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Agricultural Drones Marketby Industry Growth Analysis and Forecast to 2024 |Aerovironment Inc., Aeryon Labs, AGCO Corporation, Autocopter Corp, Boeing, Delair, Denel Dynamics, DJI, Dronedeploy

03-18-2020 05:22 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Global market Insights

Agricultural Drones Market

Agricultural Drones Market

DroneDeploy, a major player in global Agricultural Drones market, has recently announced the launch of a new product in the beta version, named Fieldscanner, that offers real-time drone mapping. With the help of this product, farmers will be able to use any drone to create a map of their fields and register the insights before the drone lands. The product is a part of DroneDeploy's iOS app and is touted to be used massively by landowners. Other companies operating in Agriculture Drones market such as PrecisionHawk, DJI, Trimble Navigation, AeroVironment, and GoPro have also been undertaking similar efforts to innovate modern technologies to be incorporated in drones so as to utilize their potential and capacity to the maximum for crop scouting and mapping. This factor will push Agricultural Drones market over the years to come.

Market players are also concentrating on increasing their investment allocation and acquiring other companies to diversify their product portfolio. DJI, the Guangdong-based Chinese technology company, for instance, invested more than USD 75 million to launch its first drone that was especially designed to serve the requirement of the agricultural sector. Major giants such as Mitsui and Syngenta, and Mitsui have also collaborated with established players and financially helped firms to improve irrigation processes, harvesting, and crop spraying. Continuous efforts by such established organizations is sure to propel Agricultural Drones market.

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Based on core hardware technology, Agriculture Drones industry encompasses nano, fixed wing, hybrid, and multi-rotor drones. Fixed wing products held more than 70% of the overall Agriculture Drones market share in 2016. These products are capable of functioning over longer distances and possess the ability to carry heavy payloads. Pertaining to these factors, fixed wing Agriculture Drones industry is forecast to dominate the global Agricultural Dronesmarket over 2017-2024.

The agricultural drones have gained maximum leverage from the Internet of Things, arguably making agricultural industry much more advanced than ever before. The IoT is now set to drive the future of farming to the next level. High-tech and smart farming are no more things of the past, thanks to sensors and agricultural drones. Software solutions are in a way helping farmers by delivering real-time data for boosting yields. Furthermore, all of these technologies including satellite farming and agricultural drones are helping precision farming market to stimulate over the coming years.

Not surprisingly, agricultural drones market has substantially commercialized over the recent years.
U.S. agricultural dronesindustry is set to observe significant gains over the coming seven years, having accounted for 30% of the overall industry share in 2016. A notable increase in the deployment of UAVs in the region for improving crop productivity and field mapping has provided a major spur to agricultural dronesindustry. The field mapping application accounted to be the leading segment in the overall agricultural drones market.

Crop scouting application within the agricultural dronesmarket is also assisting the farmers in achieving perfection and accuracy in fertilizer and pesticides spraying. These drones use the Normalized Difference Vegetation Index (NDVI), which detects plants under pressure with the help of various infra-red sensors. It is also used in differentiating the bare soil from grass or forest. Moreover, the UAVs mounted with LiDAR photogrammetry imaging applications helps in building topographic maps and providing an aerial view of the field.

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The digital agriculture brought by these drones and robots is charting a path for next-gen agricultural industrialization. As per the UN Food and Agriculture Organization, by 2050, the world will need to produce 70% more food than it did in 2006 to feed the ever-growing population of the Earth. To meet this demand-supply mismatch, farmers and many agricultural companies are turning to invest more into such technologies, which in turn is driving the agricultural drones market share considerably. The government entities of many countries are likely to encourage and take initiatives regarding the use of such technologies in precision farming.

PrecisionHawk, AeroVironment, DJI, GoPro, DroneDeploy, and Trimble Navigation are some of the key players in agricultural drones industry.

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