Agriculture Drones Market Projected to Garner USD 22.10 Billion with a CAGR of 29.3% by 2030 - Report by Market Research Future (MRFR)
Need for Unmanned Aerial Vehicles to Boost Agriculture Drone Market Growth
New York, US, April 21, 2022 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Agriculture Drones Market information by Type, by Components,by Application and Region – forecast to 2030” market size to reach USD 22.10 billion, growing at a compound annual growth rate of 29.3% by 2030.
The discernible dearth of farm laborers across the globe will offer robust opportunities for the market over the forecast period. The scarcity of labor is spurring farm owners in investing in technology-alternatives of which agricultural drones is one of them. The best part this alternative to labor will impart good performance and also save ample time.
Dominant Key Players on Agriculture Drones Market Covered are:
- DJI (China)
- 3DR (US)
- Ondas Networks (US)
- ideaForge (India)
- DroneDeploy (US)
- MICRODRONES (Germany)
- PrecisionHawk Inc. (US)
- Yamaha Motor Corporation
- U.S.A. (US)
- AeroVironment Inc. (US)
- AgEagle Aerial Systems Inc. (US)
- ISRAEL AEROSPACE INDUSTRIES (Israel)
- Delair (France)
- senseFly (Switzerland)
- Sentera (US)
- Trimble Inc. (US)
- THANOS (India)
- Botlink (US)
- Pix4D SA (Switzerland)
- Drone Ag (UK)
- Agremo (US)
- Solvi AB (Sweden)
- Sky-Drones Technologies LTD (UK)
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Market USP Exclusively Encompassed:
The need for unmanned aerial vehicles will boost market growth over the forecast period. The need for such vehicles is on the rise as these can help in optimizing agricultural operations for enhancing crop productions for a higher yield. These are widely used across the world for gathering information, monitoring crop health, analyzing soil and field quality, and performing irrigation operations.
Lack of Standardization to act as Market Restraint
The lack of standardization of protocols and communication interfaces may act as market restraints over the forecast period.
Various Rules and Regulations to act as Market Challenge
Various rules and regulations over flying commercial drones in civilian spaces may act as a market challenge over the forecast period.
Browse In-depth Market Research Report (100 Pages) on Agriculture Drones Market:
Segmentation of Market Covered in the Research:
The global agriculture drones market has been bifurcated based on application, component, and type.
By type, fixed wing will lead the market over the forecast period.
By component, hardware will dominate the market over the forecast period.
By application, field mapping will spearhead the market over the forecast period.
North America to Spearhead Agriculture Drones Market
North America will spearhead the agriculture drones market over forecast period. Increasing need for automation in agricultural activities, the growing adoption in the US for the different perks offered by agriculture drones such as increasing need for precision farming technology & increase in government initiatives for promoting effective farming practices, the presence of major key players, key players making huge investments in the research and development of innovative agriculture drones for different end use applications, new advanced technologies & innovative ideas in the modern generation and also improved more farm tools through AI and IoT, use of smartphones as well as latest developed technologies, increasing use of drones for spraying purposes through new models, use of precision technique that helps in data collection of the plants in field conditions, the US being an early adopter of precision farming technologies, and considerable acceptance of modern agriculture methods in Canada are adding to the global agriculture drones market growth in the region.
APAC to Hold Admirable Growth in Agriculture Drones Market
The APAC region will hold admirable growth in agriculture drones market over the forecast period. Rapid digital transformation, the high population of farmers that are contributing to the GDP in the country, various benefits offered by agriculture drones to overcome the issues which result in lower productivity, increasing adoption of smart agriculture techniques, increasing adoption in China, India, and countries in Southeast Asia, accessibility of arable farms, government support through subsidies, increasing technological access in rural parts of the region, innovation in farming practices, the rising venture funding for the UAV manufacturers, and different companies manufacturing economical UAVs for more applications in the agriculture field are adding to the global agriculture drones market growth in the region.
COVID-19 Impact on the Global Agriculture Drones Market
Disruptions in supply chain, fluctuations in demand share, economic situations, along with immediate & with long term impact of the novel coronavirus possessed a negative impact on the agriculture drones market growth. Such outbreak has put the economic activity at a halt, thus pushing the worldwide economy in a very steep recession. Besides, with the roots originating in China, supply chains across the globe are facing shutdown and unprecedented disruption. Following the relaxation of lockdowns and restrictions across the globe, the market is likely to get back to usual in the days to come.
The global agriculture drones market is both competitive as well as fragmented for the presence of multiple international and domestic key players. These industry players have incorporated a series of innovative strategies for staying at the forefront along with catering to the surging need of the clients including joint ventures, geographic expansions, collaborations, contracts, partnerships, new product launches, and others. Besides, the players are also devoting in numerous research & development activities.
With an aim to cater to the need for drones especially in the agriculture sector, The Skill University has created its School of Drones that will enroll as well as teach 20,000 children from farming families and rural backgrounds.
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