Foldable Drones Market

Foldable Drones Market Outlook (2023-2033)

The global foldable drone market is set to enjoy a valuation of US$ 2,790 million in 2023 and further expand at a CAGR of 10.3% to reach US$ 7,436.3 million by the end of 2033.

In 2023, global drone market is estimated to have around 7.6 million unit shipment, while the drone market is projected to grow at 15.3% CAGR. In terms of volume, foldable drone will have nearly 549.5 (‘000 Units) demand in 2023, wherein sales of foldable drone accounted for nearly 8% share of the global drone market at the end of 2022.

Report Attributes	Details
Market Size (2022A)	US$ 2,501.5 Million
Estimated Market Value (2023E)	US$ 2,790.0 Million
Forecasted Market Value (2033F)	US$ 7,436.3 Million
Global Market Growth Rate (2023-2033)	10.3% CAGR
North America Market Share (2023)	28.1%
North America Market Value (US$ Mn), 2023	US$ 785.1 Million
Europe Market Share (%), 2023	36.1%
Europe Market Value (US$ Mn), 2023	US$ 1,007.7 Million
China Market Share (%), 2023	11.3%
China Market Value (US$ Mn), 2023	US$ 314 Million
Top 3 country Market Share (%)	~38.1%
Key Companies Profiled	DJI RIEGL LMS Yuneek Intellisystem Technologies Parrot Heliceo EMBENTION Diodon ALPSdrone ONYXSTAR

Sales Analysis of Foldable drone Market (2018-2022) Vs. Market Forecast Outlook (2023-2033)

The term "foldable drone" refers to a drone that can fold its wings in the mid-flight and fit through small openings like a crack in a wall or a half-open window.

Foldable drones are becoming common these days since they can easily place where it is difficult-to-reach and take pictures or films. Folding drones are becoming more popular in the sports industry and in public spaces. Nowadays, consumers also use drones for surveillance and public security purposes. In order to improve safety and remove human interference, it may also be used to monitor and check pipelines, gas emissions, solar and wind farms, clean, etc.

Foldable drone has many benefits due to that, it will reach the valuation of US$ 7,436.3 million in 2033 with a CAGR of 10.3% in the forecast period.

• Short Term (2023 Q1 to 2026): Four wing and six wing foldable drone by consumer/civil will positively impact with the growth of foldable drone market.
• Medium Term (2026-2029): Europe and North America witnessing high foldable drone demand for delivery & logistics industry with the strong support of global leading players.
• Long Term (2029-2033): Increase in the end uses of drone in media & entertainment industry, foldable drone sales will upsurge the market growth.

Over the 2018-2022 historical period, the global foldable drone market registered a CAGR of 7.8%, and according to the Fact.MR, a market research and competitive intelligence provider, the market is projected to exhibit growth at 10.3% CAGR between 2023 and 2033.

Market share analysis of foldable drone based on application and region has provided briefly in the above image. Under the application segment, the filming and photography sub-segment dominates with 24.4% market share in 2023.

What is Driving Demand for Foldable Drone Across Geographies?

“Higher Portability and Easy to Carry Attribute”

Growing potential for drone applications has instigated positive impacts on the drone market. Professional and personal users has been now adapting drone technology for their essential purposes. Drones versatility and maneuverability has made possible such things, which are actually beyond the human capabilities.

Nowadays, drones are as legitimate as pieces of consumer electronics such as smartphone and digital cameras. Obliviously, regular drones are still at early stages of adoption curve. Although foldable drones are quickly accepted by the mainstream market due to the rapid development and innovations.

Now that drones are much easier to bring along on hikes, trips, parks or even at afternoon spent at the beach because these drones can easily fit inside regular bag pack. For recreational users who wants a different way to capture scenery, foldable drones has greatly appealed. To diversify photography skills, aspiring photographer also have been using these folding camera drones.

Easy use of drones in this application has been the next level technological path to prosper foldable drone business. This demand will fill the void of challenging and it will grow the demand for foldable drone market.

“Low Price Range of Foldable Drones has Contributed Surge in the Market”

Besides foldable drone, most of the other drones in the market are either pricey or not very affordable. The first drone ended up becoming a popular in all brands of drones due to its low price, which attract more recreational users. Although the earliest foldable drones were not exactly made to be incredibly inexpensive. After that, drone producers launched models that were to be more affordable by capitalizing on this trend.

