Press release
Agricultural Drones Market to see 13% CAGR till 2024 | Global Industry Players are 3D Robotics, Aerovironment, Aeryon Labs, AGCO Corporation, Ageagle, Agribotix, Autocopter, BlueSKy, Denel Dynamics, DJI, Draganflyer, Drone4Agro, Dronedeploy, Eagle UAV Ser
Agricultural Drones Market
These UAVs facilitate farmers with aerial cameras for crop monitoring, soil & field analysis, and health assessment of the yield and irrigation assistance. These pros are expected to increase the product adoption among the farmers in the coming years. Farm equipment manufacturers are including the digitalization of farms by providing various features such as GPS, geomapping, satellite imagery, and automated systems. This increasing adoption of precision agriculture will stimulate the demand for UAVs in agriculture.
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The fixed wing agricultural drones market share accounted for about 70% of the revenue in 2016. The segment will dominate the industry over the forecast timeframe owing to the ability to carry heavy payloads and cover long distances. Imaging software plays a key role in processing images captured by cameras mounted on UAVs, which will fuel software revenue in the coming years.
UVAs incorporated with infrared, hyperspectral, and multispectral cameras provide the required vision to the farmers, thus shielding the crops and farm. These images provide the necessary data and support the decision-making process. Images captured by multispectral cameras serve as an effective tool for plant health and soil evaluation analysis. Identification of weeds, pests, pesticide usage optimization, determining spacing issues, visual inspection of crops and fence are among the major benefits.
The companies are investing in UAVs to capture the business early with an enhanced product portfolio. For instance, DuPont invested in drone technology provider PrecisionHawk to include drone technology in its portfolio. The companies are exploring value-added services other than drone manufacturing and crop spraying. The value-added services include data collection, farm management, training, and leasing of UAVs. Higher purchase cost, limited fly time & flight range, and weather dependency are some of the challenges faced by this industry.
UAV LiDAR and photogrammetry imaging applications are potential opportunities for the agricultural drones market size. UAVs mounted with lidar drones in community projects will help in providing aerial view and building topographic maps.
Agricultural Drones Market size was over USD 300 million in 2016, and is set to surpass USD 1 billion by 2024. Global shipments will exceed 200 thousand units by 2024.
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Favorable government initiatives in the agricultural sector is expected to be the key growth factors in the Europe agricultural drones market size. Venture capitalists are investing in unmanned aerial vehicle startups which will yield significant return to the investors. Companies such as Syngenta, Mitsui and Monsanto backed startups for improving crop spraying, harvesting and irrigation. DJI elevated USD 75 million during its first drone launch for the agricultural space.
Asia Pacific agricultural drones market is fueled by technological advancements, government funding, and increasing adoption. In China, the government has included agricultural drones as national subsidized agricultural machinery to increase its adoption. As per the Ministry of Agriculture, China, the agricultural UAV ownership number crossed 4,800 in 2016, which is double the number in 2015. The other agriculture dominated countries in Asia Pacific are expected to contribute to the industry growth owing to the increasing usage of this product to improve the yield.
Some of the players in agricultural drones market include 3D Robotics, Aerovironment Inc., Aeryon Labs, AGCO Corporation, Ageagle, Agribotix, Airogisitic, Autocopter Corp, BlueSKy, Boeing, Delair-Tech, Denel Dynamics, DJI, Draganflyer, Drone4Agro, Dronedeploy, Eagle UAV Services, FT Sistemas, Google, GoPro, Honeycomb Corporation, HUVRData, LLC, Intel, Israel Aerospace Industries, L-3 Communications, Parrot SA, Precisionhawk, RUAG Aerospace, Skycatch, Trimble Navigation Limited, Ursula Agriculture, Yahama and Yuneec.
Table Of Content:
Chapter 1. Methodology and Scope
1.1. Methodology
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Definition and forecast assumptions
1.2. Data Sources
1.2.1. Primary
1.2.2. Secondary
Chapter 2. Executive Summary
2.1. Agricultural drone industry 3600 synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Application trends
2.1.4. Regional trends
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