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Agriculture drone Market Share, Scope, Revenue, Trends, Drivers, Challenges forecast 2024

01-14-2020 01:57 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Kenneth Research

Agriculture drone Market Share, Scope, Revenue, Trends,

The global agriculture drone market was estimated as USD 193.4 million in 2015 and is expected to grow significantly over the forecast period. The technology is gaining the traction among farmers for better productivity and efficient use of land, water, and fertilizers.Increasing investments and interest in technology from venture firm to the manufacturers are also anticipated to be enhancing the market demand. Agriculture drones are emerging as a productive sector in commercial drone application industry. The technology includes imaging capabilities, sensors and better materials which are further expected to drive the market.

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These drones contributes in taking snapshots of a vast area of fields, providing the important and crucial data related to soil and crops, that further aids in crop management. The drones or UAVs are used for crop monitoring which also enhance yields and further reduces the cost of airplane fly-over filming.

Growing applications have influenced the industry for investing significantly in funding the drone-based startups. The startups in the industry are focusing on developing the software & hardware and the services associated with the UAVs which has accounted for more than 80% of the market.
Based on the products, the market is segregated into rotary blade, fixed wing and hybrid. The fixed wing segment is expected to dominate the market owing to the capabilities of carry heavy payloads, and cover long distance in the long run. Increasing need for inspection and mapping, for monitoring the fields has enhanced industry demand over the forecast period.

The application segment of agriculture drones is segmented into field mapping, variable arte categorization, crop scouting and others. Furthermore, the field mapping application is estimated to dominate the market in 2015 owing to the benefits associated which include analyzing and monitoring the crops for increased yields.
The drones has the capability to precisely spray fertilizers without causing any issues related to over spraying and disturbing soil fertility, further enhancing the crop scouting application market over the forecast period. Additionally, increasing yields and reduction of wastage of crops and pesticides & fertilizers is also anticipated to propel the industry.

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Although, stringent regulations and lack of trained pilots is projected to hinder the industry growth over the forecast period. Maintaining the drone as a legal entity and securing the air safety are the major concerns of the industry. Few countries such as Kenya, Nepal have bans or have implemented strict regulations for the applications of UAVs.

The North America region is estimated to dominate the industry in 2016 owing to the increasing implementation of UAVs for enhancing the productivity and rising awareness of precision farming for filed mapping and crop scouting is further anticipated to drive the industry. Asia Pacific region is projected to witness the significant growth over the forecast period. Increasing adoption and investments in R&D for technological developments will benefit the industry.

Trimble Navigation, DroneDeploy, PrecisionHawk, DJI and AeroVironment are some of the major players in the agriculture drones market. The industry players are focusing strategic acquisitions for gaining the competitive market share. Corporate investors such as Syngenta, Monsanto are backing the emerging start-ups for further developments and improvements in drone application fields. Furthermore, the existing players

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Kenneth Research
Email: Sales@kennethresearch.com
Phone: +1 313 462 0609

About Kenneth Research:

Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products’ demand, growth and opportunities for new and existing players.

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