Redding, California, April 20, 2023 (GLOBE NEWSWIRE) -- Meticulous Research®—a leading global market research company, published a research report titled, “Agriculture Drones Market by Offering (Hardware, Software), Payload (Less than 10 kg, 10 kg to 30 kg, More than 30 kg), Application (Precision Agriculture, Livestock Monitoring, Precision Fish Farming), and Geography - Global Forecast to 2030.” According to the report, the global agriculture drones market is projected to reach $14.06 billion by 2030, at a CAGR of 11.9% from 2023 to 2030. The growth of this market is attributed to the rising adoption of drones for smart farming in Asia-Pacific and Latin America, growth in venture funding for the development of agriculture drones, and integration of information and communication technologies (ICTs) in agriculture. However, the technical limitation of drones is restraining the market growth.
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The rising pressure on global food supply due to the growing global population and favorable government initiatives to promote automation in the agriculture sector are expected to create significant opportunities for this market. However, the high initial and maintenance cost of drones and a lack of technical knowledge among farmers are challenging the growth of this market.
The global agriculture drone market is segmented based on offering, payload, application, and geography. The study also evaluates industry competitors and analyses the regional and country-level markets.
The key players operating in the global agriculture drones market SZ DJI Technology Co., Ltd. (China), Parrot Drones SAS (France), PrecisionHawk, Inc. (U.S.), AeroVironment, Inc. (U.S.), AgEagle Aerial Systems Inc. (U.S.), American Robotics, Inc. (U.S.), Yamaha Motor Co., Ltd. (Japan), Sentera Inc. (U.S.), mdGroup Germany GmbH (Germany), GUANGZHOU XAG CO., LTD. (China), Atmos UAV B.V. (Netherlands), Marut Dronetech Private Limited (India), Israel Aerospace Industries Ltd. (Israel), DroneDeploy, Inc. (U.S.), and Garuda Aerospace Pvt Ltd (India).
Based on offering, the global agriculture drones market is segmented into hardware and software. In 2023, the hardware segment is expected to account for the larger share of the global agriculture drones market. However, the software segment is projected to register the highest CAGR during the forecast period. Developments in advanced drone software technology and the increasing demand for software for better data analysis in agriculture and analyzing data and image processing for surveying purposes in agriculture are the major factors driving the growth of this segment. The software segment is further classified into flight management software, data management software, drone mapping software, image processing software, and data analytics software.
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Based on payload, the global agriculture drones market is segmented into less than 10 kg, 10 kg to 30 kg, and more than 30 kg. In 2023, less than 10 kg is expected to account for the largest share of the global agriculture drones market. Heavy payload leads to a low flight range of drones, which restricts the growth of drones with a heavy payload. Small drones come with less payload capacity. Such small drones are used for field mapping, crop scouting and monitoring crop health. This increasing application of field mapping and crop health monitoring in agriculture to leverage data analytics capabilities for better decisions contributes to the large share of this segment. However, the 10 kg to 30 kg segment is projected to register the highest CAGR during the forecast period. This segment's growth is driven by the growing demand for variable-rate applications in precision agriculture, such as spraying and spreading fertilizer, agrochemicals, and seeds.
Based on application, the global agriculture drones market is segmented into precision agriculture, livestock monitoring, precision fish farming, and other applications. The precision agriculture segment is projected to register the highest CAGR during the forecast period. The growth of this segment is driven by support from governments across the world to raise awareness about precision farming and the increased use of data to increase efficiency in agriculture and growing agricultural revenue. The precision agriculture segment comprises field mapping/surveying, crop health monitoring, crop spraying, and seed planting.
Based on geography, the global agriculture drones market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, North America is expected to account for the largest share of the agriculture drones market. The large share of this market is attributed to the growing demand for high-quality crops, the growing cost of labor, the increasing adoption of automation and advanced technologies in the agriculture sector, and supporting government initiatives for precision farming. However, The Asia-Pacific is slated to register the highest CAGR during the forecast period. The growth in this market is primarily driven by the rapid growth in the population and surging food demand, accelerated economic growth of countries in the region, rising technological advancements in the agriculture sector, and government funding for precision farming.
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Report Scope:
Agriculture Drones Market, by Offering
- Hardware
- Rotary Blade
- Fixed Wing
- Hybrid
- Software
- Flight Management Software
- Data Management Software
- Drone Mapping Software
- Image Processing Software
- Data Analytics Software
Agriculture Drones Market Size & Trend Analysis, by Payload
- Less than 10 kg
- 10 kg to 30 kg
- More than 30 kg
Agriculture Drones Market Size & Trend Analysis, by Application
- Precision Agriculture
- Field Mapping/Surveying
- Crop Health Monitoring
- Crop Spraying
- Seed Planting
- Other Precision Agriculture Applications
- Livestock Monitoring
- Precision Fish Farming
- Other Applications
Agriculture Drones Market Size & Trend Analysis, by Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- Indonesia
- Malaysia
- Rest of Asia-Pacific
- Latin America
- Mexico
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- Rest of Middle East & Africa
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