New York, US, April 07, 2023 (GLOBE NEWSWIRE) -- Agricultural Drones Market Overview
Market Research Future (MRFR) 's report highlights, Agricultural Drones Market Research Report: Information by System, Component, Application, and Region Forecast till 2030, the agricultural drone market share is anticipated to grow from USD 24.9 billion by 2030, with a compound annual growth rate of 29.30% by 2022-2030
Market Scope
Unidentified airborne objects are referred to as agricultural drones and are employed to survey fields. It supports farmers in data collection, storage, and analysis to track irrigation management. These drones aid in the precise management of the fertilizers and chemicals that are used in the planting of crops. The farmers may continue appropriately with an accurate view of their field thanks to these drones.
Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD 24.9 billion |
| CAGR | 29.30% (2022 - 2030) |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2018 & 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, By Component, By Application, By Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | High crop losses prompting the use of drones for aerial spraying to propel market growth |
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Competitive Dynamics:
With the use of various types of strategies, including product launches and upgrades, mergers and acquisitions, alliances, and other tactics, all market participants are engaged in global competition with one another in the international marketplaces. Among the leading participants in this market are:-
- Aero Vironment Inc. (US)
- Dji (China)
- Parrot Drones (France)
- Trimble Inc. (US)
- Yamaha Motor Company (Japan)
- 3d Robotics (California)
- Aeryon Labs (Canada)
- Ageagle Aerial Systems, Inc. (US)
- Avular Bv (Netherlands)
- Blue Sky Agro (India)
- Draganfly Innovations (Canada)
- Dronedeploy (US)
- Effidence (France)
- Precisionhawk (US)
- Resson Aerospace Corporation (Canada)
- Sentera, Inc. (US)
Market USP:
Market Drivers
The labor force cannot accurately carry out several tasks like crop spraying and field mapping. Also, it decreased the costs associated with human mistake and enabled farmers to respond quickly to challenges like drought conditions. These are important elements that have contributed to the expansion of this sector. The farmers may increase their income and receive significant returns on their investments with the aid of these drones, which is another factor that will support the growth of this business. The advantages of using such drones include their low operating costs, speedy information delivery, and capacity to explore locations that are inaccessible to vehicles and boats. Due to the expansion of the agricultural drone market, the 2.4 trillion dollars in annual income generated by the agriculture sector would increase by 18% by 2028.
Several businesses are concentrating on controlling air traffic, which is undoubtedly to blame for the majority of drone collisions and mishaps. The major competitors in this market are also concentrating on building drones with a long range that can cover a wider area and conduct analyses. Also, the new and future drones will have functions for testing the soil and will be able to take pictures of agricultural fields and automatically save them to the user's smartphone's cloud storage. Also, these drones can find meteorological conditions and water distribution system leaks. During the course of the forecast period, these qualities are anticipated to drive the market.
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Moreover, throughout the projected period, a sharp increase in the usage of precision farming technologies would fuel market expansion. Additionally, the market study for agriculture drones is anticipated to be driven by a surge in demand for a reduction in the costs associated with human error.
Because of the increased need for food production and consumption, the global supply chain is at all-time high and commodity prices are at an all-time low, driving the need for a contemporary agricultural solution across the agriculture industry internationally. Drones have also altered the agriculture industry internationally by providing greater profitability, cost savings, and efficiency. Additionally, the global market for agriculture drones is still in its infancy; however, advancements in drone technology are anticipated to spur market expansion in the upcoming years.
Market Limitations
Air traffic management is directly related to both safe and affordable air travel. The operational stage of several agricultural drone development programs is approaching fast. To prevent collisions and mishaps with the growing number of agricultural drones on the market, an effective air traffic management system is needed. This is one of the main things that could prevent this sector from expanding. Agriculture drones are just one sort of agricultural instrument that communicates with one another using a variety of interfaces, protocols, and technologies. The data gathered may occasionally be misinterpreted as a result of the lack of certain communication interfaces and protocols, which is another issue that can act as a roadblock to the development of this business. Last but not least, extreme weather conditions like high wind speeds and gusts restrict the use of these drones. Another factor that can prevent the market for agricultural drones from expanding is this one.
COVID-19 Analysis:
The majority of the market's manufacturing, developing, production, and logistical units have had a very difficult time as a result of the coronavirus pandemic. Governments in several nations placed limitations as a result of this pandemic situation. The response of the governments of various nations to this pandemic crisis has disrupted the production and worldwide supply chains of every single material utilized in the production of these kinds of drones.
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Additionally, it is projected that there would be a market shortage of both these drones and the materials used in their construction if this pandemic condition lasts for an extended period of time. Yet, the fact that there are currently drones on the market and that there is a growing demand for them helps to offset the losses that the major participants in this sector have experienced. It is projected that this industry would experience huge growth in a relatively short period of time once these prohibitions are abolished.
Market Segmentation:
By System
the propulsion segment will be the fastest growing and also contribute towards this market growth more than any other segment.
By Application
The field mapping segment is likely to gain momentum over the review period.
By Component
The hardware segment is expected to witness substantial growth over the forecast period.
Regional Analysis:
The market will be dominated by the North American region among them, and this is because of the expanding need for the growing of high-value crops including garlic, herbs, and wine grapes. The expansion of this industry in this area is also attributed to the growing use of smart agriculture techniques.
The second-largest market will be in the Asia Pacific region because of its expanding population and accessibility to farmland that can be plowed.
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