New York, April 13, 2023 (GLOBE NEWSWIRE) -- Market.us predicts that the Agricultural Drones Market will exceed USD 11.08 billion by 2032 from USD 1.7 billion in 2022, with a projected compound annual growth rate (CAGR) of 21.2% between 2023 and 2032. Unmanned agricultural drones are capable of fertilizer application and crop growth monitoring. Farmers will have a better view of their fields thanks to drone sensors and digital imaging capabilities. Advanced farming management is greatly aided by these drones, which can maximize crop production during the forecast period.
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Key Takeaway:
- By component, the hardware component segment is expected to dominate during the forecast period.
- By type, the segment of rotary wings will experience the fastest growth over the forecast period.
- North America held a revenue share of approximately 33.8% in 2022
- Asia Pacific market is expected to register the highest CAGR from 2023 to 2032.
Agricultural drones are used everywhere by farmers for key purposes such as soil assessment and crop management, drainage, irrigation, crop protection, fertility, spraying, pesticide spraying, fertilizer, insecticide spraying, and harvest planning. For complete field monitoring, drone technology can be combined with technological advancement. Globally demand for agricultural drones is increasing.
Factors affecting the growth of the Agricultural Drones Market
Several factors can affect the growth of the agricultural drone market. Some of these factors include:
- Increase in Adoption of Precision Farming: Guided vehicles and global positioning systems are being developed to create an era of precision farming.
- Advancements in Technology: The availability of software solution for field survey and data analytics drive the market in the forecasted period.
- Assessment of Soil and Crop: The drones are used commonly by farmers for key purposes such as soil assessment and crop management, harvest planning, irrigation, drainage, crop protection, fertility, fertilizer spraying, pesticide spraying, and insecticide spraying.
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Top Trends in the Global Agricultural Drones Market
Precision farming offers many benefits to the agricultural sector. To make another time in accuracy cultivating, various advancements are being created, including worldwide situating frameworks and directed vehicles. The market for Agricultural drones will continue to grow due to the rapid growth of the agricultural sector.
Market Growth
The agricultural industry is experiencing new levels of difficulty as a result of unanticipated weather changes all over the world. As a result, there is an increase in the market demand for novel technologies, such as agriculture drones to improve crop production and firm proficiency. Additionally, the aerial perspective provided by drone agriculture may reveal various issues, such as differences in soil, difficulties with drainage, and fungus infections. These standards are used in agriculture to quickly inspect crops and find problems, which will likely drive the agriculture drone market's expansion.
Regional Analysis
In 2022 North America will have the largest market share due to the growing demand for automation in agriculture activities. Due to the many benefits of agriculture drones, the US is expected to lead the North American country-level market. These include the rise in demand for precision farming technology and government initiatives to encourage efficient farming practices. Asia-Pacific is expected to grow at the fastest rate and was second in the global market for agriculture drones during the forecast period. This is due to rapid digital transformation, a high number of farmers contributing to GDP, and the benefits provided by drones in agriculture to overcome productivity issues.
The Europe region will remain in third place during the forecast period because of the higher adoption rate for agriculture drones. This is due to the improved productivity, sustainability, and profitability of farmers who adopted this technology.
Competitive Landscape
The competitive landscape of the market has also been examined in this report. Some of the major players include Drone Deploy, DJI, GoPro, Precision Hawk, AeroVironment Inc., Trimble Navigation Ltd., 3D Robotics, Ageagle Aerial Systems Inc., Parrot Drone, Sintera LLC., Delair Tech SAS, and other key players.