Consumers who are not interested in larger drones are now investing considerably in foldable drones. Drones from reputed brands such as DJI are now easier to buy for less than US$ 500 because of foldable models. The affordable price range of foldable drones has considerably aided the popularity and significant growth of drones in recent years.

What do Foldable Drone Manufacturers Need to Watch Out?

“Limited Payload Capacity may hamper the Market Growth”

Practically foldable drones have no capacity to carry a payload more than what has already attached to them due to small size. Third party services offer exchangeable payload service. Due to a small size, foldable drones typically have no provision for this.

Despite all of the merits, consumers are not likely to see drone with no payload capacity. In addition, the consumer not prefer to buy a large drone, which carry the payload. Large drone are not prefer to use to on regular basis.

Such limitation regarding the drone payload capacity may affect the market growth of drones as well as foldable drone market. Due to that, manufacturers have to look forward to give best possible product.

Country-wise Insights

Why China is Considered as a Major Market for Foldable Drones?

The foldable drone market in China to reach the valuation of at US$ 314.9 million in 2023, while growing at a CAGR of 10.3% during the forecast period.

The foldable drone market has experienced substantial growth because of growth in the range of civil applications. Different industry sectors, including agriculture, mining, electricity and utilities, trains, construction, highways, deliveries, and media, have made use of UAVs. In these activities, China participates significantly.

Leading Chinese manufacturers like XAG and DJI, who account for almost 80% of the Chinese market share, are also present. These manufacturers advanced their technologies, with XAG concentrating on foldable drones and DJI on camera drones.

However, military operations account for 70% of the drone market share, and China is one of the nations that spends a lot on military operations. China has provided almost US$ 262 million in investment for private drone firms since 2015. Because of this, the Chinese drone market and drone motor market are both profitable.

Due to these factors, the market growth of foldable drone in China is high and likely to create rapid growth in the forecast period.

Why Demand for Foldable Drone Increased in United States?

There are a number of factors that are contributing to the higher demand for foldable drone in US, such as military activities, increasing commercial sector etc.

United States conducted the country's first drone strikes in Afghanistan in 2001. Today, United States has several armed drone models and is one of the major exporters of armed drones around the world. Due to that, US has a highest market share of around 27.2% around the world in 2021.

Due to these factors, the demand for foldable drone has increased over the historic period and it reached the valuation of US$ 2,501.5 million in 2022.

Category-wise Insights

Why Sales of Consumer Drone are High Among the Other Foldable Drone Type?

By 2023, it is expected that consumer drone type would have 75.2% of the global market share among drone types. Most consumer use foldable drone for professional work because it is affordable and easy to carry everywhere. Additionally, the size of these drones are less than other larger drones. As a result, foldable drone capture large share in commercial sector.

Additionally, it is anticipated that the availability of the target product in customized shapes and advanced camera, which add extra benefit, will increase sales of foldable drone in commercial sector.

Which End Use Segment Captured the Highest Market Share?

Market share of media and entertainment segment is expected to capture the maximum share of 25% in 2023. Growing public interest in the media and entertainment sector is anticipated to create a wealth of growth potential for the foldable drone market. Nowadays, foldable drones are seen as an integral part of an equipment, while photography and video filming are not necessarily required at any level for cinematography.

Drone may save the lives of laborers from injuring by doing their risky job. Additionally, the target market has a lot of potential to expand thanks to foldable drone that can be customized to meet the needs of the end users.

Competitive Landscape

Prominent foldable drone manufacturers are DJI, RIEGL LMS, Yuneek., Intellisystem Technologies, Parrot, Heliceo, EMBENTION, Diodon, ALPSdrone, ONYXSTAR.

Top foldable drone manufacturers are putting a lot of effort into continuously improving their product designs to address the issues of component placement in today's tough environments. In the drone accessory industry, prominent players are using a competitive price strategy.

Fact.MR has provided detailed information about the price points of key manufacturers of foldable drone positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Foldable drone Industry Research

• By Type :

  • Four Wing
  • Six Wing
  • Eight Wing

• By Drone Type :

  • Consumer / Civil
  • Commercial
  • Military

• By End Use Industry :

  • Filming & Photography
  • Inspection & Maintenance
  • Mapping & Surveying
  • Precision Agriculture
  • Surveillance & Monitoring
  • Others

• By Buyer Type :

  • Agriculture & Forestry
  • Delivery & Logistics
  • Media & Entertainment
  • Construction & Mining
  • Oil & Gas
  • Security & Law Enforcement
  • Recreational Activity
  • Others

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA