Reports & Data Forecasts Agricultural Drones Market To Reach $14.6 Billion By 2028

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Source: Reports And Data news release

Market Summary:

The global agriculture drones market size is expected to reach USD 14.61 billion in 2028 and register a revenue CAGR of 34.5% over the forecast period, according to a latest report by Reports and Data. Increasing need to enhance crop health monitoring and increase agricultural productivity and crop quality in order to meet rising global food demand are key factors expected to drive market revenue growth during the forecast period. Advancements in farming technology, investments in venture funding, and growing awareness regarding benefits of using agriculture drones are other key factors boosting revenue growth of the market.

Rapid development in professional and consumer drones is due to the recent progress made in various technologies and products such as development of more energy-efficient batteries, miniaturization, imagery products and software, and remote communication and control. Agricultural applications of drones mainly consist of soil and field analysis, crop monitoring, health assessment, irrigation, crop spraying, and aerial planting. Potential of agriculture drone to revolutionize the farming industry through requirement-based precise and focused application of crop inputs directly enhances overall efficiency while simultaneously minimizing overall costs. Drones assist players in the field of agriculture shift towards more modernized and sustainable agriculture practices while simultaneously increasing profitability. Use of drones in the agriculture industry is an effective approach towards sustainable agriculture management by minimizing wastage of water, accurately applying fertilizer, and enabling planning and troubleshooting irrigation-related problems.

Some Key Highlights From the Reports

• In November 2020, DJI, which is a leader in camera and drone technology, announced the launch of DJI AGRAS T20. The product is a high-performance, durable, and intelligent precision agriculture spraying drone of portable and modular design. This new product would make it scalable and accessible for farmers who want to apply automated spray technology and digital insights into their operations. The new product has the ability to work in the most complex environments and agricultural land. It can also work in extended flight time mode, has off-the-grid power options, terrain-sensing radar, and a high payload capacity for easy autonomous flight planning.

• Hardware segment is expected to account for largest revenue share in the global agriculture drones market over the forecast period. Increasing adoption of various types of drones such as fixed-wing drones, rotary blade drones, and hybrid drones for different uses among agricultural engineers, farmers, and agronomists in order to obtain more efficient crop oversights and accurately plan and manage operations is projected to drive growth of the hardware segment.

• Camera system segment is expected to register significantly robust revenue growth over the forecast period. Ability of camera systems to provide high quality aerial shots enables farmers in making measurements, assessments, and detection.

• Field mapping segment is expected to account for a considerably large revenue share in the global agriculture drones market, owing to rising need to improve crop health monitoring and quality. Drones help in field mapping by providing information that assists farmers and other agricultural professionals in finding any irregularities in the field.

• The agriculture drones market in North America is expected to account for largest revenue share over the forecast period. Companies in the region such as PrecisionHawk, Trimble Inc, 3DR, AeroVironment, and AgEagle Aerial Systems, Inc. are collaborating with many large farming cooperatives in order to increase agricultural productivity by providing accurate insights regarding crop health with the help of advanced agriculture drones.

• Major players in the market report include DJI, PrecisionHawk, Trimble Inc., Parrot SA, AeroVironment, Yamaha Motor Co., Ltd., AgEagle Aerial Systems, Inc., DroneDeploy, 3DR, and Sentera, Inc.

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