Racing Drones Market Report – Size & Share 2030
[Research Report] The racing drones market is expected to grow from US$ 353.01 million in 2022 to US$ 1,333.19 million by 2030; it is estimated to register a CAGR of 18.1% from 2022 to 2030.
Analyst Perspective:
The racing drones market has witnessed tremendous growth in the past few years. One of the major factors driving the growth of racing drones is the rising number of drone racing leagues. Another major factor driving the growth for racing drones market includes the increasing number of FPV drone pilots. Manufacturers of racing drones majorly focus on the development of innovative products to remain competitive in the market. However, one of the factors acting as a challenge for the market include a large number of stringent regulations regarding the use of drones across different countries. Many countries do have different regulations related to the usage of drones across their respective locations. Some of them are supportive for the drone users, while a few regulations are quite challenging for the drone users to operate their drones.
Market Overview:
Racing drones are the FPV (first person view) drones used by drone pilots for different types of drone racing events that includes drag races, time trial, and rotorcross racing events. Many drone associations are introducing new regulations for drones users across different regions to support the adoption of drones which is one of trends for the market and expected to drive the racing drones market growth during 2022 to 2030. Some of the major factors catalyzing the racing drones market size includes increasing number of drone racing events, rising number of registered FPV drone pilots, and the increasing usage of composite materials to improve speed, power, and maneuverability of the racing drones.
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Racing Drones Market: Strategic Insights
Market Size Value in US$ 353.01 million in 2022 Market Size Value by US$ 1,333.19 million by 2030 Growth rate CAGR of 18.1% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Racing Drones Market: Strategic Insights
| Market Size Value in | US$ 353.01 million in 2022 |
| Market Size Value by | US$ 1,333.19 million by 2030 |
| Growth rate | CAGR of 18.1% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Market Driver:
Rising Number of Drone Racing Events
The rise in number of racing drone events is one of the major factors boosting the adoption of racing drones across the world. Some of the emerging countries such as Korea, Japan, and India have also been taking initiatives to launch different types of drone racing events across their respective regions. Further, the presence of companies such as DJI, iFlight Innovation Technology Limited, Yuneec, Chengji, and others is another major factor supporting the launch of new drone racing events across such countries. For instance some of the major drone racing events are listed below:
- In October 2023, FAI Sponsored World Drone Racing Championship was organized in Namwon Sports Town complex, Jeollabuk-do, South Korea wherein world’s top 115 drone pilots competed each other to win the global title.
- In July 2023, MultiGP organized an International Open Drone Racing Championship wherein more than 220 pilots from across the world participated to compete under 8 tracks and the whole event lasted with more than 9,000 Li-Po batteries used.
- In 2022, MultiGP organized a championship wherein more than 125 drone pilots competed for 5 days wherein more than 240 qualifying races held that made more than US$ 12,000 in cash and other prizes were awarded.
- In December 2022, MultiGP announced the schedule for six main events of its drone racing leagues for the year 2023 that were scheduled between April 2023 to October 2023.
Such events have been catalyzing the sales of FPV drones and its components across different regions. Moreover, such events are also generating awareness among the millennials that is adding up the new pilots every year for different drone racing events. In addition, many events of drone racing leagues are scheduled for the year 2024 from MultiGP which is yet to be announced from the organization. This is further expected to generate new demand for FPV racing drones during the coming years.
Segmental Analysis:
Based on components, the market is segmented into batteries/FPV goggles, motors/propellers, camera/sensors, and others. The batteries/FPV goggles segment held the largest share of the market in 2022 and it is expected to retain its dominance during 2022 to 2030 as well. Further, the camera/sensors segment is anticipated to register the highest CAGR in the racing drones market during 2022-2030. The main factor behind the largest market share of batteries/FPV goggles segment is the higher price, technology integration, and it is one of the key controllers for the pilot that allows them to have the visibility for drone operations during any race. Moreover, the demand for batteries/FPV goggles segment is also driven due to the fact that batteries are used in the most quantities during a racing drone event. For instance, in July 2023, MultiGP’s International Open Championship announced that more than 9,000 units of lithium polymer batteries were used during the event. Furthermore, more than hundreds of drone racing events are organized every year across different countries which is also driving the growth of racing drone components across different regions.
