Agriculture Drones Market Report
Agriculture Drones Market by Type (Fixed Wing, Rotary Wing, and Others), Application (Crop Monitoring, Soil & Field Analysis, Planting & Seeding, Crop Spray, and Others), Technology (Manual and Autonomous), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028
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Impact of covid-19 on Agriculture Drones Market
Global Agriculture Drones Market Analysis
The global agriculture drones market is predicted to garner $6,244.5 million in the 2021–2028 timeframe, growing from $1,480.5 million in 2020, at a high CAGR of 19.2%.
Increasing pressure on global food supply, growing adoption of precision farming practices, and rising venture funding in development of drones are the key factors anticipated to drive the agriculture drone market.
However, lack of standardization of communication interfaces and protocols and rules & regulations over flying commercial drones in civilian spaces may restrain the growth of the global industry during the forecast period.
According to the regional analysis of the market, the North America agriculture drone market is anticipated to grow at a CAGR of 17.9%, by generating a revenue of $2,112.3 million during the review period.
Agriculture Drones Overview
An agricultural drone or unmanned aerial vehicle (UAV) helps in the optimization of agriculture operations, crop production, and crop growth monitoring. Also, drones are used in precision agriculture for a variety of tasks, including soil and crop field analysis, planting, and pesticide application. With the use of variety of imaging technologies, including multispectral, hyperspectral, and thermal imaging, farmers are able to get a better picture of their farms and fields. Resulting application of agricultural drone data and its analysis could help improve crop yields and farm efficiency. Furthermore, drones are increasingly being used in agriculture as part of an effective approach to sustainable agricultural management that allows agricultural engineers, agronomists, and farmers to assist streamline their operations and acquire useful insights into their crops utilizing strong data analytics.
Covid-19 Impact on Agriculture Drones Market
COVID-19 has negatively impacted various industries, including agriculture. As a result, demand for agriculture equipment and tools plummeted in last couple of years. Farmers' morale has been damaged by the pandemic all around the world. Farmers' expectations for employing agricultural drones have been lowered due to a prolong dip in food crop prices. Presently, there has been ever increasing need for digitalization and automation in every industry including agriculture. However, since the economies have returned to normalcy following the slowdown of pandemic, the drone business is likely to gain traction. Many agritech companies have come up with developed innovative farming technology by focusing more on wireless platforms such as drone technology to enable real-time decision making in areas such as yield monitoring, field mapping, irrigation scheduling, crop health monitoring, and harvesting management, among other things, in order to improve agriculture productivity.
In terms of the adoption of innovative agricultural technology, North America and Europe are the largest and most advanced markets, while Asia-Pacific has the most potential for growth in this sector. The apparent dearth of agriculture labor and low wages will further reduce the employment of labors in the agricultural sector which is expected drive the agricultural drones market. Agricultural drones, on the other hand, offer a greater ROI and savings for large agricultural firms in the short to medium term, despite their relatively higher cost, and are thus seeing widespread adoption.
Increasing Adoption of Precision Farming is Likely to Drive the Market Growth
Drone data is frequently utilised on farms to help farmers make better agronomic decisions, and it is part of a system known as "precision agriculture." Different technologies are being developed, including global positioning systems and guided vehicles, to usher in a new era of precision farming. The agricultural sector's rapid growth, which is already incorporating technology advancements into its agricultural methods, will continue to fuel the market for agriculture drones vis-à-vis precision agriculture. Furthermore, a lack of agricultural employment, which fell from 27.8% in 2017 to 26.4% in 2020 as a percentage of the entire population, has led to a greater reliance on precision farming instruments such as agricultural drones.
As per the United Nations (UN) estimates, it projects that the world's population will reach a 9.7 billion by 2050, causing agricultural consumption to rise around 70% between 2010 and 2050. With the view of increasing population and the surplus food required to meet the growing needs, the application of precision farming and use of technologies such as drones are increasing across the world. Considering the large agriculture lands owned by most of the farmers and agriculture companies that are using drones, the potential for drone growth in agriculture is likely to be high in the coming years.
To know more about global agriculture drone market drivers, get in touch with our analysts here.
Lack of Standardization vis-à-vis Agriculture Drones Devices to Restrain the Growth of the Global Industry
The lack of standardization of communication interfaces and protocols is one of the biggest challenges faced by the worldwide agricultural drones market. Agriculture drones and other smart agricultural devices interact via variety of interfaces, technologies, and protocols. Data may be misrepresented due to the absence of standardisation of various communication interfaces and protocols. Drones have been in disarray for years, with no standards in place to guide the sector or its rapid growth. However, with enhancement in drone innovation and its increasing utility across agriculture and other sector, standardization issue is likely to be addressed over the forecast period.
Growing Adoption of Sustainable Agriculture Practices to Foster the Growth of Agriculture Drones
Agriculture is increasingly relying on information and communication technology (ICTs) to solve environmental issues. Agriculture faces huge problems as a result of climate change, and the ability of farming communities to adapt and become resilient is becoming critical to feed the world's rising population. Harnessing the growth and transformative potential of ICTs provides a fantastic platform for not just addressing some of these issues, but also for speeding progress toward the 2030 Sustainable Development Goals (SDGs). Traditional agricultural practices will see a shift in efficiency and productivity when advanced technologies are adopted. Farmers may use improved data analytics to streamline their production processes using sustainable farming techniques. Increased investment in agricultural drones and other ancillary equipment will also help to drive the agriculture drones market growth.
To know more about the global agriculture drone market opportunities, get in touch with our analysts here.
Agriculture Drones Market
Based on types of drones, the agriculture drone market has been sub-segmented as fixed wing, rotary, and others of which the rotary sub-segment is projected to generate the maximum revenue with the fastest growth during the forecast period.
Source: Research Dive Analysis
The rotary sub-segment is predicted to have a dominating market share in the global market with a revenue of $800.6 million in 2020 and register a revenue of $3,448.6 million during the forecast period, growing at a CAGR of 19.5%.
Moreover, the rotary wing sub-segment is anticipated to be the fastest growing segment over the forecast period. The ease of regulating the direction and elevation of rotary drones makes them the most popular among other types. These drones offer the optimum combination of control, lift, manoeuvrability, and affordability. For instance, the DJI Matrice 200 series are offered by DJI Technology Co., Ltd, a popular example of a multi-propeller drone, with the DJI Matrice 210 RTK offering a payload of up to 2KG and a range of up to 7KM, which is more than sufficient for most surveying applications in agriculture sector.
The fixed wing drone sub-segment is predicted to have a substantial market share in the global market with a revenue of $387.5 million in 2020 and register a revenue of $1,613.7 million during the forecast period, growing at a CAGR of 19.0%. Fixed-wing aircraft has the advantage of being able to travel long distances on a single battery. Most commercial models can fly for an hour or longer and cover roughly 400 hectares due to their improved engine efficiency which are ideal for assessing oil pipelines or electricity pylons.
Agriculture Drones Market
Based on application, the market has been segregated into Crop Monitoring, soil & field analysis, planting $ seeding, crop spray, and others. Among the mentioned sub-segments, the crop spray drone sub-segment is predicted to show the fastest growth and Crop Monitoring sub-segment is expected to garner a dominant market share.
Source: Research Dive Analysis
The crop spray sub-segment of the global agriculture drone market is projected to have the fastest growth and surpass $748.1 million by 2028, with an increase from $163.8 million in 2020. In drone farming, crop spray drones used for pesticide, irrigation, and fertilizer applications allows for more efficient use in tiny fields, rice paddies, and other water-logged agricultural systems, as well as steeply sloped or difficult-to-access places. As drones can be equipped with GPS, ultrasonic echoes, and lasers to maintain their height above the crop, such systems can be integrated into precision agriculture. These enhancements in the crop spraying drones are expected to propel the growth of the sub-segment in the coming years.
The crop monitoring sub-segment of the global agriculture drone market is projected to register a substantial revenue of $2,078.1 million by 2028, with an increase from $518.0 million in 2020. When compared to standard satellite techniques, the use of crop monitoring drones enables for greater resolution data of agricultural conditions (up to 16x), quick identification of stressed areas, pest and disease infestations, and actual plant counts. According to estimates, drones can apply fertilizers and pesticides up to 5 times faster than conventional equipment in fields up to 50 ha, and by focusing solely on regions that need treatment as shown by crop monitoring, up to 60% of materials can be saved.
Agriculture Drones Market
Based on technology, the market has been bifurcated into Manual and autonomous. Among the mentioned sub-segments, the autonomous sub-segment is predicted to show the fastest growth and Manually operated drones sub-segment is expected to garner a dominant market share.
Source: Research Dive Analysis
The autonomous drones sub-segment of the global agriculture drone market is projected to have the fastest growth and surpass $ 2,244.0 million by 2028, with an increase from $ 513.3 million in 2020. Autonomous agriculture drones are the drones which comprise advanced ground control systems that decrease the number of operators required to control the fleet with the aid of automatic supervision processes. Currently, several applications in agriculture such as data-collection missions and drone mapping are now conducted autonomously. Moreover, with enhancement in autonomous technologies such as automated seeders, and autonomous pollinating drones that can work and evaluate crop health without the need for operators, the sub-segment is anticipated to witness commendable growth in the coming years.
The manual sub-segment of the global agriculture drone market is projected to register a substantial revenue of $4,000.4 million by 2028, with an increase from $967.2 million in 2020. The manually operated drones include the airborne portion of the drone, the pilot controlling the aircraft via -ground control station, wireless linkages (control and command links), as well as the sensor(s) mounted on the UAV, and the software that can be used to analyze the data collected by the sensor(s). Manually operated drones equipped with several sensors allowing a more accurate and diverse crop management system are increasing in demand among farmers. Ease of government restrictions for flying drones and support for drone startups across the world are expected to boost the sub-segment’s growth during the forecast period.
Agriculture Drones Market
The agriculture drone market was investigated across North America, Europe, Asia-Pacific, and LAMEA.
Source: Research Dive Analysis
The Market for Agriculture Drones in Asia-Pacific to be the Most Dominant
The Asia-Pacific agriculture drone systems market value was estimated at $477.5 million in 2020 and is projected to register a revenue of $2,172.4 million during the forecast period. Increasing adoption of enhanced technologies in agribusiness and growing co-operation between public and private sectors to augment food are the key factors driving the market growth in the region. Moreover, in countries such as Japan and South Korea, the regulatory aspects of agriculture drone use are well established under civil aviation and pesticide use legislation and licenses. Also, China, Taiwan, Malaysia, India, and the Philippines have aviation regulations and draught guidelines in place. These developments in the region are anticipated to foster the agriculture drone market growth in the region.
Competitive Scenario in the Global Agriculture Drones Market
Product launches and mergers & acquisitions are common strategies followed by major market players.
Source: Research Dive Analysis
Agriculture drone market share has been accounted by key players including AgEagle Aerial Systems Inc., DJI, AeroVironment, Inc., Delair, Microdrones, Parrot SA, Precisionhawk, SenseFly, Sentera LLC, and Yamaha Motor Corporation, among others. Also, agriculture drone market is highly fragmented and accounted by large number of players. Product innovation, joint ventures & partnerships, and acquisitions of smaller players are the key strategies deployed by the major players. In spite of negative Covid-19 impact on agriculture drone market, the companies are instrumental in executing several growth strategies considering the potential prospects of agriculture drones in the future.
In May 2018, DJI, a commercial drone maker, partnered with Microsoft, to develop tablet apps that can pilot DJI's drones instead of using standard controllers. This partnership was planned to combine Microsoft's machine learning skills with DJI's drone technology, improving the UAVs' autonomous capabilities.
Porter’s Five Forces Analysis for the Global Agriculture Drones Market:
- Bargaining Power of Suppliers: In the case of agriculture drones, currently there is a limited amount of localization in terms of manufacturing sensors and specific equipment such as propellors for drone manufacturing. Most of the developed countries rely on the import of the necessary components, including sensors, propellors, and power electronics. Given the constrain on domestic supply of high-value components, global suppliers currently have higher bargaining power.
Thus, the bargaining power of the suppliers is high.
- Bargaining Power of Buyers: There are a few global manufacturers and increasing number of domestic players. Agriculture customers will have moderate bargaining power as long as there are obstacles to drone adoption, such as standard protocols and rules & regulations placed by the government over flying drones. Also, competitive pricing among drone manufacturers weakens the bargaining power of buyers.
Thus, the bargaining power of the buyers is moderate.
- Threat of New Entrants: Entry barriers due to government regulations over usage of drones and lack of international standards are refraining the entry of new entrants. However, low capital investment and demand for several allied drone services such as surveys, inspection, and security are encouraging the growth of startups.
Thus, the threat of the new entrants is moderate.
- Threat of Substitutes: Agriculture drones are unique in their capabilities and value they offer as compared to substitutes such as use of satellite data or helicopters. Also, they offer economic value as they are cheaper and easy to learn compared to their substitutes (helicopters). Such benefits give an added advantage to agriculture drones over its substitutes
Thus, the threat of substitutes is low.
- Competitive Rivalry in the Market: The agriculture drone market is fragmented and comprised of large number of market players and startups. Few major players are aggressively investing in the drone technology, leveraging their financial strength and market reach across the world wherein they can have competitive edge over other players or new entrants entering the market.
Therefore, the competitive rivalry in the market is moderate.
Historical Market Estimations
Base Year for Market Estimation
Forecast Timeline for Market Projection
North America, Europe, Asia-Pacific, LAMEA
Segmentation by Type
Segmentation by Application
Segmentation by Technology
Key Companies Profiled
Q1. What is the size of the global agriculture drone market?
A. The size of the global agriculture drone market was over $1,480.5 million in 2020 and is projected to reach $6,244.5 million by 2028.
Q2. Which are the major companies in the agriculture drone market?
A. The agriculture drones market share is accounted by key players namely AgEagle Aerial Systems Inc., DJI, AeroVironment, Inc., Delair, Microdrones, Parrot SA, Precisionhawk, SenseFly, Sentera LLC, and Yamaha Motor Corporation.
Q3. Which region, among others, possesses greater investment opportunities in the near future?
A. The Asia-Pacific region possesses great investment opportunities for investors to witness the most promising growth in the future. Agriculture drones have been leading investment opportunity amongst most of the commercial drone applications.
Q4. What will be the growth rate of the Asia-Pacific agriculture drone market?
A. Asia-Pacific agriculture drone market is anticipated to grow at 20.3% CAGR during the forecast period.
Q5. What are top players major strategies to strengthen their market presence?
A. Technological development of drones with respect to flight duration, increasing functions, and strategic partnerships among companies are the key strategies opted by the operating companies in this market.
Q6. Which companies are investing more on R&D practices?
A. DJI, Parrot SA, and AeroVironment, Inc. are investing more on R&D activities for developing new products and technologies.
Q7. What are the pre and post COVID-19 impact on the agriculture drones market?
A. Although the agricultural drones market has suffered a serious economic slump during the pandemic, the companies have adopted new strategies and developed new skills to recover. In the wake of development in precision farming and innovations in drone tech, the market is likely to tap into several growth opportunities in near future.
Q8. Which applications are expected to drive the growth of the agriculture drones market in the next 5 years?
A. Soil & field analysis, planting & seeding, and crop spraying are some of the key applications expected to drive the growth of agriculture drone market.
Q9. What is the best drone for agriculture?
A. DJI’s DJI Air 2, senseFly’s eBee SQ, and PrecisionHawk’s Lancaster fixed wing UAV are some of the most popular drones used in agriculture.
Q10. How much does an agriculture drone cost?
A. Variety of agriculture drones from smaller application to high tech applications can range from $1,500 to well over $25,000.
1.2.Real time insights and validation
1.4.Assumptions and forecast parameters
2.2.By type trends
2.3.By application type trends
2.4.By function type trends
2.5.By end-user trends
3.1.Market segmentation & definitions
3.2.1.Top investment pockets
3.2.2.Top winning strategies
3.3.Porter’s five forces analysis
3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market
4.Agriculture Drone Market, by Type
4.1.1.Market size and forecast, by region, 2020-2028
4.1.2.Comparative market share analysis, 2020 & 2028
4.2.1.Market size and forecast, by region, 2020-2028
4.2.2.Comparative market share analysis, 2020 & 2028
4.3.1.Market size and forecast, by region, 2020-2028
4.3.2.Comparative market share analysis, 2020 & 2028
5.Agriculture Drone Market, by Application
5.1.1.Market size and forecast, by region, 2020-2028
5.1.2.Comparative market share analysis, 2020 & 2028
5.2.Soil and Field Analysis
5.2.1.Market size and forecast, by region, 2020-2028
5.2.2.Comparative market share analysis, 2020 & 2028
5.3.Planting and Seeding
5.3.1.Market size and forecast, by region, 2020-2028
5.3.2.Comparative market share analysis, 2020 & 2028
5.4.1.Market size and forecast, by region, 2020-2028
5.4.2.Comparative market share analysis, 2020 & 2028
5.5.1.Market size and forecast, by region, 2020-2028
5.5.2.Comparative market share analysis, 2020 & 2028
6.Agriculture Drone Market, by Technology
6.1.1.Market size and forecast, by region, 2020-2028
6.1.2.Comparative market share analysis, 2020 & 2028
6.2.1.Market size and forecast, by region, 2020-2028
6.2.2.Comparative market share analysis, 2020 & 2028
7.Agriculture Drone Market, by Region
7.1.1.Market size and forecast, by Type, 2020-2028
7.1.2.Market size and forecast, by Application, 2020-2028
7.1.3.Market size and forecast, by Technology, 2020-2028
7.1.4.Market size and forecast, by Country, 2020-2028
7.1.5.Comparative market share analysis, 2020 & 2028
126.96.36.199.Market size and forecast, by Type, 2020-2028
188.8.131.52.Market size and forecast, by Application, 2020-2028
184.108.40.206.Market size and forecast, by Technology, 2020-2028
220.127.116.11.Market size and forecast, by Type, 2020-2028
18.104.22.168.Market size and forecast, by Application, 2020-2028
22.214.171.124.Market size and forecast, by Technology, 2020-2028
126.96.36.199.Market size and forecast, by Type, 2020-2028
188.8.131.52.Market size and forecast, by Application, 2020-2028
184.108.40.206.Market size and forecast, by Technology, 2020-2028
7.2.1.Market size and forecast, by Type, 2020-2028
7.2.2.Market size and forecast, by Application, 2020-2028
7.2.3.Market size and forecast, by Technology, 2020-2028
7.2.4.Market size and forecast, by Country, 2020-2028
7.2.5.Comparative market share analysis, 2020 & 2028
220.127.116.11.Market size and forecast, by Type, 2020-2028
18.104.22.168.Market size and forecast, by Application, 2020-2028
22.214.171.124.Market size and forecast, by Technology, 2020-2028
126.96.36.199.Market size and forecast, by Type, 2020-2028
188.8.131.52.Market size and forecast, by Application, 2020-2028
184.108.40.206.Market size and forecast, by Technology, 2020-2028
220.127.116.11.Market size and forecast, by Type, 2020-2028
18.104.22.168.Market size and forecast, by Application, 2020-2028
22.214.171.124.Market size and forecast, by Technology, 2020-2028
126.96.36.199.Market size and forecast, by Type, 2020-2028
188.8.131.52.Market size and forecast, by Application, 2020-2028
184.108.40.206.Market size and forecast, by Technology, 2020-2028
220.127.116.11.Market size and forecast, by Type, 2020-2028
