Dublin, Aug. 17, 2023 (GLOBE NEWSWIRE) -- The "Global Agriculture Drones Market by Offering (Hardware, Software and Services), Components, Payload Capacity, Medium-weight drones, Heavy-weight drones, Farming Environment, Application, Farm Produce, Range, Farm Size and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global agriculture drones market is projected to grow from USD 4.5 Billion in 2023 to USD 17.9 Billion by 2028, at a CAGR of 31.5% during the forecast period.
The market is witnessing significant growth due to the increased awareness of digital agriculture, leading to a growing demand for agriculture drones equipped with advanced imaging sensors. These drones enable farmers to monitor plant health, detect diseases or pests, and assess crop yields through high-resolution aerial imaging, allowing them to take timely actions and improve productivity and resource efficiency.
Agriculture drones also offer benefits like reduced manual labor, faster data collection, and increased coverage of large agricultural areas, resulting in cost savings, improved efficiency, and higher crop yields. As more farmers recognize these advantages, the market for agriculture drones is expected to experience significant growth, supporting sustainable farming practices and meeting the global demand for food production.
Hardware Segment Expected to Account for the Largest Share in 2023
In 2023, the hardware segment is expected to account for a larger share of the agriculture drone market. It includes drones, sensors, and equipment essential for capturing aerial data in agricultural operations. Drones with advanced imaging sensors and other components enable farmers to monitor crops, detect pests, and optimize resource management. With the increasing demand for precision agriculture and data-driven farming, reliable and efficient drone hardware becomes crucial for enhancing productivity and improving crop yields.
Camera Segment Projected to Dominate the Market Share in the Component Segment
The camera systems are likely to account for the largest share of the agriculture drone market by 2028. Advanced imaging sensors, including multispectral and thermal cameras, provide valuable insights into plant health, disease detection, and crop monitoring. The increasing demand for accurate and detailed aerial imagery in precision agriculture is driving the dominance of the camera segment.
By capturing and analyzing visual data from drones, farmers can make informed decisions regarding irrigation, pesticide application, and overall crop management. Cameras contribute significantly to the advancement of digital agriculture and the improvement of crop productivity.
North America Expected to Grow Significantly During the Forecast Period
North America is likely to grow significantly during the forecast period, driven by advanced agricultural practices, high adoption of precision farming, and a strong presence of drone manufacturers. The region's farmers are increasingly recognizing the benefits of agriculture drones in optimizing crop monitoring, yield estimation, and pest management. North America's well-established regulatory framework and infrastructure support the safe operation of drones in agriculture, making it a key growth region in the agriculture drone market.
With the increasing demand for agriculture drones for agriculture applications, the market is attracting more venture capitalists to invest in the industry. Many UAV manufacturers have raised funds through venture firms, indicating the growing interest and potential in the market.
Premium Insights
- Increasing Demand for High-Quality Crop Yield to Drive Market
- North America to Account for Largest Market Share During Forecast Period
- Hardware Segment and China to Account for Significant Share in 2023 Vs. 2028
- Precision Farming Segment to Lead Market in 2023 in Terms of Value
- Hardware Segment to Account for Largest Share During Forecast Period in Terms of Value
- North America to be Dominant Market During Forecast Period
Market Dynamics
Drivers
- Demand for Optimization of Farm Management Using Agricultural Drones
- Favorable Government Policies, Subsidies, and Regulations to Drive Usage of Digital Agriculture Tools
- Availability of Software Solutions for Field Surveys and Data Analytics
- Growth in Concerns Regarding Ecosystem Change
Restraints
- Security and Safety Concerns Associated with Civil and Commercial Application of Drones
- Large Number of Fragmented Lands in Developing Countries
- Lack of Technical Knowledge and Training Activities
Opportunities
- Exemptions by Us Faa for Use of Agriculture Drones
- High Adoption of Aerial Data Collection Tools in Agriculture
- Increase in Use of Agricultural-Based Software Via Smartphones
- Early Detection of Crop Diseases and Ease of Farm Management
Challenges
- Management of Data Collected by Agriculture Drones
- Standardization of Communication Interfaces and Protocols for Precision Agriculture
- Lack of Technical Knowledge Among Farmers
- Scarcity of Trained Pilots
- High Cost of Drones to Impact Adoption Among Small-Scale Farmers
Competitive Landscape
Key Players
- Dji
- Precisionhawk
- Trimble Inc.
- Parrot Drone Sas
- Bayer Ag
- Yamaha Motor Co., Ltd
- Ageagle Aerial Systems Inc.
- Dronedeploy
- Autelrobotics
- Sentera
- Optim Corp.
- Microdrones
- Aerialtronics
- Delair
- Xag Co., Ltd.
Other Players
- Skydio, Inc.
- Agrodrone Ai
- Aries Solutions Pvt Ltd
- Wingtra
- Lockheed Martin Corp.
- Gamaya
- Atmos Uav
- Skyx
- Slantrange, Inc.
- Nileworks
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 378 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $4.5 Billion |
| Forecasted Market Value (USD) by 2028 | $17.9 Billion |
| Compound Annual Growth Rate | 31.5% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/wbilb1
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