Regional Analysis:
The Asia Pacific racing drones market was valued at US$ 173.54 million in 2022 and is projected to reach US$ 691.62 million by 2030; it is expected to register a CAGR of 18.9% during the forecast period. Asia Pacific has established itself as a dominant racing drones market, leading market share and driving growth. Several factors have contributed to Asia Pacific's strong position in this market. Firstly, the region has large number of dominating racing drone market players that supply various types of drone technologies to the end users across different regions worldwide. The main reason behind the presence of such manufacturers across this region includes availability of skilled manpower, cheaper resources, and presence of advanced robotic technological countries such as China, Japan, and South Korea. Such factors are driving the growth of racing drones market across the Asia Pacific region.
Racing Drones Market Report Scope
Key Player Analysis:
The racing drones market analysis consists of the players such as DJI, Eachine, Walkera Technology, ImmersionRC Limited, Uvify Inc, SWAGTRON, EMAX, iFlight Innovation Technology, GEPRC, ARRISHOBBY. Among the players in the racing drones DJI, iFlight Innovation Technology Ltd, and ImmersionRC Limited are among the top three racing drone market players owing to the diversified product portfolio offered.
Recent Developments:
Inorganic and organic strategies such as product launches, mergers, and acquisitions are highly adopted by companies in the racing drones market. For instance, in March 2021, DJI launched its first racing drone product named DJI FPV along with FPV Remote Controller 2, and FPV Goggles V2, and a motion controller. Similarly in February 2023, DJI launched its new DJI Action 2 FPV drone that also supports GyroFlow movements. Such factors are also driving the racing drones market growth from the suppliers perspective.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component, Application, Drone Type
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Rising number of drone racing events; Growth in number of FPV drone pilots; and Increasing usage of composite materials to improve speed, power, & maneuverability are contributing to the growth of racing drones market.
Companies focusing on enhancement of aerodynamics for racing drone products; and Emergence of replacing human intervention in the racing events such as F1 Race and MotoGP bike racing are some of the major factors likely to generate new opportunities for market vendors during the forecast period.
DJI, iFlight Innovation Technology Ltd, ImmersionRC Limited, Skyrocket LLC, and Hubsan are the key market players operating in the global racing drones market.
Integration of advanced AR/VR technologies into FPV drone systems is one of the major trends expected to drive the market in the coming years.
Asia Pacific is expected to account for the largest share during the forecast period.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Racing Drones Market - By Drone Type
1.3.2 Racing Drones Market - By Component
1.3.3 Racing Drones Market - By Application
1.3.4 Racing Drones Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. RACING DRONES MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. RACING DRONES MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. RACING DRONES MARKET - GLOBAL MARKET ANALYSIS
6.1. RACING DRONES - GLOBAL MARKET OVERVIEW
6.2. RACING DRONES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. RACING DRONES MARKET - REVENUE AND FORECASTS TO 2028 - DRONE TYPE
7.1. OVERVIEW
7.2. DRONE TYPE MARKET FORECASTS AND ANALYSIS
7.3. RTF
7.3.1. Overview
7.3.2. RTF Market Forecast and Analysis
7.4. ARF
7.4.1. Overview
7.4.2. ARF Market Forecast and Analysis
8. RACING DRONES MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
8.1. OVERVIEW
8.2. COMPONENT MARKET FORECASTS AND ANALYSIS
8.3. AIRFRAME
8.3.1. Overview
8.3.2. Airframe Market Forecast and Analysis
8.4. MOTORS
8.4.1. Overview
8.4.2. Motors Market Forecast and Analysis
8.5. CAMERA/SENSORS
8.5.1. Overview
8.5.2. Camera/Sensors Market Forecast and Analysis
8.6. PROPELLERS
8.6.1. Overview
8.6.2. Propellers Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. RACING DRONES MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. ROTORCROSS
