Product ID: UCMIG20H2027
Report ID: UCMIG20H2027 | Region: Global | Published Date: Upcoming | Pages: 165 | Tables: 55 | Figures: 60
The global agricultural drone market showcased significant growth, reaching a value of USD 1.7 billion in 2022. Forecasts indicate a robust expansion trajectory, with the market poised to reach approximately USD 7.9 billion by 2030, driven by a notable compound annual growth rate (CAGR) of 21.2% during the forecast period spanning from 2022 to 2030. This growth is propelled by the increasing adoption of drone technology in agriculture, offering precision farming solutions that optimize crop management, enhance yield, and reduce resource usage. The integration of drones with advanced imaging technologies, sensors, and data analytics enables farmers to make informed decisions based on real-time field data, improving efficiency and sustainability in agriculture. As the agriculture sector embraces technological innovations to address the challenges of feeding a growing global population and optimizing land use, agricultural drones are set to revolutionize traditional farming practices and contribute to the modernization of the agri-food industry.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Agricultural & Farm Machinery by segment aggregation, the contribution of the Agricultural & Farm Machinery in Capital Goods and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
The Agricultural Drones Market is segmented by Component, Application, Type, Geography. We are analyzing the market of these segments to identify which segment is the largest now and in the future, which segment has the highest growth rate, and the segment which offers the opportunity in the future.
Agricultural Drones Market is being analyzed by North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA) regions. Key countries including the U.S., Canada, Germany, France, UK, Italy, Spain, China, India, Japan, Brazil, GCC Countries, and South Africa among others were analyzed considering various micro and macro trends.
SkyQuest's expert analysts have conducted a risk analysis to understand the impact of external extremities on Agricultural Drones Market. We analyzed how geopolitical influence, natural disasters, climate change, legal scenario, economic impact, trade & economic policies, social & ethnic concerns, and demographic changes might affect Agricultural Drones Market's supply chain, distribution, and total revenue growth.
To understand the competitive landscape, we are analyzing key Agricultural Drones Market vendors in the market. To understand the competitive rivalry, we are comparing the revenue, expenses, resources, product portfolio, region coverage, market share, key initiatives, product launches, and any news related to the Agricultural Drones Market.
To validate our hypothesis and validate our findings on the market ecosystem, we are also conducting a detailed porter's five forces analysis. Competitive Rivalry, Supplier Power, Buyer Power, Threat of Substitution, and Threat of New Entry each force is analyzed by various parameters governing those forces.
The Agricultural Drones Market is being analyzed by SkyQuest's analysts with the help of 20+ scheduled Primary interviews from both the demand and supply sides. We have already invested more than 250 hours on this report and are still refining our date to provide authenticated data to your readers and clients. Exhaustive primary and secondary research is conducted to collect information on the market, peer market, and parent market.
Our cross-industry experts and revenue-impact consultants at SkyQuest enable our clients to convert market intelligence into actionable, quantifiable results through personalized engagement.
|The base year for estimation||2021|
|Historical data||2016 – 2022|
|Forecast period||2022 – 2028|
|Report coverage||Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis|
|Regional scope||North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA)|
|Country scope||U.S., Canada, Germany, France, UK, Italy, Spain, China, India, Japan, Brazil, GCC Countries, South Africa|
|Key companies profiled||
|Customization scope||Free report customization (15% Free customization) with purchase. Addition or alteration to country, regional & segment scope.|
|Pricing and purchase options||Reap the benefits of customized purchase options to fit your specific research requirements.|
Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Agricultural Drones Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Agricultural Drones Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Agricultural Drones Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Agricultural Drones Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
The global market for Agricultural Drones was estimated to be valued at US$ XX Mn in 2021.
The global Agricultural Drones Market is estimated to grow at a CAGR of XX% by 2028.
The global Agricultural Drones Market is segmented on the basis of Component, Application, Type, Geography.