18.104.22.168.Market size and forecast, by Application, 2020-2028
22.214.171.124.Market size and forecast, by Technology, 2020-2028
7.2.11.Rest of Europe
126.96.36.199.Market size and forecast, by Type, 2020-2028
188.8.131.52.Market size and forecast, by Application, 2020-2028
184.108.40.206.Market size and forecast, by Technology, 2020-2028
7.3.1.Market size and forecast, by Type, 2020-2028
7.3.2.Market size and forecast, by Application, 2020-2028
7.3.3.Market size and forecast, by Technology, 2020-2028
7.3.4.Market size and forecast, by country, 2020-2028
7.3.5.Comparative market share analysis, 2020 & 2028
220.127.116.11.Market size and forecast, by Type, 2020-2028
18.104.22.168.Market size and forecast, by Application, 2020-2028
22.214.171.124.Market size and forecast, by Technology, 2020-2028
126.96.36.199.Market size and forecast, by Type, 2020-2028
188.8.131.52.Market size and forecast, by Application, 2020-2028
184.108.40.206.Market size and forecast, by Technology, 2020-2028
220.127.116.11.Market size and forecast, by Type, 2020-2028
18.104.22.168.Market size and forecast, by Application, 2020-2028
22.214.171.124.Market size and forecast, by Technology, 2020-2028
126.96.36.199.Market size and forecast, by Type, 2020-2028
188.8.131.52.Market size and forecast, by Application, 2020-2028
184.108.40.206.Market size and forecast, by Technology, 2020-2028
220.127.116.11.Market size and forecast, by Type, 2020-2028
18.104.22.168.Market size and forecast, by Application, 2020-2028
22.214.171.124.Market size and forecast, by Technology, 2020-2028
7.3.11.Rest of Asia-Pacific
126.96.36.199.Market size and forecast, by Type, 2020-2028
188.8.131.52.Market size and forecast, by Application, 2020-2028
184.108.40.206.Market size and forecast, by Technology, 2020-2028
7.4.1.Market size and forecast, by Type, 2020-2028
7.4.2.Market size and forecast, by Application, 2020-2028
7.4.3.Market size and forecast, by Technology, 2020-2028
220.127.116.11.Market size and forecast, by Type, 2020-2028
18.104.22.168.Market size and forecast, by Application, 2020-2028
22.214.171.124.Market size and forecast, by Technology, 2020-2028
126.96.36.199.Market size and forecast, by Type, 2020-2028
188.8.131.52.Market size and forecast, by Application, 2020-2028
184.108.40.206.Market size and forecast, by Technology, 2020-2028
220.127.116.11.Market size and forecast, by Type, 2020-2028
18.104.22.168.Market size and forecast, by Application, 2020-2028
22.214.171.124.Market size and forecast, by Technology, 2020-2028
8.1.4.Recent strategic moves & developments
8.2.4.Recent strategic moves & developments
8.3.4.Recent strategic moves & developments
8.4.Parrot Drone SAS
8.4.4.Recent strategic moves & developments
8.5.4.Recent strategic moves & developments
8.6.Yamaha Motor Co., Ltd.
8.6.4.Recent strategic moves & developments
8.7.AgEagle Aerial Systems Inc.
8.7.4.Recent strategic moves & developments
8.8.4.Recent strategic moves & developments
8.9.4.Recent strategic moves & developments
8.10.4.Recent strategic moves & developments
Agriculture drones are unmanned aerial vehicles (UAVs) specifically designed to optimize agriculture operational efficiency, crop growth monitoring, and crop production. The digital imaging capabilities and drone sensors of the agriculture drones are intended to offer farmers a better picture of their fields. The sudden climate changes across the globe are creating new layers of complexity in the agriculture industry, which is propelling the need for advanced solutions, such as agriculture drones to enhance crop yield. Moreover, drones help in revealing several issues and rapidly identify various problems, such as soil variation, fungal infestations, and irrigation problems.
