New York, USA, Sept. 13, 2022 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global agriculture drones market is estimated to gather a revenue of $6,244.5 million and grow at 19.2% CAGR in the 2021-2028 analysis timeframe. The extensive report provides a concise layout of the market’s current framework including prime aspects of the market such as growth elements, challenges, restraints and various opportunities during the predicted timeframe of 2021-2028. The report also provides all the market figures to help new participants analyze the market easily.
Dynamics of the Agriculture Drones Market
Drivers: The growing adoption of precision farm techniques to make better agronomic decisions and increasing pressure on global food supply are the two major driving factors for the global agriculture drones market growth during the forecast period. In addition, rising venture funding in the development of drones is also expected to boost the market development by 2028.
Get access to the Exclusive PDF Sample of the Agriculture Drones Market
Opportunities: The growing adoption of information and communication technology (ICT) to solve agricultural issues as well as the major shift of traditional agricultural activities to advanced technologies and sustainable farming practices for better efficiency and productivity are some factors to create ample growth opportunities for the global agriculture drones market during the analysis years.
Restraints: Lack of standardization of various communication interfaces and protocols is the prime hampering factor for the market growth.
Covid-19 Impact on the Agriculture Drones Market
The global agriculture drones market has been adversely affected by the covid-19 catastrophe mainly due to a prolong dip in the food crop prices and reduced demand for agriculture equipment and tools by farmers. However, the slowdown of pandemic has helped economies return to normalcy which has also surged the requirement for digitization and automation in the agriculture industry. Innovative farming techniques like drones yield monitoring, crop health monitoring, irrigation scheduling, etc. brought by some key market players and argitech companies is projected to help the market revive its growth rate post the pandemic times.
Segments of the Agriculture Drones Market
The report has divided the global agriculture drones market into different segments based on type, application, technology, and regional analysis.
Type: Rotary Wing Sub-segment to be the Most Dominant
The rotary wing sub-segment is expected to hold a dominant market share and grow at 19.5% CAGR during the 2021-2028 forecast period. This significant growth is mainly because of the benefits these wings provide like affordability, maneuverability, optimum combination of control, lift, etc. Moreover, the ease of regulating the direction as well as the elevation of rotary drones also make rotary wings the most popular among other types. These factors are predicted to augment the sub-segment’s growth by 2028.
Application: Crop Spray Sub-segment to be Highly Advantageous
The crop spray sub-segment of the global agriculture drones market is estimated to have a noteworthy growth rate and garner a revenue of $748.1 million by 2028 due to their increased usage in irrigation, fertilizers, pesticides, and other applications for efficiency even in tiny fields, rice paddies, and water-logged agricultural systems. Furthermore, several advancements in crop spraying drones like GPS equipment, lasers, ultrasonic echoes to maintain their height well above crops is also predicted to propel the sub-segment’s growth.
Technology: Autonomous Sub-segment to Have Fastest Growth Rate
The autonomous sub-segment is predicted to have the fastest growth rate and register a revenue of $2,244.0 million during the forecast timeframe mainly since multiple drone applications like data-collection missions and drone mapping in the agriculture sector are handled autonomously. Additionally, the rising implementation of autonomous drone technologies like seeders and pollinating drones in the agriculture industry for evaluating crop health is yet another driving factor for the sub-segment’s growth.
Region: Agriculture Drones Market in the Asia-Pacific Region to Witness Ample Growth Opportunities
The agriculture drones market in the Asia-Pacific region is anticipated to have the highest growth rate and gather a revenue of $2,172.4 million during the forecast years due to growing adoption of advanced technologies in the argitech sector and rising cooperation between private and public sectors to augment food. In addition, countries like Taiwan, India, China, Malaysia, and Philippines have aviation regulations and draught guidelines in place which further bolsters the market development in the Asia-Pacific region by 2028.
Key Agriculture Drones Market Players
Some key agriculture drones market players include
- AgEagle Aerial Systems Inc.
- DJI
- AeroVironment, Inc.
- Delair
- Microdrones
- Parrot SA
- Precisionhawk
- SenseFly
- Sentera LLC
- Yamaha Motor Corporation, and many more.
These players are working on developing strategies such as product development, merger and acquisition, partnerships and collaborations to sustain the market enhancement. – Purchase the full report here starting at $2999(Read-Only)
For instance, in March 2021, Farmonaut, an Indian start-up that provides satellite-based crop health monitoring, announced its partnership with GarudaUAV, a renowned Indian drone services organization, to promote the drone-based remote sensing technologies for farming and educate the farmers in India.
The report also summarizes many crucial aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
More about Agriculture Drones Market:
- Global Agriculture Drones Market to Surpass $6,244.5 Million by 2028, Owing to the Increasing Adoption of Precision Farming across the World
- Agriculture Drones: A Skilled Tool for Conserving and Improving Agricultural Needs for Future
- The Global Agriculture Drones Market Anticipated To Generate A Revenue Of $6,244.5 Million, Growing At A CAGR Of 19.2% From 2021 To 2028 - Research Dive