Based on region, the global Agricultural Drones Market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
The key players operating in the global Agricultural Drones Market are sights, The global agricultural drone market size was exhibited at USD 1.7 billion in 2022 and is projected to hit around USD 7.9 billion by 2030, growing at a CAGR of 21.2% during the forecast period 2022 to 2030. An agricultural drone also known as an Unmanned aerial vehicle (UAVs) used in agriculture can aid with crop monitoring, crop production, and other aspects of optimizing agricultural operations. Drones are being used in precision agriculture for a variety of tasks, including the application of pesticides, planting, and the examination of agricultural fields and soil., Growth Factor, Given that it must provide for the world's steadily growing population, agriculture is seen as the most promising sector of the economy. The lack of skilled agricultural laborers or farmers, a lack of fertilizers, extreme weather conditions and their ineffective use, illnesses, infections, allergies, and other health issues brought on by the use of chemicals such as pesticides, insecticides, fungicides, or animal/insect stings have all been issues that the agricultural industry has faced. However, the agriculture sector is focused on developing nowadays by using more sophisticated and technologically advanced machinery. The agricultural drone is an autonomous flying cart with the ability to monitor crop development and increase crop yield. Smart sensors and digital imaging capabilities included in the cutting-edge equipment let farmers monitor their fields from a higher vantage point and avoid complications like fungal and insect infestations, irrigation problems, soil changes, and other challenges. Due to the development of sophisticated software solutions for data analytics and field service, favorable government policies and incentives to promote the agricultural sectors, and rising consumer awareness of the advantages of agricultural drones, the market for agricultural drones is anticipated to grow at a significant CAGR over the forecast period. A rise in venture investment for drone applications in agriculture is expected to result in a large increase in the market share for agricultural drones. During the projected period, the use of precision agricultural technologies will drive market expansion worldwide. The market for agricultural drones is expected to grow as costs are reduced as a result of human mistakes. Drone-related government laws may impede the market's overall expansion. There are several prospects for drone applications due to an increase in agricultural and farming automation. Additionally, exemptions granted by U.S. federal authorities in the agricultural industry offer a profitable potential for the expansion of the market for agriculture drones., Key Market Drivers, The use of small drones in agriculture is growing, Numerous technological advancements have positively impacted farming production during the past several years in the agriculture industry. UAVs are one of these key innovations, and they are presently widely used in agricultural operations with the aid of cutting-edge technology and software. Miniature, autonomous, and unmanned rotorcraft have been successfully developed thanks to technological advancement in components, sensors, and sizes. This is one of the key elements that experts think will fuel market expansion., Key Market Challenges, The creation of drone usage restrictions in response to data privacy issues, Due to farmers' lack of expertise, drone manufacturers find it challenging to contact their potential clients. Additionally, because people lack the skills to use the tools (software programs) that assess and improve efficiency, they find it undesirable to purchase agriculture drones, which hinders the market's growth. Another reason that is impeding market expansion is cyber security worries; if these are resolved, the industry may increase in the near future., Key Market Opportunities, The growing use of sustainable farming methods to promote the use of agriculture drones, Information and communication technologies (ICTs) are being used by agriculture more and more to address environmental problems. In order to feed the world's expanding population, farming communities must be able to adapt and become resilient in the face of significant challenges brought on by climate change. Utilizing the development and transformational power of ICTs offers a great platform for not only solving some of these problems but also accelerating the achievement of the 2030 Sustainable Development Goals (SDGs). When cutting-edge technology is used, traditional agricultural techniques will see changes in production and efficiency. Farmers that adopt sustainable agricultural practices may be able to expedite their production operations utilizing enhanced data analytics. The market for agricultural drones will also benefit from increased investment in auxiliary equipment and agricultural drones., Segments Insight , Component Insights, According to the component, the hardware segment is anticipated to have the greatest market share for farm drones in 2021. The expansion of this market is being driven by an increasing requirement for replacement, upgrade, and modification in drone hardware components to extend drone lifespan and performance as well as to gain a competitive advantage. The firms' increasing focus on modifying and creating drone structures to make them operate in any harsh climatic circumstances is also contributing to the expansion of this market. However, due to developing software technology and the rising software need for improved data analysis in precision agriculture, the software sector is anticipated to grow at the quickest CAGR throughout the projected period., Application Insights, According to projections, the crop spray segment of the worldwide agriculture drone market would develop at the quickest rate in 2021. In drone farming, crop spray