Agricultural Drone Market Size
Global Agricultural Drone Market reached USD 2,424.1 million in 2023 and is projected to witness lucrative growth by reaching up to USD 14,290.2 million by 2031. The market is expected to exhibit a CAGR of 25.1 % during the forecast period (2024-2031).
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. 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 increase crop production with the help of innovative sensors.
Market Summary
| Metrics | Details |
| CAGR | 25.1% |
| Size Available for Years | 2022-2031 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | Drone type, Component, Application, and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America and Middle East & Africa |
| Fastest Growing Region | Asia Pacific |
| Largest Region | North America |
| 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, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Market Dynamics
Rising adoption of innovative technologies in drones to boost agricultural productivity
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. 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.
Stringent government regulations hamper market growth
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.
Market Segmentation Analysis
The global agricultural drone market is segmented based on drone type, component, application, and region.
Increase in the applications of multi-rotor drone in agriculture helps to boost market growth
Agricultural drones market have been segmented by drone type as single rotor drone, multi-rotor drone, fixed wing drone and others.
The market value for multi-rotor drone segment is likely to reach USD 6626.1 million in 2030, from its recorded value of USD 934.0 million in 2022, growing with a CAGR of 28.0% during the forecast period (2023 to 2030).
Mutirotor drones are the easiest and cheapest option for getting analysis of the field from the sky. It offers greater control over position and framing; hence, they are perfect for aerial photography and surveillance. Some of the major key players follows a merger and acquisition strategy to expand their business of mutirotor drones. For instance, in October 2021, European drone developer Fixar partnered with paras aerospace to enter the Indian market. The first step of this collaboration is the company launching its flagship fixed-wing drone, FIXAR 007, in India.
Market Geographical Share
Increasing adoption of drones to increase crop yield in North America
By region, the global agricultural drone market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East and Africa.
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 the 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 over the forecast period.
Major Global Players
The major global players include XAG Co., Ltd., DJI, 3D Robotics, Ageagle LLC, Agribotix LLC, Honeycomb Corporation, Yamaha Motor Co.Ltd, Trimble Navigation Limited, HUVRData LLC, and Precision Drones.
COVID-19 Impact on Market
The COVID-19 pandemic severely impacted the global agricultural drones market. The lockdowns 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.
Key Developments
- On April 27, 2022, Trimble Inc. partnered with HORSCH, one of the world’s leading manufacturers of modern agricultural technology that will focus on autonomy in agriculture. This partnership will be centered on developing solutions, including autonomous machines and workflows, which speaks to many exciting developments to come.
- On November 23 2022, DJI, the world’s leader in civilian drones and creative camera technology, launched DJI Mavic 3 Multispectral, by bringing advanced productivity tools to individuals and organizations engaged in precision agriculture around the world. This version of DJI Mavic 3 is equipped with a multispectral imaging system that quickly captures crop growth information.
- On October 21, 2021, Aeronavics, a Hamilton industrial aerial robotics company whose clients include the US Navy, relocated and expanded its manufacturing operation from Hamilton to 26 Kennels Rd, Washdyke. This expansion will help the company to increase the agricultural drone business internationally.
Why Purchase the Report?
- To visualize the global agricultural drone market segmentation based on drone type, component, application, and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of agricultural drone market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as Excel consisting of key product of all the major players.
The global agricultural drone market report would provide approximately 61 tables, 56 figures, and 195 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companie
