The "close combat" between DJI and Insta360 intensifies.

New progress has been successively disclosed, and the "sky battle" of drones is intensifying.

Recently, Sweet Potato Robotics released a message saying that the Yingling Antigravity A1 panoramic drone jointly launched by Insta360 and a third - party team is equipped with its new - generation Xuri 5 intelligent computing chip. Insta360 also confirmed this message to the STAR MARKET DAILY.

Interestingly, DJI has also been reported to have made new progress in panoramic drones recently. According to media reports, DJI's panoramic drone has been developed and will be launched into the market. According to relevant market rumors, the product may be named DJI AVATA 360 and is expected to be officially released in December this year.

The reporter of the STAR MARKET DAILY has contacted DJI to verify the relevant information, but as of the time of publication, no official response has been obtained.

The Convergence of "Panoramic Products": The "Hand - to - Hand Combat" between Insta360 and DJI Continues to Intensify

Founded in 2006, DJI focuses on drone systems and solutions. It has now built a full - range product layout covering consumer, civil, and industrial levels and has gradually expanded to categories such as action cameras. Insta360 was established in 2015, specializing in panoramic imaging equipment. Its products include consumer - grade panoramic cameras and video conferencing equipment. It was listed on the STAR Market in June this year, and as of November 11, its market value reached 106.5 billion yuan.

These two leading companies in the drone and panoramic camera fields have now both focused on panoramic products and officially "clashed" in panoramic drones and panoramic cameras. This confrontation started in July this year.

On July 28, Insta360 officially launched its consumer - grade drone brand "Yingling Antigravity" and announced plans to launch the world's first panoramic drone. Most voices in the market believe that this move by Insta360 is a "declaration of war" against DJI, directly targeting its dominant drone market.

In fact, Insta360 has been planning its layout in the drone market for a long time. Since July 1, 2020, Insta360 has successively applied for multiple patents related to "drones" and "panoramic drones", covering core aspects such as drone structure, propellers, and power systems. In May this year, its patents for "unmanned aerial vehicle frame and unmanned aerial vehicle" and "drone" were authorized.

Three days after Insta360 launched its panoramic drone product, DJI launched its first panoramic camera, Osmo 360, on July 31, entering Insta360's core market. In response, Insta360 subsequently reduced the price of its similar products by 500 yuan.

On August 14, Insta360's panoramic drone "Yingling Antigravity A1" officially announced its product form and launched a global beta test. Soon after, on September 8, spy photos of DJI's panoramic drone were exposed, and DJI also indirectly responded to the STAR MARKET DAILY that it was about to launch a panoramic drone product.

It is not difficult to see that the product launches and information disclosures of the two companies are in step, and this "sky battle" is becoming increasingly fierce. Recently, the relevant dynamics of the two brands in the drone field have been updated again.

On November 11, Sweet Potato Robotics released a message saying that the Yingling Antigravity A1 launched by Insta360 is equipped with its new - generation Xuri 5 intelligent computing chip and is expected to be trial - sold in some regional markets in the fourth quarter of 2025. Insta360 also confirmed this message to the STAR MARKET DAILY.

Meanwhile, according to media reports, DJI's panoramic drone has been developed and will be launched into the market. According to relevant market rumors, the product may be named DJI AVATA 360 and is expected to be officially released in December this year. The reporter of the STAR MARKET DAILY contacted DJI to verify the relevant information, but as of the time of publication, no official response has been obtained.

It is worth noting that the competition in the panoramic drone field is still in its infancy, while the battle in the panoramic camera field has already begun and is more intense.

A report from Jiutian Consulting shows that in the global panoramic camera market in the third quarter of 2025, Insta360's share is 49%, and DJI's is 43%. Another report released by Frost & Sullivan states that Insta360 accounts for 75%, while DJI only accounts for 17.1%. In addition, the report from Frost & Sullivan was taken down twice after its release and is currently not available for access or download.

In this regard, a person close to DJI confirmed to the reporter of the STAR MARKET DAILY that in the third quarter, DJI's panoramic camera shipments reached 290,000 units, with sales of 860 million yuan, which is basically consistent with the data estimated by Jiutian Consulting.

On the other hand, Insta360 said that the accuracy, completeness, and authority of some third - party data cannot be verified and reminded investors to pay attention to risks. According to its third - quarter financial report, its Q3 revenue reached 2.94 billion yuan, a year - on - year increase of 92.64%.

An In - Depth Look at the Offensive and Defensive Battle between Insta360 and DJI: Experience Is King in the Stock Competition

Peeling off the layers, behind the confrontation between Insta360 and DJI is the anxiety of the consumer electronics industry about growth space in the era of stock competition. In this scenario, cross - border development is no longer an option but an inevitable move to seek breakthroughs against the backdrop of a saturated market.

As a niche market, panoramic cameras face challenges such as high cognitive thresholds and slow scenario expansion, and the overall scale is limited. Data from Guanyan Report Network shows that from 2020 to 2024, global shipments increased from 1.132 million units to 2.344 million units, and the market size increased from 3.2 billion yuan to 5.85 billion yuan. It is estimated that the shipments will reach 2.647 million units in 2025, and the market size will be about 6.61 billion yuan. The industry growth rate has shown a gradual slowdown trend.

Facing the slowdown in the growth rate of this market, Insta360 has set its sights on the consumer - grade drone market worth hundreds of billions of yuan. Insta360 CEO Liu Jingkang also said at the third - quarter earnings conference that the drone category currently has a larger market scale with a higher ceiling, and many existing demands are still unmet.

On the other hand, DJI is currently facing unprecedented multi - dimensional competitive pressure. Although it once occupied more than 70% of the global drone market, forming an almost monopolistic pattern, the market structure is now quietly changing.

On the one hand, companies such as XAG and GeoVis Technology have been continuously deepening their presence in vertical fields such as agricultural drones, forming differentiated competition. On the other hand, several mobile phone giants have also spread the news of entering the drone field, further intensifying the industry competition. Against this background, related fields such as action cameras and panoramic cameras have naturally become important directions for DJI to expand its business boundaries and find new growth points.

It is worth mentioning that there is still a significant gap between the two companies in terms of corporate scale and R & D investment.

Insta360's cumulative revenue in the first three quarters of 2025 has reached 6.611 billion yuan, exceeding the full - year revenue of 5.574 billion yuan last year. At the same time, it is betting on the future by significantly increasing R & D investment, especially in strategic projects such as custom chips. In the first three quarters of this year, Insta360's total R & D investment exceeded 1 billion yuan, and in the third quarter, the R & D investment reached 524 million yuan, a year - on - year increase of 164.81%.

Although DJI has not publicly disclosed its financial reports, according to market news, its revenue in 2024 was about 80 billion yuan. More notably, DJI plans to invest about 30 billion yuan in R & D from 2024 to 2030, which means that its average annual R & D investment needs to be maintained at more than 5 billion yuan.

In the current competitive landscape, the confrontation between the two brands in the panoramic camera field continues to intensify, and the first panoramic drones will also be launched into the market in the next six months. Looking at all fronts, the ultimate determinant of all competition will still depend on product experience and user choice.

This article is from the WeChat official account "STAR MARKET DAILY", author: Li Jiayi. Republished by 36Kr with permission.