The agriculture drone market size is expected to reach US$ 6,377.61 million by 2028; registering at a CAGR of 31.5% during 2022–2028, according to a new research study conducted by The Insight Partners.
Growing Demand from Precision Agriculture Catalyzes Agriculture Drone Market Growth
Agriculture Drone Market Size and Forecast (2021–2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component (Hardware and Software), Type (Fixed Wing and Rotary Wing), Farming Location (Indoor and Outdoor), Type of Produce (Field Crops, Fruit & Vegetable, Dairy & Livestock, and Others), Farm Size (Small & Medium Crops, and Large Crops), Application (Precision Farming, Livestock Monitoring, Smart Greenhouse, and Others) and Geography
Agriculture Drone Market SWOT Analysis by 2031
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Source: The Insight Partners Analysis
The demand for agriculture drones is mainly driven by the flourishment of precision farming, which encourages the adoption of automated technologies in the agriculture sector. The increasing awareness about the need to boost the production, efficiency, and quality of crops is another major factor supporting the adoption of agriculture drones worldwide and catalyzing the agriculture drone market growth across the world.
Farmers and agritech companies faced unprecedented challenges upon the onset of the COVID-19 pandemic. These challenges included the shortage of laborers, disruptions in supply chain due to social restrictions, temporary shutdown of crop processing facilities, scarcity of raw materials, and fluctuations in different agricultural commodity prices. The farmers and agriculture companies began taking necessary precautions to address uncertainties revolving around these challenges through the adoption of agriculture drones and other automated technologies. Agriculture drones can be deployed in operations such as spraying, monitoring, land mapping, harvesting, crop height monitoring, data collection, and imaging, which enables farmers to boost their operational efficiencies, and enhance production output and profitability. Moreover, the agriculture drone market players are also majorly focusing on introducing new and robust products that can handle multiple agriculture operations for the end users. For instance, in September 2022, XAG announced the launch of its new P100 agricultural drone product which is a fully autonomous drone that can perform multiple operations such as spraying pesticides, spreading fertilizers, and broadcasting seeds.
A rise in the preference for digital agriculture tools is further triggering the adoption of drone technologies in the agriculture sector. Drones and other digital tools assist in enhanced data collection for the better analysis of crops and different stages of farming. Drones equipped with different sensors and equipment are employed for data collection and other farming operations.
The growing popularity of robotics in the agriculture sector is a major trend in the agriculture drone market. Robotics allows farmers to automate repetitive tasks such as harvesting, picking, weed control, thinning, seeding, and spraying, along with sorting and packing operations. As the demand for food is higher than the quantity made available by utilizing farming land, farmers and agricultural companies seek to harness drone technologies to meet the rapidly growing market demands.
Some of the other trends catalyzing the agriculture drone market are mentioned below:
- Increase in use of aerial data collection tools for field mapping, imaging, and data analytics for preventive forecasting in agriculture fields
- Rising focus on water management
- Precise application of nitrogen fertilizers
- Digitalization of agriculture yield predictions
- Increasing demand for indoor farming
AeroVironment, Inc.; AgEagle Aerial Systems Inc; DJI; DroneDeploy; PRECISIONHAWK INC; Third Element Aviation GmbH, Sentera, Yamaha Motor Corporation, U.S.A.; Trimble Inc.; and Parrot Drone SAS are the key agriculture drone market players profiled in the study. Several other major companies were also studied and analyzed to get a holistic view of the market and its ecosystem.
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