Agricultural Drone Market size is expected to reach USD billion by 2029, and it is projected to grow at a high CAGR of 28.5% in the forecast period of 2023-2030.
Agricultural drone market share is predicted to observe prominent growth over the forecast period, due to an increase in venture capital for the placement of drones in the farming industry, worldwide. Additionally, the rise in acceptance of precision agriculture solutions drives the agricultural drone market growth throughout the forecast period. Furthermore, growth in demand for a decline in cost-related to human mistakes is projected to push the agriculture drones market research.
Unexpected weather fluctuations worldwide are creating innovative layers of difficulty in the farming industry, which boosts the requirement for innovative solutions such as agriculture drones to progress crop yield and firm competence. Furthermore, the aerial view provided by drone farming can expose several problems such as soil differences, irrigation complications, and fungous infestations and act as a set of guidelines used in agriculture to review crops to quickly recognize issues.
Agricultural Drone Market Scope
By Drone Type, By Application based Analysis, and By Region
Report Insights Covered
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.
Fastest Growing Region
Largest Market Share
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According to the study, the global Agricultural Drones Market is segmented by type of drone, application-based analysis, and geography. Based on geography the market is further divided into five major regions, such as North America, Europe, Asia Pacific, South America, Middle East and Africa. Among all regions, North America and Europe are the major and the utmost progressive markets with respect to the implementation of advanced technologies in the agriculture industry, while South America has the utmost possible growth in this market. The occurrence of a large share of the agricultural field as fragmented holdings in Asia, particularly in regions of India, bounds the possible growth of the agriculture drones market throughout the forecast period. The usage of land and labor engaged in agricultural activities in North America has been in a steady decline in recent years.
Europe is the next major market for agricultural drones owing to the increasing need among countries to enhance the overall farm productivity. In addition, the European Union (EU) is also actively working in the direction of deploying drones for farming. The Asia-Pacific agricultural drone market will benefit from growing adoption and technological advancements. Manufacturers from this region are investing in developing low-cost and effective UAVs for numerous applications in the agricultural sector.
Drones are unmanned aerial vehicles (UAVs) and operate without human passengers or crew. Drones are controlled from a ground-based console by a human operator. They are fully autonomous and do not require human intervention for operation. Drones are used in the agricultural sector for aerial surveying, crop spraying, irrigation management, and crop monitoring. Agricultural drones are used in farming to monitor crop growth and to increase crop production with the help of innovative sensors. The information which is gathered from the equipment is useful in developing crop yields and farm efficiency. Agriculture drones are spray drone improved unmanned aerial vehicles intended to enhance agriculture working efficiency, harvest production, and observing crop progress.
Agricultural Drone Market Growth Drivers:
The rising incorporation of emerging technologies to improve agricultural productivity is expected to boost the demand for agricultural drones. Agricultural drones can be used for a litany of tasks such as aerial surveying and irrigation management, among others. The availability of advanced tools such as data analytics in conjunction with drone usage can be used to optimize fertilizer, water, and pesticide usage. It can help to reduce food production costs and boost agricultural efficiency greatly. The increasing drive to improve agricultural efficiency is expected to augment market growth during the forecast period.
Drones are remote-controlled aircraft with no human pilot onboard. These drones have a huge potential in agriculture in supporting evidence-based planning and in spatial data collection. Despite some inherent limitations, these tools and technologies can provide valuable data that can then be used to influence policies and decisions.
Practical applications for unmanned aerial vehicles (UAV) commonly referred to as drones, have progressed significantly in recent years with the fall in their cost.
Among the end-user industries, the agriculture sector is anticipated to transform into a major drone-employed sector in order to encounter the harvesting challenges and to effectively deploy agricultural practices to enhance productivity and efficiency.
Interest from both consumers and businesses in drones is surging, with new applications being developed fastly for use across many industries, especially in agriculture which is one of the primary sectors expected to see sharp uptake of drone technology in the near future.
However, regulations have been a significant barrier to the more widespread use of Unmanned Aerial Systems. Countries such as Argentina, Barbados, Cuba, India, Morocco, Saudi Arabia, Slovenia, and Uzbekistan have imposed an outright ban on the use of drones for commercial use.