9.3.1. Overview
9.3.2. Rotorcross Market Forecast and Analysis
9.4. DRAG RACING
9.4.1. Overview
9.4.2. Drag Racing Market Forecast and Analysis
9.5. TIME TRIAL
9.5.1. Overview
9.5.2. Time Trial Market Forecast and Analysis
10. RACING DRONES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Racing Drones Market Overview
10.1.2 North America Racing Drones Market Forecasts and Analysis
10.1.3 North America Racing Drones Market Forecasts and Analysis - By Drone Type
10.1.4 North America Racing Drones Market Forecasts and Analysis - By Component
10.1.5 North America Racing Drones Market Forecasts and Analysis - By Application
10.1.6 North America Racing Drones Market Forecasts and Analysis - By Countries
10.1.6.1 United States Racing Drones Market
10.1.6.1.1 United States Racing Drones Market by Drone Type
10.1.6.1.2 United States Racing Drones Market by Component
10.1.6.1.3 United States Racing Drones Market by Application
10.1.6.2 Canada Racing Drones Market
10.1.6.2.1 Canada Racing Drones Market by Drone Type
10.1.6.2.2 Canada Racing Drones Market by Component
10.1.6.2.3 Canada Racing Drones Market by Application
10.1.6.3 Mexico Racing Drones Market
10.1.6.3.1 Mexico Racing Drones Market by Drone Type
10.1.6.3.2 Mexico Racing Drones Market by Component
10.1.6.3.3 Mexico Racing Drones Market by Application
10.2. EUROPE
10.2.1 Europe Racing Drones Market Overview
10.2.2 Europe Racing Drones Market Forecasts and Analysis
10.2.3 Europe Racing Drones Market Forecasts and Analysis - By Drone Type
10.2.4 Europe Racing Drones Market Forecasts and Analysis - By Component
10.2.5 Europe Racing Drones Market Forecasts and Analysis - By Application
10.2.6 Europe Racing Drones Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Racing Drones Market
10.2.6.1.1 Germany Racing Drones Market by Drone Type
10.2.6.1.2 Germany Racing Drones Market by Component
10.2.6.1.3 Germany Racing Drones Market by Application
10.2.6.2 France Racing Drones Market
10.2.6.2.1 France Racing Drones Market by Drone Type
10.2.6.2.2 France Racing Drones Market by Component
10.2.6.2.3 France Racing Drones Market by Application
10.2.6.3 Italy Racing Drones Market
10.2.6.3.1 Italy Racing Drones Market by Drone Type
10.2.6.3.2 Italy Racing Drones Market by Component
10.2.6.3.3 Italy Racing Drones Market by Application
10.2.6.4 United Kingdom Racing Drones Market
10.2.6.4.1 United Kingdom Racing Drones Market by Drone Type
10.2.6.4.2 United Kingdom Racing Drones Market by Component
10.2.6.4.3 United Kingdom Racing Drones Market by Application
10.2.6.5 Russia Racing Drones Market
10.2.6.5.1 Russia Racing Drones Market by Drone Type
10.2.6.5.2 Russia Racing Drones Market by Component
10.2.6.5.3 Russia Racing Drones Market by Application
10.2.6.6 Rest of Europe Racing Drones Market
10.2.6.6.1 Rest of Europe Racing Drones Market by Drone Type
10.2.6.6.2 Rest of Europe Racing Drones Market by Component
10.2.6.6.3 Rest of Europe Racing Drones Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Racing Drones Market Overview
10.3.2 Asia-Pacific Racing Drones Market Forecasts and Analysis
10.3.3 Asia-Pacific Racing Drones Market Forecasts and Analysis - By Drone Type
10.3.4 Asia-Pacific Racing Drones Market Forecasts and Analysis - By Component
10.3.5 Asia-Pacific Racing Drones Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Racing Drones Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Racing Drones Market
10.3.6.1.1 Australia Racing Drones Market by Drone Type
10.3.6.1.2 Australia Racing Drones Market by Component
10.3.6.1.3 Australia Racing Drones Market by Application
10.3.6.2 China Racing Drones Market
10.3.6.2.1 China Racing Drones Market by Drone Type
10.3.6.2.2 China Racing Drones Market by Component
10.3.6.2.3 China Racing Drones Market by Application
10.3.6.3 India Racing Drones Market
10.3.6.3.1 India Racing Drones Market by Drone Type
10.3.6.3.2 India Racing Drones Market by Component
10.3.6.3.3 India Racing Drones Market by Application
10.3.6.4 Japan Racing Drones Market
10.3.6.4.1 Japan Racing Drones Market by Drone Type
10.3.6.4.2 Japan Racing Drones Market by Component
10.3.6.4.3 Japan Racing Drones Market by Application
10.3.6.5 South Korea Racing Drones Market
10.3.6.5.1 South Korea Racing Drones Market by Drone Type
10.3.6.5.2 South Korea Racing Drones Market by Component
