Agriculture Drone Market is Projected to Touch USD 6284 million in 2027

Agriculture Drone Market is Projected to Touch USD 6284 million in 2027

“Agriculture Drones market generated revenues of USD 860 million in 2019 and is projected to reach USD 6,284 million by the end of 2027.”
New analysis from GMI Research, expects the revenue for the Agriculture Drone market is expected to grow at a robust CAGR of 24.7% from 2020-2027. Agriculture Drones market generated revenues of USD 860 million in 2019 and it is projected to reach USD 6284 million by the end of 2027.

The key factors driving the Agriculture Drones Market growth include growing burden on global food supply due to rising world population, rising venture capital financing for development of agriculture drones and easy accessibility of the data analytics as well as software solutions for conducting field surveys activities. Furthermore, rising awareness of the precision agriculture techniques along with integration of drone-based aerial intelligence into farming practices that reduce inputs and intensify crop yield will propel the growth of the global agriculture drones market during the forecast period. Increasing usage of big data analytics and software solutions for agricultural field surveys and monitoring pests, as well as disease infestation and rising adoption of the aerial data collection tools in agriculture to predict soil conditions, will boost the demand for global agriculture drones during the forecast period. However, increasing concerns about data security-related with civil and commercial applications of drones and air-traffic management of the commercial drones which are a key restraint for the growth of the global agriculture drones market.

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Based on the offering, the global agriculture drones market segmented into hardware and software and services. The software and services are captured the highest market share due to increasing investments being done by the venture capitalists in the start-up companies specializing in the development of analytics software which is capable of digitizing the information collected by drones. These investments are focussed on data analytics and imaging software.

Based on the component, the global agriculture drones market segmented into frames, controller systems, propulsion systems, camera systems, and navigation systems. The camera systems segment dominated the market in 2019 owing to the increasing transformation of aerial imagery data into valuable insights by the integration of the cameras and sensors, especially in the precision agriculture application.

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Based on the mode of operation, the global agriculture drones market segmented into remotely operated agriculture drones, semi-autonomous agriculture drones, and fully-autonomous agriculture drones. The semi-autonomous agriculture drones held the maximum share in 2019 because of the increasing usage of semi-automated drones for managing agricultural pesticide spraying systems to control pest & disease infestation in precision agriculture.    

Based on the range, the global agriculture drones market segmented into Visual Line of Sight (VLOS), Extended Visual Line of Sight (EVLOS) and Beyond Line of Sight (BLOS). The Visual Line of Sight (VLOS) segment dominated the market because of the increasing use of these UAVs in precision agriculture and livestock monitoring applications.

Based on the application, the global agriculture drones market segmented into precision agriculture, livestock monitoring, precision fish farming, precision forestry, smart greenhouse, and others. The precision agriculture segment captured the maximum share in 2019 due to the increasing adoption of the agricultural drones for capturing highly accurate aerial images up to hundreds of hectares/acres in a single flight. The cost-effectiveness associated with the technologically advanced Agricultural drones provide farmers with new ways of increasing crop yield and reducing crop damage.

Based on the region, North America has held the largest market share in 2019 due to favorable government initiatives such as the exemption from the Federal Aviation Administration (FAA) under the part 107 rule which has increased the adoption rate of agricultural drones. In addition, this is attracting more investments by venture capitalists in the agriculture drones market.

Various notable players operating in the market include SZ DJI Technology Co., Ltd., PrecisionHawk, Delair, Parrot Drones SAS, AeroVironment, Inc., AgEagle Aerial Systems Inc., Sentera, Inc., Yamaha Motor Co., Ltd., Wingtra AG, Pix4D SA among others.

The global agriculture drones market has been segmented based on offering, component, mode of operation, range, application, and key regions. Based on offering, the market is segmented hardware and software and services. The hardware segment is further divided into fixed-wing drones, rotary blade drones, and hybrid drones. The software and services segment is further divided into data management software, imaging software, data analytics software, and others. Based on components, the market is segmented frames, controller systems, propulsion systems, camera systems, navigation systems, batteries, and others. The camera systems segment is further divided into multispectral cameras, IR cameras, thermal cameras, lidar cameras and others. The navigation systems segment is further divided into global positioning system (GPS) and geographic information system (GIS). Based on mode of operation, the market is segmented remotely operated agriculture drones, semi-autonomous agriculture drones and fully-autonomous agriculture drones. Based on range, the market is segmented Visual Line of Sight (VLOS), Extended Visual Line of Sight (EVLOS) and Beyond Line of Sight (BLOS). Based on the application, the market is segmented precision agriculture, livestock monitoring, precision fish farming, precision forestry, smart greenhouse, and others. The precision agriculture segment is further divided into field mapping, variable rate application, crop scouting, crop spraying, and others. The field mapping segment is further divided into weed detection, plant counting, crop health monitoring, harvest season monitoring, and others. The livestock monitoring segment is further divided into livestock behavior and health monitoring. The precision fish farming is further divided into fish tracking & fleet navigation and water quality management. The precision forestry segment is further divided into genetics and nurseries, silviculture and fire management, harvesting management, and inventory and logistics management.

 

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