Agriculture Drones Market to Reach $14.06 Billion by 2030

Meticulous Research®-a leading global market research company, published a research report titled, 'Agriculture Drones Market by Offering (Hardware, Software), Payload (Less than 10 kg, 10 kg to 30 kg, More than 30 kg), Application (Precision Agriculture, Livestock Monitoring, Precision Fish Farming), and Geography - Global Forecast to 2030.'

The global agriculture drones market is projected to reach $14.06 billion by 2030, at a CAGR of 11.9% from 2023 to 2030. The growth of this market is driven by the rising adoption of drones for smart farming in Asia-Pacific and Latin America, growth in venture funding for the development of agriculture drones, and integration of information and communication technologies (ICTs) in agriculture. However, the technical limitation of drones is restraining the market growth.

The rising pressure on global food supply due to the growing global population and favorable government initiatives to promote automation in agriculture are expected to create significant opportunities for this market. However, the high initial and maintenance cost of drones and a lack of technical knowledge among farmers are challenging the growth of this market.

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The global agriculture drone market is segmented based on offering, payload, application, and geography. The study also evaluates industry competitors and analyses the regional and country-level markets.

key players:
The key players profiled in the global agriculture drones market study include SZ DJI Technology Co., Ltd. (China), Parrot Drones SAS (France), PrecisionHawk, Inc. (U.S.), AeroVironment, Inc. (U.S.), AgEagle Aerial Systems Inc. (U.S.), American Robotics, Inc. (U.S.), Yamaha Motor Co., Ltd. (Japan), Sentera Inc. (U.S.), mdGroup Germany GmbH (Germany), GUANGZHOU XAG CO., LTD. (China), Atmos UAV B.V. (Netherlands), Marut Dronetech Private Limited (India), Israel Aerospace Industries Ltd. (Israel), DroneDeploy, Inc. (U.S.), and Garuda Aerospace Pvt Ltd (India).

Based on offering, the global agriculture drones market is segmented into hardware and software. In 2023, the hardware segment is expected to account for the larger share of the global agriculture drones market. The large market share of this segment is attributed to the need to monitor crop and soil health, growing farmers' approach to precision farming, and the use of drones for agricultural insurance assessment. The hardware segment is further classified into rotary blade, fixed wing, and hybrid.

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Based on payload, the global agriculture drones market is segmented into less than 10 kg, 10 kg to 30 kg, and more than 30 kg. In 2023, less than 10 kg is expected to account for the largest share of the global agriculture drones market. Heavy payload leads to a low flight range of drones, which restricts the growth of drones with a heavy payload. Small drones come with less payload capacity. Such small drones are used for field mapping, crop scouting and monitoring crop health. This increasing application of field mapping and crop health monitoring in agriculture to leverage data analytics capabilities for better decisions contributes to the large share of this segment.

Based on application, the global agriculture drones market is segmented into precision agriculture, livestock monitoring, precision fish farming, and other applications. In 2023, the precision agriculture segment is expected to account for the largest share of the agriculture drones market. The large market share of this segment is attributed to government initiatives regarding creating awareness about precision farming and the growing use of data for better productivity and enhancing agriculture revenues. The precision agriculture segment is further segmented into field mapping/surveying, crop health monitoring, crop spraying, and seed planting.

Based on geography, the global agriculture drones market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, North America is expected to account for the largest share of the agriculture drones market. The large share of this market is attributed to the growing demand for high-quality crops, the growing cost of labor, the increasing adoption of automation and advanced technologies in the agriculture sector, and supporting government initiatives for precision farming.

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Key Questions Answered in the Report:
• Which are the high-growth market segments in offering, payload, application, and geography?
• What is the historical market size for agriculture drones across the globe?
• What are the market forecasts and estimates for the period 2023-2030?
• What are the major drivers, opportunities, and challenges in the global agriculture drones market?
• Who are the major players in the market, and what are their market shares?
• How is the competitive landscape for the global agriculture drones market?
• What are the recent developments in the global agriculture drones market?
• What are the different strategies adopted by the major players in the market?
• What are the key geographic trends, and which are the high-growth countries?
• Who are the local emerging players in the global agriculture drones market, and how do they compete with other players?

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