Latest added Agricultural Drones Market research study by MarketDigits offers detailed product outlook and elaborates market review till 2027. The market Study is segmented by key regions that is accelerating the marketization. At present, the market is sharping its presence and some of the key players in the study are DroneDeploy, AgEagle Aerial Systems, SlantRange, ATMOS UAV, Delair. The study is a perfect mix of qualitative and quantitative Market data collected and validated majorly through primary data and secondary sources.
The Agricultural Drones Market is expected to grow from USD XX billion in 2020 to USD 5.7 billion by 2027 at a CAGR of 35.9% from 2021 to 2027.
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A few key factors driving the growth of this market are pressure on global food supply due to growing world population and increase in venture funding for the development of agriculture drones.
Impact of COVID-19 on agriculture drones market
The emergence of the COVID-19 pandemic, a deadly respiratory disease that originated in China, has now become a worldwide issue and has also affected the agriculture drones market. Considering the inputs from various industry experts belonging to the various stages of the value chain, such as OEMs, suppliers, end users, and distributors, and the financial releases of various companies in the agricultural drones ecosystem for Q1, 2020, we estimate that the agriculture drones market might witness a decline during 2019–2020. Worldwide, COVID-19-responsive government measures have disrupted manufacturing and global supply chains, which has had, and is expected to continue to have, a significant impact, both direct and indirect, on the agriculture drones market. If the COVID-19 disease transmission continues and results in a prolonged period of commercial and governmental restrictions, it may restrict agriculture drone manufacturing companies from obtaining certain raw materials and components used in the manufacturing of their products. However, the experts in the agriculture drones market ecosystem believe that the market would pick up pace and grow from 2021 onwards.
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“Agriculture drones market for software and services to grow at higher CAGR during forecast period”
The agriculture drones market for software and services is expected to grow at a higher CAGR during the forecast period. This growth is attributed to high investments being done by the venture capitalists and investors in the start-up companies offering software and analytics to digitize the information collected by drones; the investments are mainly targeted at mapping, imaging, and data analytics software.
Field mapping to account for largest share of agriculture drones market for precision farming during forecast period
Field mapping to account for the largest share of agriculture drones market for precision farming during the forecast period. Field mapping helps look at the condition and health of crops across different soil types and management zones to portray crop health and yield potential.
The camera systems are likely to account for the largest share of the agriculture drones market during forecast period
The camera systems are likely to account for the largest share of the agriculture drones market during forecast period. A camera system is a key component of an agriculture drone since its specifications decide the application for which the drone is to be used. For instance, the hyperspectral camera is best suited to investigate weed intrusion in farms, while the LIDAR camera is best to reveal slopes and sun exposure on farms.
“Agriculture drones market for APAC to grow at the highest CAGR during forecast period”
The market in APAC is expected to grow at the highest CAGR during the forecast period. The rate of adoption of smart agriculture techniques is likely to grow at a high pace in this region, mainly led by emerging countries such as India, China, and countries in Southeast Asia. The rapidly increasing population, availability of arable farms, and government support through subsidies are the major factors driving the adoption of agriculture drones in APAC.
Driver: Increase in venture funding for the development of agriculture drones
The extensive use of agriculture drones in seeding, spraying, and livestock farming has drawn the attention of venture capitalists. Consequently, UAV manufacturers are receiving funds from venture capital firms such as Qualcomm Ventures (US), Andreessen Horowitz (US), Draper Associates (US), Intel Capital (US), Felicis Venture (US), Lux Capital (US), and Google Ventures (US).
Restraint: Air Traffic Management
Air traffic management (ATM) is closely related to safe and economical air transportation. At present, various development programs for agriculture drones are rapidly progressing toward the operational stage. With the huge rise in numbers of agriculture drones, suitable airspace traffic management is needed to avoid accidents and collisions.
Opportunity: Exemptions by US FAA for the use of agriculture drones
Recently, the FAA’s Small UAS Rule (Part 107) has made a major impact on how drones can and are being used across industries, including agriculture. Mostly concerned toward the agricultural industry, the rules suggest the ways for the use of drones by farmers and ranchers, and define the requirements and provisions to conduct remote sensing operations over farms and ranches.
