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And he's already imposed tariffs on billion in Chinese imports in a separate dispute over Beijing's high-tech industrial policies. He has threatened to ratchet that up past 0 billion.

Analysts say that after the yuan exchange rate against the dollar hit a six-year low level in December, the yuan's performance against the greenback has been steady after the US currency lost its upward momentum.

And 103 agencies, or 16 percent, have purchased either a DJI Matrice or DJI Mavic.

Andy Rothman, an investment strategist at San Francisco-based investment firm Matthews Asia, wrote in a recent analysis that China's V-shaped economic recovery continued for a fourth consecutive month in June, led by strong domestic demand.

Analysts suggested more mergers and acquisitions are going to take place in the sector in the coming three to five years.