Agriculture Drones Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

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Agriculture Drones Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

Status : August, 2020 | Semiconductor & Electronics | PPT format

Report Digest

Global Agriculture Drones Market: Overview 

The global market for agricultural drones is likely to gain impetus in the forthcoming years. New entrants will mark the vendor landscape of the global agriculture drone market. These new entries will bring advanced technology and more innovation along with them and propel agriculture drones market towards further growth and prosperity, notes Transparency Market Research in its recent study on agriculture drones. 

Unmanned aerial vehicle, better known as drones, is the aircraft can be maneuvered without the assistance of any human pilot. It has come into existence quite some time ago and is utilized in various industries, such as agriculture, military, mining, and construction. The agricultural usages of drones have gained substantial traction in recent times. It is after the world started experiencing population explosion that led towards the rising need for food. However, use of drones for agriculture with acute precision has been since the 1990s in some parts of North America, Europe, and Asia-pacific. These drones were widely utilized for the purpose of spraying crops, pesticides in the farm area and are still being utilized in the same way for the same purpose in many parts of the world. The agriculture drone market is, as such, the considered most lucrative market that is projected to metamorphose the way of farming. 

The global market for agriculture drones has been segmented based on offering, application, component, and region. Agriculture drones for software and services is expected to rise at ahigher CAGR over the period of forecast. This growth is mainly due to substantial funding done by the investors and venture capitalists in the start-up companies, which are offering analytics and software to digitize the information gathered by drones. These investments are primarily meant for data analytics, imaging, and mapping software. 

Global Agriculture Drones Market: Notable Developments 

Some of notable developments pertaining to the competitive landscape of this market are: 

  • In April 2019, France-based Parrot Drones revealed ANAFI Thermal. It is an all-in-one drone-based thermography solution with proven outstanding performance and reliability. 
  • In March 2019, China based DJI launched DJI Terra, which is a new software tool that converts data collected by drone into digital maps and 3D models for easy analysis and decision-making.
  • In March 2019, AgEagle Aerial Systems, Inc. , based out of the U.S, launched ParkView. It is a proprietary data analytics and aerial imagery platform, which is particularly designed for supporting and assessing sustainability initiatives involving recreation, state, federal public parks, and municipal areas. 
  • Leading players of the global agriculture drones market comprise Ideaforge India Private Ltd, Delair Technologies Inc., Yamaha Corporation, Honeycomb Corporation, Ag Eagle Aerial Systems, and Precision Hawk. Prominent players in the global agriculture drones market are entering into collaborations with software providers and small players are trying to bring advanced yet easy-to-use drone packages. 

Global Agriculture Drones Market: Growth Drivers 

  • Increasing Awareness about Huge Benefits of Drones 

Prominent factors that would lead to the progress of agriculture drones market are need to better agricultural output, government support to make use of latest technologies in agriculture and improved awareness about precision farming. Drones are able to generate precise data, which can be useful for farmers to supervise crop health, diminish the effect of climate change, and effectively locate weed. The drones are also useful in uniform spraying of pesticide and crops for better yield.  

  • Advancement in Technology to Usher in Further Market Growth 

The growing numbers of low-cost, innovative, and technologically advanced products in the global agriculture drones market are also contributing towards lucrative growth prospects of the market. Speedy research and development activities in the stream of robotics in Asia Pacific is expected result in the promising development of the global agriculture drone market. 

Global Agriculture Drones Market: Regional Outlook 

On the basis of region, the global agriculture drones market has been divided into North America, Asia Pacific, Latin America, the Middle East and Africa, and Europe. North America is projected to occupy the lion’s share of the global agriculture drones market over the period of forecast. Such growth is due to the exemption from Federal Aviation Administration (FAA) under the part 107 rule, which leads to increased adoption of drones in the agricultural sector. 

The global agriculture drones market is segmented as:  

On the basis of offering

  • Hardware and Software
  • Services

On the basis of application

  • Precision Farming
  • Livestock Monitoring
  • Precision Fish Farming
  • Smart Greenhouse 

On the basis of components

  • Frames
  • Controller Systems
  • Propulsion Systems
  • Camera Systems
  • Navigation Systems
  • Batteries
  • Others

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.