The Global Drone Farming Market is expected to grow at a high CAGR during the forecasting period (2022-2029).
Drone Farming is unleashing a new future for the agriculture industry. Pressure on global food supply owing to climate change all around the world is growing the market for drone farming.
An agricultural drone is an unmanned aerial vehicle applied to farming to help increase crop production and monitor crop growth. Sensors and digital imaging capabilities can give farmers a richer picture of their fields. This information may prove useful in improving crop yields and farm efficiency.
The report covers all the major trends and drivers playing a vital role in the growth of the global Drone Farming market. The global Drone Farming market has been segmented based on Region, Type, Offering, and Application.
The global Drone Farming market growth is primarily driven by the rise in the pressure on the global food supply owing to climate change and high rates of the global population. ICT-driven tools and technologies to enhance decision making through accurate, reliable, and timely information have an important role to play, which has increased the adoption of such technologies to increase the yield. The companies are making software for better decision making and increase yield for agriculture. For instance, in November 2018, Parrot, the leading European drone group, today announces Parrot Bluegrass Fields, an end-to-end agriculture drone solution, which provides farmers, agronomists, and researchers with the insights they need to boost the quality of their crops and maximize yields.
However, lack of awareness among people and the government regulation for the air traffic management for commercial drones will hinder the growth of the Drone Farming market for the forecast period.
By Type, the global Drone Farming market is segmented into Single Rotor Drone, Multi-Rotor Drone, Fixed Wing Drone, and Others. Fixed-wing Drone has the dominant position in the Type segment and is expected to retain their dominance in the forecasted period due to they can fly high are used for mapping and the survey of agricultural lands. However, multi-rotor drone is expected to grow with higher CAGR in the forecast period due to the high precision and also, they can take off and land vertically.
By Offering, the global Drone Farming market is segmented into Software services and Hardware. Software Services has the dominant share in the Offering segment and is expected to retain its dominance in the forecast period. The rise in the collection is data from the fields are stored in databases to process and get the insights from the data. The various investments done in the agriculture software companies such as Taranis (Israel), a precision agriculture intelligence platform, announced the closing of a USD 20 million Series B round of financing. With the potential to increase yields by 7.5%, Taranis uses deep-learning technology and agronomic understanding to offer unprecedented insights that create a more sustainable farming ecosystem. Taranis turns the collected data into actionable insights, helping farmers monitor their acreage effectively by improving crop yields and cutting costs.
By geography, the global Drone Farming Market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).
North America holds the largest market share for Drone Farming Market. The growth is attributed to the exemption from the Federal Aviation Administration (FAA) under the part 107 rule, which is leading to the high adoption of drones in agriculture. With the growing demand, there is a huge investment in the region for the development of drones. For instance, California-based Joby Aviation says it has secured $100 million in Series B financing to take its all-electric passenger aircraft into pre-production and regulatory certification. Intel Capital led the investment round, which also includes Singapore-based EDBI, JetBlue Technology Ventures, Toyota AI Ventures, Allen & Company AME Cloud Ventures, Ron Conway, Capricorn Investment Group, 8VC, Sky Dayton, and Paul Sciarra. Joby also revealed a previously unsecured Series A round, led by Capricorn in 2016, which brings total funding to $130 million.
Europe is after North America in terms of market share in the global Drone Farming market, due to favorable regulations by the government. Asia-Pacific will be growing with the highest CAGR for drone farming in the next few years. The presence of large farming lands and high population growth has created a large demand for food. China, India, and Japan are the major contributor to the Asia-Pacific region. The drone industry is characterized and driven by one company: Da-Jiang Innovations (DJI), China. DJI has over 70% of the global market share for the consumer drone industry, with revenue of $2.7 billion in 2017. No Western-based company can compete with the complete supply chain integration, manufacturing pipeline, innovative pace and logistics support that defines the Shenzhen-based company. This provides immense and clear competitive advantages.
Key players are adopting strategies such as investing in R&D, new product launches, expansion in distribution channels to stand out as strong competitors in the market. The Global Drone farming Market is a fragmented market with the presence of various global and regional players in the market. The major players include 3D Robotics, DJI, Precision Drones, Ageagle LLC, and Agribotix LLC. Other key players in the market include Honeycomb, Yamaha Motor Co Ltd, Delair Tech SAS, Trimble Navigation Ltd,
In December 2018, DJI released the latest agricultural UAV T16 in Shenzhen. This is a new product line after last year's MG series of agricultural drones. The price of the T16 is 31,888 yuan, not much different from that of the MG series. The T16 has been upgraded in terms of functionality. The spraying efficiency of 150 mu per hour has been achieved, which increased 67% by comparing with the previous generation; The charging speed has increased 50%; The sensor of agricultural UAV has been doubled; Compared with the previous generation products, the life of the material of pump of composite material has been increased by 60%.
In November 2018, Delair a leading supplier of commercial drone solutions, today announced a new drone platform specifically optimized for the agriculture industry, the Delair UX11 Ag. Built on the foundation of the successful Delair UX11 fixed-wing UAV, the new version combines the productivity benefits of long-range/BVLOS flight operations with highly accurate survey-grade mapping and plant data collection capabilities – all in an easy-to-use platform – to enable a new level of decision agriculture.
**The global Drone Farming market report would provide access to an approx., 61 market data tables, 55 figures, and 150 pages.
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