10.3.6.5.3 South Korea Racing Drones Market by Application
10.3.6.6 Rest of Asia-Pacific Racing Drones Market
10.3.6.6.1 Rest of Asia-Pacific Racing Drones Market by Drone Type
10.3.6.6.2 Rest of Asia-Pacific Racing Drones Market by Component
10.3.6.6.3 Rest of Asia-Pacific Racing Drones Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Racing Drones Market Overview
10.4.2 Middle East and Africa Racing Drones Market Forecasts and Analysis
10.4.3 Middle East and Africa Racing Drones Market Forecasts and Analysis - By Drone Type
10.4.4 Middle East and Africa Racing Drones Market Forecasts and Analysis - By Component
10.4.5 Middle East and Africa Racing Drones Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Racing Drones Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Racing Drones Market
10.4.6.1.1 South Africa Racing Drones Market by Drone Type
10.4.6.1.2 South Africa Racing Drones Market by Component
10.4.6.1.3 South Africa Racing Drones Market by Application
10.4.6.2 Saudi Arabia Racing Drones Market
10.4.6.2.1 Saudi Arabia Racing Drones Market by Drone Type
10.4.6.2.2 Saudi Arabia Racing Drones Market by Component
10.4.6.2.3 Saudi Arabia Racing Drones Market by Application
10.4.6.3 U.A.E Racing Drones Market
10.4.6.3.1 U.A.E Racing Drones Market by Drone Type
10.4.6.3.2 U.A.E Racing Drones Market by Component
10.4.6.3.3 U.A.E Racing Drones Market by Application
10.4.6.4 Rest of Middle East and Africa Racing Drones Market
10.4.6.4.1 Rest of Middle East and Africa Racing Drones Market by Drone Type
10.4.6.4.2 Rest of Middle East and Africa Racing Drones Market by Component
10.4.6.4.3 Rest of Middle East and Africa Racing Drones Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Racing Drones Market Overview
10.5.2 South and Central America Racing Drones Market Forecasts and Analysis
10.5.3 South and Central America Racing Drones Market Forecasts and Analysis - By Drone Type
10.5.4 South and Central America Racing Drones Market Forecasts and Analysis - By Component
10.5.5 South and Central America Racing Drones Market Forecasts and Analysis - By Application
10.5.6 South and Central America Racing Drones Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Racing Drones Market
10.5.6.1.1 Brazil Racing Drones Market by Drone Type
10.5.6.1.2 Brazil Racing Drones Market by Component
10.5.6.1.3 Brazil Racing Drones Market by Application
10.5.6.2 Rest of South and Central America Racing Drones Market
10.5.6.2.1 Rest of South and Central America Racing Drones Market by Drone Type
10.5.6.2.2 Rest of South and Central America Racing Drones Market by Component
10.5.6.2.3 Rest of South and Central America Racing Drones Market by Application
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. RACING DRONES MARKET, KEY COMPANY PROFILES
12.1. DJI
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. EACHINE
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. GUANGZHOU WALKERA TECHNOLOGY CO.,LTD
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. IMMERSIONRC LIMITED
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. UVIFY INC.
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. SWAGTRON
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. EMAX
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. IFLIGHT INNOVATION TECHNOLOGY LTD.
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. GEPRC
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. ARRISHOBBY
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
The List of Companies - Racing Drones Market
- DJI
- Eachine
- Walkera Technology
- ImmersionRC Limited
- Uvify Inc
- SWAGTRON
- EMAX
- iFlight Innovation Technology Limited
- GEPRC
- ARRISHOBBY
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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Dec 2023
Air Defense Radar Market
Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Range (Long Range, Medium Range, Short Range); Product Type (Synthetic Aperture and Moving Target Indicator Radar, Surveillance Radar, Airborne Early Warning Radar, Multi-functional Radar, Weather Radar, Others); System Type (Fixed, Portable); Platform (Ground-based, Aircraft-mounted, Naval-based); Application (Ballistic Missile Defense, Identification Friend or Foe, Weather Forecasting, Others); and Geography
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