Daily Facts - Day #39: Billion dollar niches - Drones & helicopters
In general, technology and gadgets is a highly competitive industry that doesn’t leave much room for the smaller guys and gals to make their way in and compete against the big dogs.
However, there is one subsection of the technology industry that is taking off, with plenty of room for smaller competitors to make their way in and take a piece of the pie.
The drone and helicopter industry is booming, after being nearly non-existent before 2009.
Since 2009, the industry has exploded with both enthusiasts and high end video recording companies realizing exactly how much fun and how powerful these remote controlled vehicles are.
These small flying machines are controlled from the ground using a remote that allows the operator to make them move wherever they want. The industry has been growing worldwide, becoming so big that government agencies have begun to intervene and place limits on the types and sizes of vehicles that consumers can own.
According to BrandBuilders ...
- The current market size produces more than $11 billion in yearly revenue
- By 2020, the market is forecast to produce more than $140 billion in total sales
- By 2025, the industry is expected to employ more than 100,000 people
- More than $40 million is being invested annual by US venture firms alone
- Core consumers are between 35 and 39 years of age, with the next group being between 12 and 18 years of age
- The market consists of 70% men and 30% women
- 80% of the industry are based around personally owned drones and helicopters, with 20% making up the video recording industry.
- As time goes on, the video recording industry will make up more of the market, spending nearly 500% more on high quality gear than personal consumers will.
With so many new products being released every year, I'd say that the options are almost unlimited ...
In my opinion is definitely a gem!
Do you agree?