Global Agriculture Drones Market Research - 2030
The Global Agriculture Drones Market size was valued at $0.88 billion in 2020, and is projected to reach $5.89 billion by 2030, registering a CAGR of 22.4% from 2021 to 2030.
Agriculture drones are spray drone enhanced unmanned aerial vehicles designed to optimize agriculture operational efficiency, crop production, and monitoring over crop growth. Further, drone sensors and digital imaging capabilities are intended to offer farmers a richer picture of their fields. Furthermore, sudden climate changes globally are creating new layers of complexity in the agriculture industry, which boosts the need for advanced solutions such as agriculture drones to improve crop yield and firm efficiency. Moreover, aerial view provided by drone farming can reveal various issues such as soil variation, irrigation problems, and fungal infestations act as a set of instructions used in agriculture to survey crops to rapidly identify problems.
The global supply chain is at an all-time high, and commodity prices at are an all-time low because of rising demand for food production and consumption, propelling the need for a modern farming solution across the agriculture industry globally. Further, drones globally have revolutionized the agriculture industry by offering enhanced efficiency, cost-saving, and more profitability. In addition, the global agriculture drone market is still in its nascent stage; however, breakthroughs in drone technology are expected to fuel the agriculture drones market growth in the coming years.
The agriculture drones market share is expected to witness notable growth during the forecast period, owing to rise in venture funding for deployment of drones in the agriculture industry, globally. Furthermore, surge in adoption of precision farming solutions drives growth of the market during the forecast period. Moreover, surge in demand for a reduction in cost associated with human error is expected to propel the agriculture drones market analysis.
However, rise in drone related government regulations globally is expected to restrain the market growth. Further, surge in presence of automation in farming and agriculture industries presents ample growth opportunities for drone applications. In addition, exemptions by the U.S. federal agencies in the agriculture sector is expected to provide lucrative opportunity for growth of the agriculture drones market forecast.
Emergence of COVID-19 has immensely affected growth rate of the market in 2020. Further, the market is estimated to witness relatively slow growth till the end of 2021, owing to government regulations globally.
The market was primarily hit by several obstacles created amid the COVID-19 pandemic in the construction industry including the availability of raw materials, skilled workforce and safety measures, deliverables, contractual obligations, and project delays or cancellations. Consequently, it resulted in decreased demand for global agriculture drones.
By Offering
Hardware segment is projected as one of the most lucrative segments.
The agriculture drone market is segmented based on offering, components, and application. On the basis of offering, the market is fragmented into hardware and software. The hardware segment dominated the market, in terms of revenue in 2020, and is expected to follow the same trend during the forecast period. Based on component, the market is segregated into camera, batteries, navigation system, and others. The camera segment was the highest revenue contributor in 2020, and is anticipated to garner significant market share during the forecast period.
Based on hardware type, the market is fragmented into fixed wing, rotary wing, and hybrid wing. The fixed wing segment dominated the market, in terms of revenue in 2020, and is expected to follow the same trend during the forecast period. From application, the market is fragmented into precision agriculture, livestock monitoring, smart greenhouse, irrigation, and precision fish farming. The agriculture drones market share of precision agriculture segment garnered the highest in 2020, and is expected to grow at a high CAGR from 2021 to 2030.
Region wise, the agriculture drones market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). North America is expected to develop at highest rate during the forecast period. North America, specifically the U.S., remains a significant participant in the global agriculture drones market. Major organizations and government institutions in the country are intensely putting resources into the technology.
By Application
Precision Agriculture segment is expected to secure leading position during forecast period.
Top Impacting Factors
Significant factors that impact growth of the global agriculture drone market include increase in number of prime vendor investments in the agriculture industry, coupled with availability of software solutions for data analytics and field survey. However, surge in air traffic management for commercial drone regulations across the globe is acting as a major barrier for early adoption, which hampers growth of the market. On the contrary, rise in number of aerial data collection tools in the farming industry is anticipated to provide remunerative opportunities for expansion of the agriculture drones industry during the forecast period.
Competition Analysis
Competitive analysis and profiles of the major players in agriculture drones industry are AeroVironment, Inc., AgEagle Aerial Systems, Inc., America Roboticss, DJI, Israel Aerospace Industries, Microdrones, Parrot Drones, PrecisionHawk, Trimble Inc., and Yamaha Motor Corp. are provided in this report.