Furthermore, drones have revolutionized the agriculture industry across the globe by offering cost-saving, enhanced efficiency, and more profitability. Though the global agriculture drones market is still in its burgeoning stage, breakthroughs in drone technology are projected to accelerate the agriculture drones market growth in the upcoming years.
COVID-19 Impact on Agriculture Drones Market
The outbreak of COVID-19 across the globe has adversely impacted the global agriculture drones market growth. This negative growth is majorly attributed to the lockdowns and financial disruptions in many countries across the globe. In addition, the non-availability of workforce and supply chain disruptions have adversely affected the market growth. The demand for agriculture tools and equipment has plummeted during the pandemic period. The expectations of farmers for employing agricultural drones have been lowered owing to a prolong dip in prices of food crop.
Presently, the need for automation and digitalization is increasing at a rapid pace in every industry including agriculture. Since the economies are returning to normalcy following the slowdown of coronavirus pandemic, the agriculture drone business is expected to gain traction. A large number of agritech companies are coming up with developed innovative farming technologies, such as drone technology for real-time decision making in several areas including yield monitoring, irrigation scheduling, field mapping, harvest management, and crop health monitoring to improve agriculture productivity. These factors will help the market to witness significant growth after the end of pandemic.
Agriculture Drones Market Trends and Developments
The companies operating in the global industry are adopting several growth strategies and business tactics such as partnerships, collaboration, business expansion, and product launches to obtain a leading position in the global industry, which is predicted to drive the global agriculture drones market growth in the upcoming years.
For instance, in September 2019, DJI, the global leader in civilian drones and aerial imaging technology, announced the launch of ‘P4 Multispectral,’ the first-ever fully incorporated multispectral imaging drone for environmental management and precision agriculture. This new imaging drone combines data from numerous sensors to measure the health of crops as well as detect the presence of insects, weeds, and a variety of soil conditions.
In February 2021, senseFly, the world leader in fixed-wing mapping drones, announced the launch of ‘eBee Ag,’ and added to its eBee X series of drone solutions. eBee Ag is affordable and user-friendly that helps agronomists, farmers, and service providers efficiently plant health insights for quicker decision-making by capturing aerial data and thus, improve crop yields and profit potential.
In March 2021, Farmonaut, an Indian start-up offering satellite-based crop health monitoring, entered into a partnership with GarudaUAV, the leading Indian drone services company, to promote the drone-based remote sensing technologies for farming. Farmonaut, through this partnership is working towards educating the farmers in India, regarding the benefits of remote sensing technology in farming.
In June 2021, Sentera, the leading agricultural insights company, announced to have raised a $25 million Series C funding in order to accelerate the delivery of AI-powered decision support for food & agriculture. The company’s technology centers around a software platform tailored for agriculture and food namely, ‘FieldAgent,’ which integrates data from satellites, drone sensors, on-field equipment, soil, weather, and field observations.
Forecast Analysis of Global Market
The global agriculture drones market is projected to witness an exponential growth during the forecast period, owing to the rising adoption of sustainable agriculture practices and increase in investments in agricultural drones and other ancillary equipment across the globe. Conversely, the lack of standardization of protocols and communication interfaces in agriculture drones are expected to hamper the market growth in the projected timeframe.
The growing adoption of precision farming along with technological advancements in drones across the globe are the significant factors and agriculture drones market trends estimated to bolster the growth of the global market in the coming future. According to a latest report published by Research Dive, the global agriculture drones market is expected to garner $6,244.5 million during the forecast period (2021-2028). Regionally, the Asia Pacific region is estimated to observe the rapid growth by 2028, owing to the growing adoption of improved technologies in agribusiness and the growing co-operation between private and public food sectors.
The key players functioning in the global market include AgEagle Aerial Systems Inc., AeroVironment, Inc., DJI, Delair, Parrot SA, Microdrones, Precisionhawk, Sentera LLC, SenseFly, and Yamaha Motor Corporation.
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