Agriculture Drone Market Research Report to 2020 | Industry Size, Growth Share, Future Trends, Price, Top Key Players Review, Business Opportunities, Demand and Global Analysis by Forecast to 2027
The global agriculture drone market size is
projected to reach USD 3,697.4 million by 2027, exhibiting a
CAGR of 18.14% during the forecast period. The emergence of startups specializing
in developing unmanned aerial vehicles (UAVs) for agriculture will
significantly enhance the potential of the market. Fortune Business Insights™
shares this observation in its report, titled “Agriculture Drone
Market Size, Share & COVID-19 Impact Analysis, By Type (Fixed Wing, Rotary
Wing, and Hybrid), By Components (Hardware [Frames, Control Systems, Propulsion
System, Navigation System, Payload, Avionics, Others] and Software [Imaging
Software, Data Management Software, Data Analytics Software, Others]), By
Application (Field Mapping & Monitoring, Crop Spraying, Crop Scouting,
Variable Rate Application, Livestock Monitoring, Others), and Regional
Forecast, 2020-2027”.
Agriculture drones have proved to be immensely successful in
raising farm yields around the globe. Given the lucrative opportunities,
several startups have cropped up in this domain, developing UAV solutions
tackling the different aspects of farming operations. For example, Gamaya, a
Swiss startup, is focused on boosting productivity and scalability of small
farms by using advanced mapping and diagnostic systems, enabling farmers to
efficiently manage their farms. Another example is HummingBird Technologies, a
UK-based startup, which develops drones with customized sensors with machine learning
algorithms and computer vision to gather accurate data and imagery to aid
precision farming. Advancements made by these and many more such startups
worldwide will create fertile ground for the growth of this market.
The explosion of the COVID-19 pandemic has brought the global
economy on the precipice of an unforeseen recession. Businesses are stumbling
owing to the sharp economic downturn, with some suffering more than the others.
We aim to equip businesses with quantitative and qualitative impact analysis of
the current pandemic on different markets, based on our expertise and
experience in market intelligence.
The report states that the global market value stood at USD
1,021.1 million in 2019. It also offers the following:
- Unparalleled
insights into the factors driving and constraining market growth;
- In-depth &
piecemeal analysis of the market segments;
- An exhaustive
examination of the regional dynamics impacting the market; and
- Detailed
profiling and study of the key market players and their strategies.
Market Driver
Skyrocketing Demand for Food Worldwide to Propel the Market
The most critical factor driving the agriculture drone market
growth is the expected levels of demand for food and grains worldwide in the
next few decades. According to the UN, by 2050, the world population will reach
9.1 billion, with sub-Saharan Africa’s population projected to grow the
fastest. To meet the food requirements of this surging number of people, the
Food and Agriculture Organization (FAO) estimates that the overall food
production will need to rise by 70% and production in developing countries will
need to double from the current levels. Agriculture drones will play a central
role in supporting the efforts of governments in elevating their farm yields.
These UAVs offer wide-ranging and decisive advantages to farmers, who can make
enormous gains from these machines. For example, drones equipped with smart
sensors can enable farmers to collect accurate information on soil conditions.
Drones can also spray crops with insecticides and pesticides, thus minimizing
farmers’ contact with these harmful chemicals.
Regional Insights
Quick Adoption of Advanced Drones for Agriculture to Feed Market
Growth in North America
North America, with market size of USD 367.6 million in 2019, is
anticipated to lead the agriculture drone market share during the forecast
period. This is mainly attributable to the rapid uptake of advanced UAVs by
farmers in the region to increase farm output. Complementing this is the
framing of friendly policies by lawmakers in the region supporting the
deployment of commercial drones and small UAVs for agricultural activities.
Asia Pacific is expected to generate tremendous growth
opportunities for this market as the countries in the region are heavily
dependent on agriculture and are making massive investments to make agriculture
more technology-driven. In Europe, the ability of farmers to utilize drone
technology for better farm yields will augur well for the market.
Competitive Landscape
Leading Players to Focus on Tapping Innovation Opportunities
Key companies are concentrating all their energies towards
exploiting the wide opportunities for innovation to diversify their portfolios
and entrench their position in the market in the process. Moreover, companies
are also exploring avenues to enter and expand into developing economies, in a
bid to broaden their business horizons.
Industry Developments:
- April
2020: DJI,
the Chinese drone maker, released its new offering called the “Mavic Air
2” drone, the successor to the company’s 2018 Mavic Air drone. The new
product comes in two variants, the standard and the Fly More, with both
being available for immediate purchase in China.
- September 2019: AeroVironment
launched the enhanced, next-gen version of its flagship Quantix VTOL
hybrid drone and the AeroVironment Decision Support System for precision
farming. Equipped with sensors and multispectral imagery capabilities,
Quantix is designed to perform crop scouting and can survey up to 400
acres within 45 minutes.
List of Key Players Covered in the Agriculture Drone Market
Report:
- Delair Tech SAS
(France)
- Parrot Drone
(France)
- 3D Robotics (the
US)
- AeroVironment
Inc. (the US)
- GoPro (the US)
- Drone Deploy
(the US)
- Sintera LLC (the
US)
- Ag Eagle (the
US)
- Trimble
Navigation Ltd. (the US)
- Precision Hawk
(the US)
- DJI (China)
Browse Detailed Summary of Research Report:
https://www.fortunebusinessinsights.com/agriculture-drones-market-102589
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