IMARC Group, a leading market research company, has released a report titled “Agriculture Drones Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. According to the report, The global agriculture drones market size reached US$ 1,530.1 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 9,558.4 Million by 2028, exhibiting a growth rate (CAGR) of 35.65% during 2023-2028.
Agriculture drones are unmanned aerial vehicles (UAVs) employed in farming operations to perform manual tasks and provide real-time information on crop conditions and livestock movement. They are equipped with sensors that have digital imaging capabilities, including multispectral actuators and high-resolution camera systems. They are generally employed to enhance variable-rate prescriptions in real-time, optimize the utilization of fertilizers, seeds, and water, and estimate field yields. Additionally, they minimize pollution, save costs, improve productivity and efficiency, monitor environmental data, and adapt to climatic change. Consequently, agriculture drones find widespread application in activities such as crop scouting, field surveying, spreading, spraying, and livestock and fisheries surveillance across the globe.
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Agriculture Drones Market Trends and Drivers:
The market is primarily driven by the rising demand for food due to the growing population. Agriculture drones are used for numerous tasks, such as pesticide spraying, improving crop yields, and minimizing labor-intensive work, to enable farmers to produce enough food. In line with this, several agri-tech companies are introducing innovative models for easing farming practices by focusing on wireless platforms, such as drone technology, to allow real-time decision-making about crop health monitoring, yield monitoring, field mapping, irrigation scheduling, and harvesting management to improve agricultural productivity. Along with this, the continuous technological advancements, such as the incorporation of machine learning (ML) and artificial intelligence (AI) with normalized difference vegetation index (NDVI) imaging technology, which offer high-resolution images to monitor crop health, assess soil conditions, and predict crop yields, represent another major growth-inducing factor. Besides this, the widespread adoption of agricultural drones amid the recent outbreak of the coronavirus disease (COVID-19) pandemic and the implementation of stringent lockdown measures resulting in a labor shortage and rising demand for agricultural drones to facilitate farming operations are accelerating the product adoption rate. Apart from this, agriculture drones are growing at different rates in numerous regions, with North America being one of the largest markets due to the continuous technological advancements, increasing product demand in commercial farming practices, availability of several vendors, and rising environmental concerns regarding resource wastage and water conservation. Moreover, the industry is expected to face competition in the upcoming years as various key players are implementing competitive strategies to sustain their presence in the market. For instance, in April 2021, the US government implemented an executive order to mitigate the impact of climate change and promote the transformation of the agricultural sector with increased emphasis on precision farming practices and the adoption of drone technology. Moreover, in February 2022, Trimble launched an advanced three-dimensional (3D) paving control system for Asphalt compactors, specifically developed to improve the speed and accuracy of the compactors. Furthermore, the introduction of drones with automated flight planning capabilities that enhances operational efficiency and productivity and assist farmers in mitigating the impact of climate change and unpredictable weather patterns, accurately measuring land size, and creating soil maps are creating a positive market outlook.
The report has segmented the market into the following categories:
Breakup by Offering:
- Fixed Wing
- Rotary Wing
- Hybrid Wing
- Data Management Software
- Imaging Software
- Data Analytics Software
Breakup by Component:
- Controller Systems
- Propulsion Systems
- Navigation Systems
Breakup by Farming Environment:
Breakup by Application:
- Field Mapping
- Variable Rate Application
- Crop Scouting
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- 3D Robotics Inc.
- AeroVironment Inc.
- AGCO Corporation
- AgEagle Aerial Systems Inc.
- American Robotics Inc. (Ondas Holdings Inc.)
- Parrot Drone SAS
- PrecisionHawk, Trimble Inc.
- Yamaha Motor Co. Ltd.
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