Agricultural Drones Market in U.S. was over 30% of the global revenue in 2016. Rising trend of implementation of UAVs for enhanced productivity and increasing awareness of precision agriculture for crop scouting and field mapping is expected to drive the industry growth in this region. APAC agricultural drones market will benefit from growing adoption and technological developments. Companies are investing in the region to develop low cost and effective UAVs for numerous applications in the agricultural sector.
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Favorable government initiatives in the agricultural sector is expected to be the key growth factors in the Europe agricultural drones market size. Venture capitalists are investing in unmanned aerial vehicle startups which will yield significant return to the investors. Companies such as Syngenta, Mitsui and Monsanto backed startups for improving crop spraying, harvesting and irrigation. DJI elevated USD 75 million during its first drone launch for the agricultural space.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
3. Trimble Inc.
4. L3 Technologies
5. Intel Corporation
9. Denel Dynamics
11. AGCO Corporation
13. 3D Robotics
15. IAI – Israel Aerospace Industries
Agricultural Drones Market size is set to surpass USD 1 billion by 2024, according to a new research report by Global Market Insights, Inc. Global shipments will exceed 200 thousand units by 2024. Growing awareness regarding UAV implementation benefits among farmers will support the agricultural drones market share from 2017 to 2024. Increasing technological advancements to enhance quality farming techniques will further drive the industry demand over the forecast timeline. Increasing automation due to lack of skilled resources and labor crisis will fuel the industry. Favorable government initiatives across the agricultural sector will allow large and small operations to aid in effective farming practices.
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The agricultural drones market is emerging as a profitable industry under the commercial sector. These products assist farmers in providing soil and crop data by taking pictures for assisting in crop management and adding components such as navigation system, GPS, and GIS benefit UAVs for improved maneuvering.
UVAs incorporated with infrared, hyperspectral, and multispectral cameras provide the required vision to the farmers, thus shielding the crops and farm. These images provide the necessary data and support the decision-making process. Images captured by multispectral cameras serve as an effective tool for plant health and soil evaluation analysis. Identification of weeds, pests, pesticide usage optimization, determining spacing issues, visual inspection of crops and fence are among the major benefits.
UAV LiDAR and photogrammetry imaging applications are potential opportunities for the agricultural drones market size. UAVs mounted with lidar drones in community projects will help in providing aerial view and building topographic maps.
Stringent government regulations and patents involved with advanced technologies will hamper the agricultural drones market size from 2017 to 2024. The products are required to avoid emergency conditions or accidents in the farms. Thus, lack of trained pilots and safety concerns associated with these devices are major challenges for the industry. Universities and technical institutes are establishing various programs to provide guidelines for operating UAVs.
Browse key industry insights spread across 115 pages with 76 market data tables & 60 figures & charts from the report, Agricultural Drones Market in detail along with the table of contents:
The fixed wing agricultural drones market share accounted for about 70% of the revenue in 2016. The segment will dominate the industry over the forecast timeframe owing to the ability to carry heavy payloads and cover long distances. Imaging software plays a key role in processing images captured by cameras mounted on UAVs, which will fuel software revenue in the coming years. The crop scouting applications are forecast to have significant growth prospects owing to utilization in reducing the fertilizer and pesticide wastage, further increasing the crop yields.
Hardware accounted for the majority of agricultural drones market share in 2016, owing to high cost components such as fixed wing, multi-rotor, nano, and hybrid UAVs. Hybrid UAVs will will witness growth in the coming years, since they can perform long distance tasks along with hovering the agricultural fields. The economical visualization and navigation features will benefit the farmers in mapping and inspection. Software has an important role in the agricultural drones market for varied applications. Data analytics benefits agronomists and farmers in deciding fertilizer amount for spraying into fields.
Increasing funding for Unmanned Aerial Vehicle (UAV) manufacturers and growing awareness about benefits amongst farmers will drive the agricultural drones market. Improving automation and precision farming initiatives will support the industry growth. Farmers are implementing this advanced technology to obtain better productivity and efficiently use their land, water, and fertilizers. These products also help farmers in taking pictures of their fields, and providing crop and soil data for assisting crop management. Adding sensors and other equipment such as GPS and Geographic Information System (GIS) has benefited UAVs for better positioning and traveling.
Top top key players in the agricultural drones market include 3D Robotics, AeroVironment, Aeryon Labs Inc, AGCO Corporation, AgEagle Aerial Systems, Agribotix, Boeing, Delair, Denel Dynamics, DJI, Draganfly Innovations, DroneDeploy, FT SISTEMAS S.A., Google, GoPro, HoneyComb Corporation, Intel Corporation, IAI – Israel Aerospace Industries, L3 Technologies, Parrot, PrecisionHawk, RUAG Aviation, Skycatch, Trimble Inc., and Yuneec USA Inc.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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