The market for agricultural drones was valued at USD 1.37 billion in 2020 and is anticipated to grow at a revenue CAGR of 34.5% over the ensuing five years. Some aspects that are anticipated to contribute to the market revenue growth during the forecast period include the rising demand to improve crop health monitoring and promote agricultural productivity to lessen pressure on the world’s food supply. Unmanned aerial vehicles (UAVs) are becoming more popular among agricultural engineers, agronomists, and farmers as a way to more effectively monitor fields and more precisely plan and manage operations. Drone technology is beneficial throughout the growing season, from observing plant emergence to anticipating pre-harvest yields and planning drainage for the following season.
The increase in the number of top vendors investing in the agriculture sector, together with the availability of software solutions for data analytics and field surveys, are significant factors that have an impact on the growth of the global agriculture drone market. However, the proliferation of air traffic management for commercial drone legislation around the world is acting as a significant impediment to early adoption, which slows the market’s expansion. However, during the projection period, it is projected that the growing use of aerial data collecting techniques in agriculture would offer the lucrative potential for industry growth.
The COVID-19 epidemic has spread alarmingly quickly to more than 200 nations worldwide. Since its breakout, the coronavirus has killed thousands of individuals and infected millions more. Due to the stringent limits put in place to stop the spread of the epidemic, these variables have had an impact on the state of the world economy. The pandemic has also caused long-term economic harm and is probably going to start a world recession. However, the epidemic has caused a dramatic increase in the need for many forms of farming machinery, particularly for labor-intensive tasks, in many different countries. For several months, the easy flow of supply chains, yield losses, and lower productivity have been hampered by a lack of labor availability brought on by the pandemic.
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Some Key Highlights From the Reports:
Agriculture drones market for hardware to hold a larger share during the forecast period:
Sequoia, a multispectral sensor for agricultural drones by SenseFly (Switzerland), can take photos in 4 distinct visible and non-visible spectral bands as well as RGB imagery in a single flight. Lancaster is a fixed-wing UAV with an IR camera system offered by PrecisionHawk (US), a major player in the field. Any agricultural drone can carry FLIR Vue, a thermal camera provided by FLIR Systems (US), as a payload for precision agriculture applications.
DJI, PrecisionHawk, Trimble Inc., Parrot SA, AeroVironment, Yamaha Motor Co., Ltd., AgEagle Aerial Systems, Inc., DroneDeploy, 3DR, and Sentera, Inc.
Agricultural drones are expected to grow at the greatest rate throughout the projected period:
The market for navigation systems for agricultural drones is anticipated to expand at the greatest CAGR during the forecast period. Cutting-edge precision farming sensors are made possible by Sentera’s (US) use of cutting-edge multispectral cameras, AI, and GPS + INS (Inertial Navigation System) technology. Agriculture drones can accomplish centimeter-level location and orientation with the use of navigation technologies.
Over the projected period, North America’s agriculture drones market is anticipated to contribute the greatest revenue share. Precision Hawk, Trimble Inc., 3DR, AeroVironment, and AgEagle Aerial Systems, Inc. are among the regional businesses working with numerous large farming cooperatives to boost agricultural productivity by offering precise information about crop health through the use of cutting-edge agriculture drones.
Due to the growing demand for better crop health monitoring and quality, the field mapping segment is anticipated to hold a sizable revenue share in the worldwide agriculture drones market. By delivering information that helps farmers and other agricultural experts detect any anomalies in the field, drones aid in field mapping.
Component Outlook (Revenue, USD Billion; 2018-2028)
- Software and Services
Integrant Outlook (Revenue, USD Billion; 2018-2028)
- Controller System
- Propulsion System
- Camera System
- Navigation Systemcentimeter-level
Application Outlook (Revenue, USD Billion; 2018-2028)
- Crop Scouting
- Field Mapping
- Livestock Monitoring
- Smart Greenhouse
- Crop Spraying
Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- the Asia Pacific
- Latin America
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