Press release
Agricultural Drones Market Is Anticipated To Post A Robust Cagr Of 30.2% During The Forecast Period
Agriculture drone market
Agricultural drones are type of multi rotor drones with additional technologies such as sensors, GPS and digital image recorder. Agricultural drones help farmers to monitor the crop growth and improve over all field production. Further, agricultural drones are provided with controlling devices and can perform various farming operations such seed spraying, crop health monitoring, crop scouting and other farming operation. The expansion of the fixed wing drones segment is backed by its compact and lightweight design and its ability to carry higher payload and cover long distance. However, hybrid drones are also estimated to experience significant growth over the forecast period owing to their ability to cover longer distance and longer battery life.
Global agricultural drones market is expected to register a 30.2% CAGR over the forecast period. Moreover, the global agricultural drones market was valued at USD 300.5 Million in 2016 and is expected to reach at notable revenue of USD 3,700 Million by the end of 2024. The growth of agricultural drones market can be attributed to a number of factors such as growing adoption of automation technologies, precision farming initiatives and growing awareness amongst the farmers regarding incredible benefits of using agricultural drones in farming.
In terms of region, global agricultural drones market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, North America is the largest market of agricultural drones and is expected to experience remarkable growth during the forecast period. Moreover, high adoption rate of advanced agricultural technologies in this region especially in U.S. is a key factor which is likely to fuel the growth of agricultural drones market in this region. Additionally, increasing awareness towards benefits of precise farming coupled with rising uses of agricultural drones in farming application such as crop scouting, seed spraying and field mapping are also expected to foster the expansion of agricultural drones market in North America region.
Rising population
The global population has been expanding at a massive rate, which in turn, creating demand for more food. Further, rising need to increase food production by adopting precise farming and other advanced technologies such as drones and robots are believed to fuel the growth of agricultural drones market across the globe.
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Growing awareness regarding precision farming
Global market of agricultural drones is primarily driven by rising awareness towards precise farming for its additional benefits. Further, agricultural drones are perfect solution for crop monitoring in very large arable lands. Moreover, other applications of agricultural drones such as crop scouting, field mapping and seed, fertilizer & pesticides spraying are some of the major factors which are making these agricultural drones more acceptable in agricultural sector. Further, these additional benefits of agricultural drones are likely to drive the growth of global agricultural drones market in near future.
However, restriction of use of agricultural drones in countries such as India and Nepal is a major factor hampering the growth of global agricultural drones market. In addition to this, lack of awareness and unavailability of trained drone’s pilots is also expected to restrain the growth of global agricultural drones market.
The report titled “Agricultural Drones Market : Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation” delivers detailed overview of the global agricultural drones market in terms of market segmentation by product type, by component, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global agricultural drones market which includes company profiling of AeroVironment Inc., Dà-Jiāng Innovations Science and Technology Co. Ltd, Israel Aerospace Industries Ltd., PrecisionHawk Inc., Parrot SA, Trimble Navigation Ltd., MicroDrones GmbH, 3D Robotics Inc., Aibotix GmbH. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global agricultural drones market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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