drones used for irrigation, fertilizer, and pesticide treatments enable more effective usage in rice paddies, small fields, and other waterlogged systems, as well as steep slopes or difficult-to-access locations. Precision agriculture may incorporate such systems since drones can be fitted with ultrasonic echoes, GPS, and lasers to maintain their height over the crop. These improvements to crop spraying drones will propel the growth of the sub-segment in the coming years. Crop monitoring drones provide higher resolution data of agricultural conditions than traditional satellite methods fast detection of stressed areas, disease infestations, and real plant counts. In fields up to 50 ha, drones are said to be able to administer fertilizers and pesticides up to 5 times quicker than conventional equipment, and by concentrating only on areas that require treatment, as determined by crop monitoring, up to 60% of materials may be saved. The autonomous drones segment of the worldwide agriculture drone market would develop at the quickest rate and approach $ 2,243.9 million by 2028, up from $512.9 million in 2020. Drones with superior ground control systems that use automatic supervisory procedures to reduce the number of operators needed to manage the fleet are referred to as autonomous agriculture drones. Many agricultural applications, including data-collection missions and drone mapping, are now carried out automatically. The sub-segment is also expected to have impressive growth in the next years because of advancements in autonomous technology like automated seeders and autonomous pollination drones that can operate and assess crop health without the need for humans. The airborne portion of the drone and the pilot operating it from a ground control station, as well as the sensors mounted on the UAV, and the software that can be used to analyze the data gathered by the sensor, are all included in manually operated drones. Farmers are demanding more manually piloted drones with several sensors to provide a more precise and varied crop management system. The sub-development segments are anticipated to be aided by the relaxation of governmental limitations on the use of drones and assistance for drone startups throughout the world., Type Insights, Furthermore, it is predicted that throughout the course of the forecast period, the rotary wing sub-segment would have the fastest growth. Rotary drones are the most common variety since they are the easiest to control for direction and elevation. These drones provide the best balance of control, lift, maneuverability, and price. A common example of a multi-propeller drone is the DJI Matrice 200 series, which is sold by DJI Technology Co., Ltd. The DJI Matrice 210 RTK offers a payload of up to 2KG as well as a range of up to 7KM, which is more than enough for the majority of surveying applications in the agriculture sector. With revenues of $387.5 million in 2020 and $1,613 million throughout the forecast period, the fixed-wing drone sub-segment is expected to have a sizeable market share in the worldwide market, increasing at a CAGR of 19.0%. The benefit of fixed-wing aircraft is their capacity to cover large distances on a single battery. Due to their more efficient engines, most commercial versions can fly for an hour or more and cover an area of about 400 hectares, making them perfect for inspecting oil pipelines or electrical pylons., Regional Insights, Over the course of the projection period, the market for drones used in agriculture in Asia-Pacific is anticipated to rise significantly. To accelerate the deployment of agriculture drones, countries in the area are consistently boosting their R&D expenditures. Additionally, the expansion of venture finance provided to UAV makers in the area has aided in the growth of the sector. Many businesses in the area are creating affordable, effective UAVs for a wider range of agricultural uses. The global market for agricultural drones is dominated by the North American continent. The growing trend of using UAVs for anything from mowing to plowing to increase production is anticipated to have an impact on the industry's expansion. Farmers have begun using UAVs in their operations as a result of rising interest in precision agriculture for crop scouting and field mapping., Recent Developments, On November 16, 2021, DJI, a top producer of agricultural drones, announced the release of two new products, the T40 and T20P, which are designed specifically for agricultural tasks like applying pesticides and fertilizer to fruit plants. On January 27, 2021, AgEagle Aerial Systems Inc., a US-based manufacturer of drones, announced the purchase of MicaSense, Inc. from Parrot, a European consortium of drone manufacturers, for more than USD 23 million. Numerous top fixed-wing and multicopter drone manufacturers, including DraganFly, senseFly, Quantum-Systems, and Wingtra, have relationships with the acquired firm. Additionally, MicaSense has obtained a patent for its very accurate thermal and multispectral sensors used in aerial mapping and analytics that meet the requirements of the agricultural sector., KEY MARKET SEGMENTS, By Component, Hardware, Frames, Control System, Propulsion System, Navigation System, Payload, Avionics, Others, Software, Imaging Software, Data Management Software, Data Analytics Software, Others, By Application, Crop Monitoring, Soil & Field Analysis, Planting & Seeding, Crop Spray, Others, By Type, Fixed-Wing, Rotary-Wing, Others, By Geography, North America, Europe, Asia-Pacific, Latin America, Middle East & Africa (MEA), KEY MARKET PLAYERS, DJI (China), 3DR (US), Ondas Networks (AMERICAN ROBOTICS) (US), ideaForge (India), DroneDeploy (US), MICRODRONES (Germany), PrecisionHawk, Inc. (US), Yamaha Motor Corporation, U.S.A. (US), AeroVironment, Inc. (US), AgEagle Aerial Systems Inc. (US), ISRAEL AEROSPACE INDUSTRIES (Israel), Delair (France), senseFly (Switzerland), Sentera (US), Trimble Inc. (US), THANOS (India).
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