New Report on Estimated Size of R/C Industry
The Hobby Manufacturers Association has announced the impending release of their second report on the size of the U.S. hobby industry. And the numbers look to be decent and growing despite a weak economy. The report was assembled from survey responses taken during the Fall of 2009 and tracks actual sales for that year and estimated sales for 2010. The survey included only HMA member manufacturers and responses were collected anonymously by the University of Louisville School of Business.
Their findings suggest that 2010’s estimated sales were around $1.47 billion, about a 6.5% increase over 2009’s actual sales of roughly $1.38 billion. The report was broken down into various segments, including model railroading, radio control, and plastic & die cast models. What some may find surprising is that the model railroad hobby is larger, in terms of total manufacturer sales, than the r/c hobby, by about $60 million. This is how the breakdown looks compared to the last report which was put together in 2006-2007.
|Plastics & Die Cast||$305,777,500||$259,100,000|
It’s important to keep in mind that these numbers are U.S. manufacturers only, when you add in distributor and retailer markup, the report suggests that total sales swell to about $2.5 – 3 billion. Without full access to the report, which will only be available to members of the HMA, it’s tough to say exactly how much the R/C industry is worth in terms of consumer spending, but just doing some quick math based on the numbers provided, R/C probably accounts for about 25% of that $2.5 – 3 billion, or about $615 – 750 million. It’s also unclear whether or not some of the larger names in the industry responded, though it’s likely that they did.
You can read the Hobby Manufacturers Association’s press release on this report, and if we can get our hands on a copy, we’ll bring you more info when the final report hits.