Toy drones market to soar higher, thanks to low-cost models

The global toy drones and quadcopters market is forecasted to reach $480 million in 2022 as makers launch less-expensive versions.

Increasing availability of low-cost models is fuelling the ascent of the global toy drones and quadcopters market, which is expected to hit $480 million or a CAGR of 17 percent from 2018 to 2022. This is according to a recent report by UK-based business intelligence firm Technavio.

Previously accessible only to the affluent and a few middle-class children due to prohibitive price, manufacturers are now coming up with affordable and less expensive units to improve penetration in all income brackets. This has been made possible with the emergence of 3D printing, allowing suppliers to create parts and components cost-effectively.

Many industry players, however, are concerned about the safety of these low-cost toy drones. Some argued that most of these models do not undergo proper quality testing and, therefore, do not meet international safety standards. Such releases may be prone to battery or sensor malfunctioning, posing a significant hazard for users.

North and South America will continue to be the largest market during the forecast period. The region is predicted to take up more than 60 percent of the overall share. The Asia-Pacific region and the Middle East are also major markets.

Remote-controlled toy drones flew to the top of the market in 2017, followed by semi-autonomous and autonomous units. But in the next five years, the last two segments are expected to overtake remote-operated versions.