The agricultural drone industry is highly fragmented, with many drone manufacturers competing to gain market share.
Owing to this the most innovative, and cost-effective drones will likely be introduced in the coming future. Drone manufacturers such as DJI or Parrot are enhancing their product range with add-on hardware, software, or hybrid solutions tailored for use in a specific industry.
Over the forecast period, strict regulatory restrictions are expected to prevent major growth of the global agricultural drones market. Many countries have strict regulations regarding the licensing and usage of drones for civilian purposes. Security concerns have led to regulations restricting drones from flying near various places such as airports, railway stations, and military bases. The strict regulations are preventing the wider adoption of emerging drone technologies for civilian usage.
The proliferation of drone technology has reduced developmental costs and lowered barriers to entry into the market. It has massively increased the scope for innovations in agricultural drones. More and more startup companies are emerging within the drone industry, which has created major opportunities for innovation in the field.
Improving farmers' technological literacy to increase agricultural drone usage will be a major challenge for the market during the forecast period. Agricultural drones are sophisticated tech products that require significant technical know-how for operation. It leaves the vast majority of farmers disadvantaged in adopting drones to increase productivity and efficiency.
COVID-19 Impact Analysis
The COVID-19 pandemic severely impacted the global agricultural drones market. The lockdowns also hampered manufacturing activities, which disrupted agricultural drone production. Agricultural drones are a high-tech industry that heavily relies on research, development, and innovation to generate growth. The research and developmental activities were disrupted due to the pandemic. Pandemic-induced supply chain problems have created a shortage of essential components, affecting drone production in the post-pandemic period. Despite these challenges, the global agricultural drones market is expected to generate significant growth in the coming years.
By drone type, the global agricultural drone market is segmented into the single rotor, multi-rotor, fixed-wing, and hybrid drones. By application, the global agricultural drone market is segmented into mapping/surveying, crop spraying, irrigation management, crop monitoring, and others.
Hybrid Drone: A hybrid drone is an unmanned aerial vehicle utilizing fixed wings and propellers for generating lift. Fixed-wing vertical takeoff and landing (VTOL) drones provide versatility in operations. Hybrid drones are relatively new and have not yet seen mass adoption in the global agriculture industry.
Geographical Analysis of the Global Market:
However, according to U.S. federal statistics, agriculture productivity during the same period has more than tripled. The adoption of modern technologies has provided a major boost to the North American agricultural industry. Studies by the American Farm Bureau Federation suggest that farmers utilizing agricultural drones generate an increased return of up to US$12 per acre for corn and US$2 to US$3 per acre for soybeans and wheat. The average age of a North American farmer is 57 and small family-owned farms, which account for 90% of U.S. agricultural activity, are actively adopting agricultural drones to boost productivity and alleviate chronic labor shortages. North America is expected to become a leading player in the global agricultural drone market during the forecast period.
Geographically the U.S is one of the leading countries in employing this technique for enhancing crop productivity. Led the rising trend of implementation of UAVs for enhanced productivity and increasing awareness of precision agriculture and field mapping is expected to drive the industry growth in this region.
Agricultural Drones Market Competitive Trends
DJI, DroneDeploy, GoPro, AeroVironment, PrecisionHawk, and Trimble Navigation are some of the major companies operating in the agricultural drones market. Anticipating bright prospects in the agricultural drone industry, Companies are pumping investments to bring in innovations and enhancements to the existing product range on this note corporate investors such as Syngenta, Monsanto, and Mitsui, backed emerging start-ups for improving harvesting, crop spraying, and irrigation.
For instance, in February 2016, the US reported investments in UAVs and robotics with volumes up to USD 389 million in 2015 and approximately 40 companies raising funds. DJI, a well-established player in China, raised USD 75 million during its first drone launch, especially for the agricultural space.
Recent Developments in the Industry:
What is the Projected CAGR value of the Agricultural Drones Market?
Agricultural Drones Market is expected to grow at a CAGR of 28.5% during the forecasting period 2023-2030.
Which region controlled the global market during 2023-2030?
North America region Controls the Agricultural Drones Market during 2023-2030.
Which is the fastest growing region in the Agricultural Drones Market?
Among all regions, Asia Pacific is the fastest growing market share during the forecast period
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