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Scope of the Report
| Report Attribute | Details |
| Market Value (2022) | USD 1.7 Billion |
| Market Size (2032) | USD 11.08 Billion |
| CAGR (from 2023 to 2032) | 21.2% |
| North America Revenue Share | 33.8% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
Farmers must be able to recognize and use technologies to increase food production and meet the growing food demand. The most promising sector in today's economy is agriculture. However, it is facing many problems, such as insufficient labor, extreme weather conditions, and inefficient fertilizer application. These problems can lead to crop diseases, insecticides, pesticides, and other crop health issues or insect bites. Advanced technologies such as agriculture drones can be used to overcome these problems. They have great potential for applications like irrigation, crop spraying, monitoring, soil analysis, Bird control, etc.
Market Restraints
The lack of knowledge about the software applications makes it difficult for farmers to purchase drones. It affects market growth. The agricultural drone market is growing rapidly in the forecasted period. Government regulations restrict the use of agricultural drones due to data privacy protocols.
Market Opportunities
Automation is rapidly changing with a rise in awareness and the ability to perform crucial tasks that are difficult for humans to do under extreme conditions. The growth of automation and monitoring systems that allow business executives to make data-based decisions has been aided by continuous developments in sensors. End-user industries have also benefited from increased awareness about predictive maintenance of heavy industrial machines and other critical setups. This will result in a rise in demand for drones for agriculture, due to the reduction of battery-operated sensors as well as the minimization of maintenance costs.
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Report Segmentation of the Agricultural Drone Market
Component Insight
The market is expected to lead by the hardware component segment over the forecast period. Hardware for agricultural drones includes propulsion structures, cutting-edge GPS technologies, frameworks, and controls, as well as other components. Hardware elements are essential for field and crop monitoring, data collection, crop spraying, and data capture. This industry is growing because of the need to repair, customize, and upgrade drone parts in order to extend their lifespan and provide a competitive advantage.
Type Insight
Rotary-wing drone is estimated to lead the largest share of the agriculture drone hardware market in the forecasted period. Because it has a greater mobility and compact design, higher payload capacity, is easy to use in nature, and is comparatively cheaper than the other drones. These drones require very less space to take off and can float in mid-flight. It can move above and around the farm for easy monitoring, mapping, and inspection.
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Market Segmentation
Based on Component
- Hardware
- Software
- Service
Based on Type
- Fixed-Wing
- Rotary-Wing
- Others
By Geography
- North America
- The US
- Canada
- Mexico
- Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Key Market Players
- Drone Deploy
- DJI
- GoPro
- Precision Hawk
- AeroVironment Inc.
- Trimble Inc.
- 3D Robotics
- Ageagle Aerial Systems, Inc.
- Parrot Drone
- Sintera LLC.
- Delair Tech SAS
- Other Key Players
Recent Development of the Agricultural Drone Market
- The Prime Minister of India unveiled 100 drones for agriculture on the 19th of February 2022. These drones were built in India. This announcement comes shortly after recent policy changes and incentives in the Union budget for the fiscal year 2022-2023. This will increase investments in the drone industry, especially in the agricultural sector which contributes more than 21% to the overall GDP. It also creates opportunities for youth.
- Sentera, a software company that provides software for agriculture, announced a Series C funding raise of more than USD 25 million on June 10, 2021. These funds will be used to increase the delivery of AI-enabled decision support for the agriculture and food industry.
Related Reports
- Drone Market was valued at USD 58.9 billion in 2023 and is projected to reach USD 153.53 billion by 2033, at a CAGR of 9.1%.
- Agricultural robot market size is expected to be worth around USD 34,676.67 million by 2032 from USD 5,070 million in 2021, growing at a CAGR of 19.1% during the forecast period 2022 to 2032.
- Artificial intelligence ai in agriculture market size is expected to be worth around USD 10.2 billion by 2032 from USD 1.2 billion in 2022, growing at a CAGR of 24.5% during the forecast period from 2022 to 2032.
- Precision farming market is estimated to reach USD 7,100 million by 2022. This growth rate will increase at a CAGR of 13.2%
- Smart agriculture market was valued at USD 14,740 million in 2021. It is expected to grow at a compound annual growth rate of 11% between 2023 and 2032.
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