Dublin, March 11, 2022 (GLOBE NEWSWIRE) -- The "Agriculture Drones - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Agricultural drones are unmanned aerial vehicles designed for monitoring crop growth and boosting production. Equipped with digital imaging capabilities and advanced sensors, these drones provide farmers with a detailed picture of their farms to help them improve farm efficiency and crop yields.
The bird`s-eye view of the field offered by agricultural drones allows farmers to identify various issues like fungal/pest infestations, irrigation problems and soil variation. Multispectral images offered by agricultural drones reveal a near-infrared view and a visual spectrum view, enabling farmers to identify differences between unhealthy and healthy plants, which are difficult with the naked eye. These views help farmers in evaluating crop growth as well as crop production.
Agricultural drones can be used by farmers for a periodical survey of crops, providing hourly, daily or weekly images revealing changes in crops and trouble spots for better crop management. Amid the COVID-19 crisis, the global market for Agriculture Drones is projected to reach US$4.4 Billion by 2024, registering a compounded annual growth rate (CAGR) of 30.2% over the analysis period. The United States represents the largest regional market for Agriculture Drones, accounting for an estimated 31.1% share of the global total. The market is projected to reach US$1.9 Billion by the close of the analysis period. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 36.9% over the analysis period.
Agricultural drones are set to disrupt the agriculture industry owing to their immense potential to make agriculture more efficient, precise and productive. With farmers grappling with mounting pressure to boost production while adapting to climate change and dealing with various issues, drones present a compelling solution to improve the efficiency of the entire farming enterprise.
Farmers can use the technology to timely identify failing plants, take crop inventory, study and map farmland, improve the efficiency of irrigation systems. Agricultural workers can exploit the technology for collecting data, automating redundant processes and maximizing efficiency. In addition to spraying water, fertilizers or pesticides on crops, drones can be used for livestock monitoring and tracking animal population and health.
Drones considerably expedite various time-intensive tasks to improve overall productivity. Equipped with cameras, sensors and advanced data-gathering devices, agricultural drones offer detailed images of farms from the sky to help farmers identify plant health, soil conditions and dry spots or plant pests. The technology is witnessing increasing acceptance among farmers globally to intensify production. While farmers in Japan are relying on agricultural drones to deliver pesticides or fertilizers, US farmers are investigating drones for identifying dry spots or other stress areas.
Technology is anticipated to also play an important role in generating new job opportunities and attracting people towards farming. Over the last several years, a large number of people in the EU and US have turned away from agriculture owing to factors such as inadequate farm incomes, low reliability, and risky, seasonal and demanding nature of farming.
Considering these factors, less than 1% of the US is engaged in farming, with the total number of farm workers in the country declining from around 3.4 million during the last century to less than 1 million. Agricultural drones are anticipated to reverse the trend by making farming a more efficient and productive venture.
Select Competitors (Total 44 Featured)
- AeroVironment, Inc.
- AgEagle Aerial Systems Incorporated
- Delair Technologies Inc.
- DroneDeploy
- Parrot SA
- PrecisionHawk
- SZ DJI Technology Co., Ltd.
- Trimble Navigation
Key Topics Covered:
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Need to Increase Agriculture Production Amid Food Security Concerns Drives Focus on Farm Automation
- Agriculture as a Percentage of GDP by Region (2018)
- Global Population (in 000s) by Region for the Years 2018, 2025, 2035 & 2045
- Climate Change and its Negative Impact On Agriculture Increases Reliance On Advanced Farming Systems & Technologies to Sustain Crop Production: Average Global Surface Temperature (In Degrees Fahrenheit) For The Years 1940, 2000 And 2020
- Agriculture Industry Embraces Drones to Intensify Production
- Drones Emerge to Revolutionize Farming in the 21st Century
- Outlook
- US Occupies Major Revenue Share
- Recent Market Activity
- Agriculture Drones - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Growing Focus on Precision Agriculture Spurs Demand for Drones
- Shrinking Arable Land and the Need to Improve Agricultural Efficiency and Yield Raises Significance of Drones
- World Arable Land: 1961-2050
- Continuing Advances Enable Agricultural Drones to Undergo Major Refinements
- AI Presents Perfect Match for Drones to Enable High-Performance Agricultural Drones
- Companies Gear Up to Tap into Agricultural Drone Demand for Field Mapping Application
- Agricultural Drones Powered by Multispectral Imaging Transform Farming Practices
- Rise in Popularity of Multi-Rotor Drones
- Software Enhancements to Drive Growth
- Incorporation of Advanced Sensors Makes Agricultural Drones More Efficient
- Rise in Use of Drones for Spraying Pesticides Revolutionizes Agricultural Sector
- Rise in Significance of Drones in Controlling Invasive Plants
- Drones Find Use in Dispensing Beneficial Pest-Eating Insects
- Drone Swarms Technology for Spraying of Large Areas
- Developing Economies Exhibit High Interest in Using Drones for Agricultural Spraying Purposes
- Legislative Policies Continue to Present Challenges for Drone Use in Spraying Applications
- High Cost of Drones & Shortage of Trained Pilots Remain Major Issue
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
ITALY
UNITED KINGDOM
REST OF EUROPE
ASIA-PACIFIC
REST OF WORLD
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/mds3y5
