New York, US, May 24, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Research Report by Market Research Future (MRFR), “Agriculture Drones Market Information by Type, Component, Application, and Region - Forecast till 2030”, Agriculture Drones Market could thrive at a rate of 29.30 % between 2022 and 2030. The market size will be reaching around USD 24.9 Billion by the end of the year 2030.
Market Synopsis:
Agriculture drones, also known as ag drones or UAVs (unmanned aerial vehicles), are drones that are specifically designed and used for agricultural applications. They are equipped with sensors and cameras that allow farmers and agricultural workers to monitor crop health, optimize crop yields, and improve farm efficiency.
The agriculture drones market has been growing rapidly in recent years, driven by factors such as the increasing demand for food production, the need for improved efficiency and accuracy in farming, and the development of advanced technologies for drone-based agriculture applications. Agriculture drones can be used for a variety of tasks, including crop mapping, soil analysis, crop spraying, and yield monitoring.
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Market Competitive Landscape:
The affluent companies in the Agriculture Drones industry include:
- 3DR (US),
- Ondas Networks (AMERICAN ROBOTICS)
- ideaForge
- DroneDeploy
- MICRODRONES
- PrecisionHawk, Inc.
- Yamaha Motor Corporation, U.S.A.
- AeroVironment, Inc.
- AgEagle Aerial Systems Inc.
- ISRAEL AEROSPACE INDUSTRIES
Latest Industry Updates:
- April 2023 - Garuda Aerospace, an Indian startup specializing in drones, has become the first company in India to receive a subsidy for the development of agri-drones, in line with the government's initiative to promote the use of such drones in agriculture. The subsidy was awarded to eight farmers who purchased Garuda Kisan Drone, a type-certified drone approved by the DGCA.
- April 2023 - Tequila producer Diageo has also announced its use of drones on agave farms to enhance the digital skills of its agave planters, promote efficient farming practices, and support environmental conservation in the tequila industry.
Scope of the Report - Agriculture Drones Market:
| Report Metrics | Details |
| Market Size by 2030 | USD 24.9 Billion |
| CAGR during 2022-2030 | 29.30% |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Key Market Opportunities | Rising need for automated and continuous monitoring systems. |
| Key Market Dynamics | Rise in need for precision farming technology. |
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Market USP Covered:
Market Drivers:
One driver of the agriculture drone market is the increasing demand for food production. With the global population increasing, the demand for food is also increasing. Agriculture drones help farmers increase their crop production and yield, which is crucial in meeting the growing demand for food.
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Market Restraints:
A major restraint in the agriculture drone market is the high cost associated with these drones. Agriculture drones are relatively expensive, and their high cost may limit their adoption, especially by small-scale farmers who cannot afford the investment. Additionally, there may be regulatory and legal issues in some regions that could also restrain the growth of the market.
COVID 19 Analysis:
The COVID-19 pandemic has had both positive and negative impacts on the agriculture drone market. On the positive side, the pandemic has increased the demand for food globally, leading to an increase in precision agriculture practices and the adoption of agricultural drones. Farmers have been forced to minimize the use of labour-intensive processes due to social distancing measures, and this has resulted in a rise in the adoption of drones to perform various agricultural activities such as planting, spraying, monitoring crop health, and mapping. In addition, drones have enabled farmers to reduce their exposure to COVID-19 by limiting human interactions in the fields. However, the pandemic has also negatively impacted the agriculture drone market. The supply chain disruptions caused by lockdowns and trade restrictions have led to a shortage of key components and delayed product shipments, causing a slowdown in the adoption of agricultural drones. Moreover, the pandemic has led to a reduction in funding for research and development of new drone technologies, which could hamper market growth in the long run.
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Market Segmentation:
- By Type - The types in the market include Fixed Wing, Rotary Blade, and Hybrid.
- By Component - By component, the segment includes Hardware and Software.
- By Application - By application, the segment includes Irrigation Monitoring, Soil and Crop Field Analysis, Planting and Pesticide Spraying, Field Mapping, Crop Scouting, and Others.
Regional Insights:
North America is a significant market for agriculture drones, driven by factors such as the increasing adoption of precision agriculture technologies, the presence of leading drone manufacturers, and the availability of government funding for research and development in the field. Europe is also a significant market for agriculture drones, driven by factors such as the development of advanced technologies for precision agriculture, the increasing adoption of precision agriculture technologies, and the presence of leading drone manufacturers. Further, the Asia-Pacific region is the largest and fastest-growing market for agriculture drones, driven by factors such as the rapid expansion of the agriculture industry in countries such as China, India, and Japan, the increasing adoption of precision agriculture technologies, and the availability of government funding for research and development in the field. The region is also characterized by a large and growing population, increasing urbanization, and rising disposable incomes, which are driving demand for food and agricultural products.
Overall, the agriculture drone market is expected to continue to grow in all three regions, driven by factors such as the increasing demand for food production, the need for improved efficiency and accuracy in farming, and the development of advanced technologies for drone-based agriculture applications. However, companies operating in the market must also be aware of the unique characteristics and challenges of each region to succeed.
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