The adoption of racing drones is high in Japan, European countries, and Australia. The demand for FPV-drones is rising rapidly across different regions as there are many sports event being organized as racing drone events. Further, drones are one of the new technologies in the racing sports industry that is expected to witness highest growth compared to car racing, F1 racing, bike racing, and other types of racing events organized across different regions worldwide. Further, the rising awareness for replacing human intervention in racing sports events is one of the major factors catalyzing the deployment of drones in the racing sports events. Such factor is catalyzing the racing drones market growth across different regions.

Asia Pacific was estimated to be the largest region in terms of market share in the global racing drones market in 2022 and it is also expected to retain its dominance during the forecast period as well. This is mainly due to the presence of large number of drone manufacturers and the presence of countries such as China, Japan, and South Korea which have already been some ideal pioneers in the field of drone technologies since past few decades. Moreover, the growth in number of racing drone events across Asia Pacific countries is another major factor boosting the growth for racing drones market in the region. Also, the Asia Pacific region is expected to witness a fastest growth rate during the forecast period in the global racing drones market. This is mainly due to the rising number of drone companies and growing awareness for the deployment of drones across multiple applications such as media & entertainment, sports, photography, and other commercial and industrial applications. Such factors have been pushing the global racing drones market growth.

In addition, the integration of AR and VR into the drone systems is one of the major trends for the racing drones market. The integration of AR/VR allows the pilots to get into detailed pilot operations while controlling the FPV drone from a controller and FPV goggles. FPV goggles are one of the major components in the racing drone system that allows full control and visibility of the operating drone to the pilot. Moreover, the integration of AR/VR into FPV drones also allows the pilots to add more features and ability to control effectively to the racing drone along with efficient mobility of the drone that provides additional control strength to the FPV drone system for its racing operations.

Increase in Number of Drone Racing Events Provides Lucrative Opportunities for Racing Drones Market

One of the major factors driving the growth for racing drones market includes the rising number of drone racing events across different countries have been pushing a greater number of drone racing aspirants to take part in the events and boost the adoption of racing drones across different countries. Moreover, another major factor supporting the deployment of racing drones of FPV drones includes the rising number of registered drone pilots and rising number of licenses being issued to the aspirants. Below are some of the racing drone events that are about to be organized across different countries:

• In February 2023, The World Air Sports Federation announced organized Drone Racing World Cup league in South Korea.
• MultiGP is one of the biggest drone racing events across the world that organizes hundreds of drone racing events across different regions worldwide. For instance, some of the scheduled main events for 2024 includes, CAMPEONATO, Mayhem Crazy 8, Stem Alliance National Championship MultiGP, Ice Storm Drone Racing Competition, 2024 MultiGP International Open, GQ (Global Qualifier) MultiGP, and Drone Racing Championship MultiGP.
• Some of the MultiGP local races that are scheduled for 2024 includes, MultiGP Drone Racing Open, Tiny Whoop, Freedom Spec, Street League, Micro, and VelociDrone.
• Another major event that is recognized as one of the major drone racing events is DRL (Drone Racing League) that is also considered as biggest world cup events in the aerial racing sports.
• Some of the emerging drone racing events includes IDRA Drone Racing Series organized by DroneRacingLife company. It has also scheduled some major regional drone racing events for 2024 such as IDRA Challengers Cup-Buenos Aires Regionals, IDRA Challengers Cup-Manila Regional, IDRA Drone Racing Series-Utrecht Internationals (Netherlands), and IDRA Challengers Cup-Finals Las Vegas.

Such events are organized to provide an opportunity platform to the racing drone pilots which is another major factor supporting the growth for racing drones market across the world.

Further, the racing drone market players are also being focusing on the development of hyper-active racing drone products to remain competitive in the market. Hyper-active FPV drones provides additional speed and mobility to the drone operators that also allows them an advantage over other FPV drones. Such innovations have been pushing the growth of racing drones market across different regions.

Racing Drones Market: Segmental Overview

Based on drone type, the market is segmented into RTF (Ready-to-Fly) and ARF (Almost-Ready-to-Fly). The RTF segment held the largest share of the market in 2022, whereas the ARF segment is anticipated to register the highest CAGR in the market during 2022 to 2030. Based on component type, the racing drones market is segmented into batteries/FPV goggles, motors/propellers, camera/sensors, others. The batteries/FPV goggles segment held the largest share of the racing drones market in 2022, and it is anticipated to register the highest CAGR in the market during 2022 to 2030. Based on application, the market is segmented into rotorcross, drag racing, and time trial. The time trial segment held the largest share of the racing drones market in 2022, and it is also estimated to register the highest CAGR in the market during 2022 to 2030.

Racing Drones Market Analysis: Competitive Landscape and Key Developments

DJI, Eachine, Walkera Technology, ImmersionRC Limited, Uvify Inc, SWAGTRON, EMAX, iFlight Innovation Technology, GEPRC, and ARRISHOBBY are a few of the key companies operating in the racing drones market. The market leaders focus on new product launches, expansion and diversification, and acquisition strategies, which allow them to access prevailing business opportunities.

• In August 2022, DJI launched a new FPV drone kit “Avata” that comprises its new FPV drone, the FPV goggles V2 and a controller.

• In March 2023, DJI announced the launch of its new Integra goggles and RC Motion 2 joystick products that are mainly an upgrade for its Avata FPV drone kit.