As drones continue to gain recognition and become a norm in our society, there is always a debate on how much you should spend on your first drone. A quick Google search into drones will return one brand name that dominates the results. DJI!!! The reason for this is because DJI has a monopoly with 77% of the US drone market share.
DJI drones are not cheap, so there is a general misconception that your first drone has to be expensive. You do not have to break the bank to own a drone! There are other drone manufacturers that provide quality drones at cheap prices. Hobbyists, photographers and filmmakers adore DJI for providing easy to fly drones that can capture amazing footage.
In the UK, a company with over 25% of its industry's market share is considered a monopoly because of its influence on price, productive inefficiency and ability to manipulate the markets. If you are still unsure whether DJI is a monopoly, you should definitely continue to read. A monopolistic company can create problems such as a lack of choice and unfair prices to consumers. This is clearly evident with high prices for the DJI drones. Shortage of supply for drone releases such as the DJI Mavic Mini and Mavic Air are some of the tactics that can help drive up demand. If there were other strong players in the industry, those competitors would have seized the opportunity to capitalise on this opportunity. In return, it would force DJI to increase supply of the drone to meet demand.
DJI is loved for the quality of its product and some could argue the substantial market share is very well justified. Not to take the attention away from DJI, these other drones that make up 23% and should not be dismissed. Other drone manufacturers include Holy Stone and ZLRC.
With all of these in mind DJI is considered to be the top dog of drones. Therefore, without a doubt DJI has a monopoly in the drone industry.