By Region
Asia-Pacific region would exhibit the highest CAGR of 23.8% during 2021-2030
Key Benefits For Stakeholders
- This study comprises analytical depiction of the agriculture drone market size along with the current trends and future estimations to depict the imminent investment pockets.
- The overall agriculture drone market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current agriculture drone market forecast is quantitatively analyzed from 2021 to 2030 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the smart display.
- The report includes the market share of key vendors and agriculture drone market trends.
Key Market Segments
By Offering
- Hardware
- Fixed Wing
- Rotary Wing
- Hybrid Wing
- Software
By Component
- Cameras
- Batteries
- Navigation Systems
- Others
By Application
- Precision Agriculture
- Livestock Monitoring
- Smart Greenhouse
- Irrigation
- Precision Fish Farming
Key Players
- AeroVironment, Inc.
- AgEagle Aerial Systems, Inc.
- America Robotics
- DJI
- Israel Aerospace Industries
- Microdrones
- Parrot Drones
- PrecisionHawk
- Trimble Inc.
- Yamaha Motor Corp.
Agriculture Drones Market Report Highlights
| Aspects | Details |
 By Offering |
|
 By Component |
|
 By Application |
|
 By Region |
|
 Key Market Players | 3D Robotics, DRONEDEPLOY, .AGEAGLE AERIAL SYSTEMS INC., AMERICAN ROBOTICS, DJI, ISRAEL AEROSPACE INDUSTRIES, AEROVIRONMENT INC., MICRODRONES, YAMAHA MOTOR CORP., PRECISIONHAWK. |
Analyst Review
The agriculture sector is the most promising sector witnessing a surge in adoption for enhanced artificial intelligence-based applications such as drones. Drones in the agriculture sector are developed to spray fertilizers conveniently and efficiently and for crop monitoring and imaging. Further, aerial view provided by drones can reveal many issues such as soil variation, irrigation, and pest and fungal infestations. In addition, rise in demand for a next-generation farming solution is expected to offer profitable opportunities for the agriculture drones market.
Drones are popular for use in the agriculture and farming sector, owing to surge in adoption of digital solutions to optimize agriculture operations and monitor crop growth. Moreover, agriculture drone applications such as fixed-wing, rotary-wing, and hybrid wings have advance enhanced features such as thermal imaging, GPS module, and improve variable-rate prescriptions in real-time, forecast to provide lucrative opportunities for market growth.
Globally, various key players are investing in agriculture drones to make them compatible with various industrial platforms. For instance, in January 2021, American Robotics, became the first company approved by federal aviation administration to operate automated drones without human operators on-site. In addition, on 13 April 2020, XAG organized first-ever rice direct seeding demonstration through drones. All these developments across agriculture drones showcase lucrative growth opportunities for the market growth.
The key players profiled in the report include AeroVironment, Inc., AgEagle Aerial Systems, Inc., America Roboticss, DJI, Israel Aerospace Industries, Microdrones, Parrot Drones, PrecisionHawk, Trimble Inc., and Yamaha Motor Corp are provided in this report.
A. The Agriculture Drones Market is estimated to grow at a CAGR of 22.4% from 2021 to 2030.
A. The Agriculture Drones Market is projected to reach $5.89 Billion by 2030.
A. To get the latest version of sample report
A. The agriculture drones market share is expected to witness notable growth during the forecast period, owing to rise in venture funding for deployment of drones in the agriculture industry, globally.
A. The key players profiled in the report include agriculture drones industry are AeroVironment, Inc., AgEagle Aerial Systems, Inc., America Roboticss, DJI, Israel Aerospace Industries, Microdrones, Parrot Drones, PrecisionHawk, Trimble Inc., and Yamaha Motor Corp
A. On the basis of top growing big corporations, we select top 10 players.
A. The Agriculture Drones Market is segmented on the basis of offering, components, application and region.
A. The key growth strategies of Agriculture Drones Market players include product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations.
The hardware segment accounted for the maximum revenue and is projected to grow at a notable CAGR over 2021-2030.
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