Pune, India, April 27, 2023 (GLOBE NEWSWIRE) -- 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. 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 Forecast, 2020-2027”.
The agriculture drone market is a rapidly growing industry that is transforming the way farmers operate their farms. Agriculture drones, also known as ag drones or farm drones, are unmanned aerial vehicles (UAVs) that are designed specifically for agricultural applications. They can perform a variety of tasks, such as crop mapping, field scouting, crop spraying, and livestock monitoring, among others.
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List of Key Players Profiled in the Agriculture Drone Market Report:
- Drone Deploy (the US)
- DJI (China)
- GoPro (the US)
- Precision Hawk (the US)
- AeroVironment Inc. (the US)
- Trimble Navigation Ltd. (the US)
- 3D Robotics (the US)
- Ag Eagle (the US)
- Parrot Drone (France)
- Sintera LLC (the US)
- Delair Tech SAS (France)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2020-2027 |
| Forecast CAGR | 18.14% |
| 2027 Value Projection | USD 3,697.4 million |
| Market Size in 2019 | USD 1,021.1 million |
| Historical Data | 2016-2018 |
| No. of Pages | 150 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
|
| Regions Covered |
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| Agriculture Drone Market Growth Drivers | Increasing Use of Small Drones in Agriculture to Fuel Demand |
| Huge Private Investments in the Drone Industry to Propel Growth |
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/toc/agriculture-drones-market-102589
COVID-19 Impact:
The COVID-19 pandemic has had a significant impact on the agriculture drone market. The pandemic has disrupted supply chains, decreased demand for certain crops, and created challenges for the agriculture industry as a whole. However, it has also highlighted the importance of technology and automation in agriculture, which could lead to increased demand for agriculture drones in the long term.
Segments:
By Product
- Fixed Wing
- Rotary Wing
- Hybrid
By Components
- Hardware
- Frames
- Control System
- Propulsion System
- Navigation System
- Payload
- Avionics
- Others
- 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
By Geography
- North America (the U.S. and Canada)
- Europe (the U.K., Germany, France, Italy, Spain, and Rest of Europe)
- Asia Pacific (Japan, China, India, Southeast Asia, and Rest of Asia Pacific)
- Rest of World (Latin America and the Middle East & Africa)
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
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Market Driver
Skyrocketing Demand for Food Worldwide to Propel the Agriculture Drone 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, 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 a 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 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 Agriculture Drone market.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments –Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Quantitative Insights- Impact of COVID-19 Pandemic on Agriculture Drone Market
- Impact of COVID-19 on Global Agriculture Drone Market
- Steps Taken by Industry/Companies/Governments to Overcome the Impact
- Key Developments in The Industry in Response To COVD-19 Pandemic
- Potential Opportunities Due to COVID-19 Outbreak
- Global Agriculture Drone Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Fixed Wing
- Rotary Wing
- Hybrid
- Market Analysis, Insights and Forecast – By Components
- Hardware
- Frames
- Control System
- Propulsion System
- Navigation System
- Payload
- Avionics
- Others
- Software
- Imaging Software
- Data Management Software
- Data Analytics Software
- Others
- Hardware
- Market Analysis, Insights and Forecast – By Applications
- Field Mapping & Monitoring
- Crop Spraying
- Crop Scouting
- Variable Rate Application
- Livestock Monitoring
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Rest of the world
TOC Continued...!
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