London, Nov. 12, 2019 (GLOBE NEWSWIRE) -- According to a new market research report titled, “Agriculture Drone Market by Product (Hardware (Rotary Blade, Fixed Wing, Hybrid), Software), Application (Precision Agriculture, Livestock Monitoring, Smart Greenhouse, Irrigation, Precision Fish Farming), and Geography –Global Forecast to 2025”, the global agriculture drone market is expected to grow at a CAGR of 31.1% from 2019 to reach $5.19 billion by 2025.
Practical applications for UAVs (unmanned aerial vehicles) or drones have progressed significantly in the recent years as the technology has improved in tandem with a fall in its cost. Interest from both consumers and business in drones is growing, with new applications being developed rapidly for use across many industries including agriculture – one of the primary sectors expected to see sharp uptake of drone technology in the near future. The growth in agriculture drone market is mainly attributed to the growing global population and rising pressure on the global food supply, rising venture funding for the development of agriculture drones, growing e-agriculture or information and communication technologies (ICTs) in agriculture, rising automation in agriculture, growing emphasis on enhancing agriculture efficiency, and rising need for water conservation across the globe.
The global agriculture drone market is mainly segmented by product (hardware (rotary blade, fixed-wing, and hybrid) and software), application (precision agriculture, livestock monitoring, smart greenhouse, irrigation, precision fish farming, and other application), and geography.
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On the basis of product type, hardware segment is estimated to command the largest share of the overall agriculture drone market in 2019. Growing need for replacement, upgradation, and modification in the drone hardware components to increase the lifespan and performance of drones as well as to gain competitive advantage is driving the growth of this market. However, software segment is expected to grow with the fastest CAGR during the forecast period, owing to growing software technology and increasing software demand for better data analysis in the precision agriculture.
In hardware segment, rotary blade drone is estimated to command the largest share of the overall agriculture drone hardware market in 2019. The large share of this market is mainly due to its greater maneuverability and compact design, easy to use nature, higher payload capacity, and comparatively lower price than the other types of drones. However, the hybrid drones market is projected to grow at the highest CAGR during the forecast period, owing to its ability to carry heavy weights and hover over fields. Moreover, this hybrid drone offers combined advantages of both rotary blade drones and fixed-wing drones. Like fixed-wing drones, they can fly at high speed and in the same manner as like rotary blade drones, they are also capable to stay at one place for a long time.
Based on application, irrigation application segment is projected to grow at the highest CAGR during the forecast period. The fast growth of this segment is mainly attributed to growing global demand of drones in water management and drought management. Drones with thermal cameras can detect leaks from the water distribution systems of a cultivated field, which helps to take corrective actions in order to avoid the water loss.
Geographically, the North America is estimated to command the largest share of the overall agriculture drone market in 2019. However, Asia-Pacific agriculture drone market is developing and expanding at a rapid pace. The rapid growth of this market is mainly attributed to the growth in the population and thereby surging food demand, accelerated economic growth of many countries in the region, rising technological advancements in the agriculture sector, and rising government funding for precision farming applications.
The report also includes extensive assessment of the key strategic developments adopted by the leading market participants in the industry over the past 5 years (2015-2019). The agriculture drone market has witnessed a number of product launches in the recent years. For instance, in April 2019, PrecisionHawk Inc. launched PrecisionAnalytics software for drone data analysis. Similarly, in November 2018, Parrot S.A. launched Parrot Bluegrass Fields drone for efficient crop assessment.
The global agriculture drone market is fragmented with the presence of many regional and local players. The key players operating in the global agriculture drone market are SZ DJI Technology Co., Ltd., (China), AeroVironment, Inc. (U.S.), Israel Aerospace Industries Ltd. (Israel), PrecisionHawk Inc. (U.S.), Trimble Inc. (U.S.), Parrot S.A. (France), Microdrones GmbH (Germany), AgEagle Aerial Systems Inc. (U.S.), American Robotics, Inc. (U.S.), Yamaha Motor Co., Ltd. (Japan), and Sentera, Inc. (U.S.), among others.
Browse key industry insights spread across 139 pages with 108 market data tables & 22 figures & charts from the report: https://www.meticulousresearch.com/product/agriculture-drone-market-4986/
Scope of the Report:
Agriculture Drone Market by Product
- Hardware
- Rotary Blade
- Fixed Wing
- Hybrid
- Software
Agriculture Drone Market by Application
- Precision Agriculture
- Livestock Monitoring
- Smart Greenhouse
- Irrigation
- Precision Fish Farming
- Other
Agriculture Drone Market by Geography
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- China
- Japan
- India
- Australia
- Rest of APAC (RoAPAC)
- South America
- Middle East & Africa
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