New York, Jan. 18, 2023 (GLOBE NEWSWIRE) -- According to The Insight Partners, “Agriculture Drone Market Size, Share, Growth and Global Forecast to 2028 - COVID-19 Impact and Global Analysis by Component (Hardware and Software), Type (Fixed Wing and Rotary Wing), Farming Location (Indoor and Outdoor), Type of Produce (Field Crops, Fruit & Vegetable, Dairy & Livestock, and Others), Farm Size (Small & Medium Crops, and Large Crops), Application (Precision Farming, Livestock Monitoring, Smart Greenhouse, and Others), and Geography”; The global agriculture drone market demand is fuelled by growing demand for drones in applications such as aerial imaging, crop monitoring, and crop spraying, flourishment of precision farming and growing popularity of robotics in the agriculture sector.
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Global Agriculture Drone Market Study, Size, Share, Segmentations and Regional Scope:
| Market Size Value in | USD 0.987 Billion in 2021 |
| Market Size Value by | USD 6.37 Billion by 2028 |
| Growth rate | CAGR of 31.5% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
| No. of Pages | 150 |
| Historical data available | Yes |
| Segments covered | Component, Type, Farming Location, Type of Produce, Farm Size, Application, and Geography |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, South & Central America |
| Country scope | US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Agriculture Drone Market: Competitive Landscape and Key Developments
AeroVironment, Inc.; AgEagle Aerial Systems Inc; DJI; DroneDeploy; PRECISIONHAWK INC; Third Element Aviation GmbH, Sentera, Yamaha Motor Corporation, U.S.A.; Trimble Inc.; and Parrot Drone SAS are among the key players operating in the agriculture drone market.
In August 2021: DJI—one of the market leaders in drone and camera technology—launched Agras T30 and T10 agriculture drones. The Agras T30 and T10 were developed in partnership with farmers to make aerial precision agriculture more reachable and convenient and allow drone technology to improve their productivity.
In February 2021: DroneDeploy, a leading enterprise drone data platform, collaborated with Corteva Agriscience, one of the world’s largest pure-play agricultural organizations. The collaboration aimed to help farmers plant and harvest efficiently, safely, and sustainably, as well as to improve management decisions.
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Impact of COVID-19 on Global Agriculture Drone Market Growth:
The COVID-19 pandemic severely affected the agriculture drone market as several government initiatives worldwide disrupted manufacturing and global supply chains, resulting in shutdowns and closure of farming sectors. Prolonged dip in food crop prices and reduced demand for agriculture equipment and tools by farmers are a few factors that declined the growth of the agriculture drone market. Commercial and regulatory restrictions have created several challenges for agriculture drone manufacturers in obtaining specific raw materials and components needed to manufacture their products. However, the slowdown of economies due to the pandemic accelerated the requirement for digitization and automation in the agriculture industry. Also, advanced farming techniques such as crop health monitoring, drone yield monitoring, and irrigation scheduling are anticipated to boost the agriculture drone market in the coming years.
The agriculture drone market in Asia Pacific is anticipated to grow at the highest CAGR during the forecast period. A growing number of partnerships and cooperation between public and private sectors to augment food supply and a surge in adoption of enhanced technologies in agribusiness are becoming major factors accelerating the market growth in Asia Pacific.
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Global Agriculture Drone Market: Regional Overview
The agriculture drone market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America. North America dominated the market in 2021 and is expected to continue its dominance during the forecast period. The market in the region is further segmented into the US, Canada, and Mexico. North America is one of the largest and most advanced regions supporting massive adoption of innovative agriculture technologies and is continuing to improve more farm tools with the help of IoT and AI. Drones are largely utilized for spraying and precision farming, as it helps with useful data collection of the plants in field conditions. The US is the early adopter of precision farming technologies, thereby becoming a major factor responsible for the growth of the agriculture drone market in North America.
In October 2021, the European Commission announced a plan to implement a Drone Strategy 2.0 in 2022 to strengthen the region’s impending vision for sustainable and smart mobility in the agriculture sector. Due to continuous technological advancements in crop spraying, irrigation, and soil & field analysis, the demand for agriculture drones is growing significantly in the region. The stringent government regulations for flying drones at certain heights have become a concern for farmers having agricultural land. Additionally, farmers' lack of awareness, limited adaptability to advancing technologies, and high costs associated with such devices limit the region's market growth.
In South America, agriculture drone providers continue to create awareness among farmers, giving information about the field and monitoring crop production. In addition, the use of a drone has helped in cutting down labor requirements and has further reduced resource requirements. In January 2022, a forest restoration project started using XAG Agricultural Drones in Brazil, a pioneer in experimenting with the scope of planting seeds of native tree species with the help of a drone. It aims to help speed up the forest restoration process by planting tree species with a commercial interest and environmental adaptation in the country.
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Agriculture Drone Market: Type Overview
The agriculture drone market, based on type, is bifurcated into fixed and rotary wings. The rotary wing segment accounted for a larger share of the market in 2021. Due to its greater maneuverability and compact design, higher payload capacity, comparatively lower price than the other types of drones, and easy-to-use nature, the demand for rotary wing drones continues to rise in the market. Rotary drones require less space and provide ease of regulating the direction, which are the major factors augmenting the segment's growth.
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