Agricultural Drones Market is Projected to Grow at a CAGR of 29.30% and Reach a Market Value of USD 24.9 billion by 2030
Market Research Future Insights:
The global agriculture drones market size is expected
to register a significant CAGR of 29.30% during the forecast period and is
projected to reach a market value of USD 24.9 billion by 2030.
Unmanned aerial vehicles known as "agriculture
drones" are employed in agricultural activities to help
farmers collect, process, analyse, and derive insights from data collected by
drones. Through its uses, such as irrigation monitoring, crop monitoring, soil
and crop field analysis, bird/locust control, planting and pesticide spraying,
field mapping, variable rate application, crop scouting, and others, precision
agriculture is made possible thanks to these insights. Drones in agriculture
have many advantages, one of which is the efficient use of inputs like seeds,
fertiliser, water, and other resources without using more than is necessary.
Crop hazards including weeds, pests, and fungi can hinder the growth of the
crop and cause production losses, which can be promptly identified and
prevented through crop scouting, which includes validated treatment and
measures taken. This should enable farmers to increase crop productivity while
lowering overall expenses for resources such as water, fertiliser, and
pesticides.
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The market for agriculture drones market is influenced
by a number of reasons, including the growing demand for precision farming
equipment and the expansion of government programmes to encourage productive
farming methods that benefit farmers. On the other side, this market growth
trend is being hampered by the creation of rules surrounding the use of drones
due to data privacy concerns. However, as agricultural activities become more
automated, the market is advantageous. Furthermore, the market has difficulties
due to a lack of internet access infrastructure.
Key Players:
The key players in the global agriculture drones
market are DJI (China), 3DR (US), Ondas Networks (AMERICAN ROBOTICS) (US),
ideaForge (India), DroneDeploy (US), MICRODRONES (Germany), PrecisionHawk, Inc.
(US), Yamaha Motor Corporation, U.S.A. (US), AeroVironment, Inc. (US), AgEagle
Aerial Systems Inc. (US), ISRAEL AEROSPACE INDUSTRIES (Israel), Delair
(France), senseFly (Switzerland), Sentera (US), Trimble Inc. (US), and THANOS
(India), among others.
Market Segmentation:
The type, component, application, and regional
segments have been used to divide the global market for agriculture drones. The
market for agriculture drones is segmented into fixed wing, rotary blade, and
hybrid drones depending on type. The component section is further divided into
hardware and software, with the hardware sub-segment consisting of devices like
cameras, batteries, motors, flight controllers, radio receivers, GPS/GNSS/GIS,
and others. Data management, image processing, data analytics, and other
services are covered in the software sub-segment. The global market for
agriculture drones market has been divided into several application-specific
submarkets, including irrigation monitoring, soil and crop field analysis,
planting and pesticide spraying, field mapping, crop scouting, and others.
On the basis of application, the global agriculture drones
market has been segmented into irrigation monitoring, soil and crop field
analysis, planting and pesticide spraying, field mapping, crop scouting, and
others.
The global agriculture drones market has been analyzed
for five regions—North America, Europe, Asia-Pacific, the Middle East &
Africa, and South America.
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Competitive Analysis
The global agriculture drones market is witnessing a
high growth mainly due to rapid developments in drone technology, increasing
demand from various agricultural applications, and surging demand for IoT
applications. Major players have opted for partnerships, acquisitions, and
product developments as their key organic growth strategies to enhance their
positions in the market and cater to the rising demands for technology-based
solutions. Also, the industry players are working towards advancing their
product offerings to cater to changing needs of farmers. Additionally, the
market players are going forward to increase their market presence by
partnering with numerous retailers and dealers across the globe to expand their
market presence and adoption of agriculture drones.
Regional Analysis:
North America, Europe, Asia-Pacific, the Middle East
& Africa, and South America have all been considered in the geographic
study of the global market for agriculture drones. Due to the growing demand
for automation in agricultural activities, North America is anticipated to
account for the biggest market share. Due to the advantages provided by
agricultural drones, such as the increased need for precision farming
technology and the rise in government initiatives to support efficient farming
practises, among other such factors have increased the demand in the region,
the US is anticipated to lead the country-level market in the North American
region.
During the forecast period, Asia-Pacific is projected
to grow at the fastest rate and was second in the global market for agriculture
drones market. This is largely because of the region's rapid digital
transformation, the large number of farmers who contribute to the GDP there,
and the advantages that come with using agriculture drones to address problems
that lead to lower productivity.
Additionally, due to the higher adoption of agriculture
drones market in terms of better productivity, improved sustainability, and
higher profitability for farmers that adopted this technology, the Europe area
is predicted to maintain its third-place ranking during the review period. Due
to the demand for agricultural products in these countries and increased
production to meet the growing demand, the Middle East, Africa, and South
American markets are anticipated to have considerable expansion over the
projected period.
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