Challenge: Standardization of communication interfaces and protocols for precision agriculture
Smart agricultural devices, including agriculture drones, communicate through various interfaces, technologies, and protocols. The lack of standardization of these communication interfaces and protocols may result in the misrepresentation of data.
This report categorizes the agriculture drones market based on offering, component, application, farming environment, farm produce, and geography.
Agriculture Drones Market, by Offering
- Fixed Wing Drones
- Rotary Blade Drones
- Hybrid Drones
- Software and Services
- Data Management Software
- Imaging Software
- Data Analytics Software
Agriculture Drones Market, by Component
- Controller Systems
- Propulsion Systems
- Camera Systems
- Navigation Systems
- Other Components (Wires, connectors, power systems, carry cases, sprayers, and sprinklers)
Agriculture Drones Market, by Farming Environment
Agriculture Drones Market, by Application
- Precision Farming
- Livestock Monitoring
- Precision Fish Farming
- Smart Greenhouse
- Others (Horticulture, orchids, and forestry applications)
Agriculture Drones Market, by Farm Produce
- Field Crops
- Fruits & Vegetables
- Dairy & Livestock
- Others (flowers, forestry, and nursery plants)
Agriculture Drones Market, by Geography
- North America
- Rest of Europe
- New Zealand
- Rest of APAC
- Middle East & Africa
- South America
Agriculture Drones Market, by Range (Qualitative)
- Visual Line of Sight (VLOS)
- Beyond Visual Line of Sight (BVLOS)
Agriculture Drones Market, by Farm Size (Qualitative)
- Small Farms
- Mid-Sized Farms
- Large Farms
Key Market Players
DJI (China), PrecisionHawk (US), Trimble Inc. (US), Parrot (France), 3DR (US), AeroVironment, Inc. (US), Yamaha Motor Corp. (Japan), DroneDeploy (US), AgEagle Aerial Systems, Inc. (US), and OPTiM Corp. (Japan) are some of the major players in the agriculture drones market. Major innovators in this market are senseFLY (Switzerland), Pix4D (Switzerland), Sentera Inc. (US), SlantRange (US), ATMOS UAV (Netherlands), Delair (France), and Nileworks Inc. (Japan).
- In March 2020, AeroVironment, Inc. entered into a partnership with Draganfly (Canada) for Draganfly’s distribution of AeroVironment’s Quantix Mapper systems to commercial markets worldwide. The agreement also included the continuation of other contract engineering services provided by Draganfly to AeroVironment.
- In September 2019, DJI launched P4 Multispectral, the world’s first fully integrated multispectral imaging drone designed for precision agriculture and environmental management. P4 Multispectral combines data from 6separate sensors to measure the health of crops, from individual plants to entire fields, as well as detect the presence of weeds, insects, and a variety of soil conditions.
- In March 2019, DJI introduced a new software tool—DJI Terra—that transforms drone data into digital 3D models and maps for easy analysis and decision-making. The tool enables businesses and organizations using DJI drone technology to capture, visualize, and analyze aerial images for a wide variety of applications across the public safety, construction, infrastructure, agriculture, and film industries.
This Agricultural Drones Market analysis report is a cautious investigation of current scenario of the market and future estimations which considers several market dynamics. Market research report acceptance is very essential for the business growth as it helps with the better decision making, enhancing revenue generation, prioritizing market goals & results in profitable business. It makes easy for the industry to visualize what is already available in the market, what market anticipates, the competitive environment, & what should be done to surpass the competitor. The Agricultural Drones Market report not only aids to save valuable time but also adds credibility to the work that has been done to grow the business.
Why You Should Buy The Global Agricultural Drones Market Report?
The Agricultural Drones market report provides a meticulous picture of the sector by summary of data, production, and method of study originated from various sources. Competitive analysis comprises identifying the key mutual trends and major players of the market. Besides, report also includes an assessment of different factors essential for the existing market players and new market players coupled with methodical study of value chain.
Key Topics Covered:
2 Agricultural Drones Market Segmentation
3 Market Overview
4 Executive Summary
5 Premium Insights
6 Agricultural Drones Market, By Type
7 Agricultural Drones Market, By End-User
8 Agricultural Drones Market, By Geography
9 Agricultural Drones Market, Company Landscape
10 Swot Analysis
11 Company Profiles
14 Related Reports
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