LONDON, Nov. 30, 2016 /PRNewswire/ -- The global agriculture drone market is expected to reach USD 3,770.0 million by 2024, according to a new report by Grand View Research, Inc. The increasing technological advancements in equipment and for enhancing the quality of the farming techniques have led to the increased implementation of agriculture drones in the market.
Increasing automation in the agriculture process, owing to the labor crisis, such as lack of skilled farmers, aging farmers, is also expected to positively impact the market growth. A favorable shift in the regulatory policy is also expected to allow start-ups to operate in small and large farming operations and aid in disease & water management.
Innovations in the GPS mapping field coupled with the advancements in precision agriculture are expected to propel the industry growth over the forecast period. Drones have the potential to implement better plantation with crop rotation strategies and give crucial inputs related to the daily progress of crops which is further contributing to the growth.
The companies operating in the industry are designing and manufacturing systems that are collecting the data and are incorporating them into business models. which is further anticipated to enhance the industry growth. The data gathered from drones help the farmers to improve yields; supply water, fertilizer, or chemical when needed, and are also able to map their fields, check for signs of disease, monitor crop health, and save time in the process.
The scarcity of trained pilots for operating the drones may impact the market growth, although the market is expecting to overcome the scarcity, gradually, with the increasing applications of the drone.
Further key findings from the report suggest:
The fixed wing agriculture drone is expected to remain as a key revenue generating segment over the forecast period. The hybrid agriculture drones are anticipated to witness enormous growth in the next 8 years, owing to their ability to carry heavy weights and hover over fields.
The crop scouting application is anticipated to drive the market growth over the forecast period, with the increasing application of crop spraying, which will further increase the yields and reduce the wastage of pesticides & fertilizers and crops.
The North America agriculture drones market is expected to remain the key revenue generating region with a prevalent share of the industry. The increasing adoption of the drones, in various applications including spraying, seeding, and livestock farming, has led to the enormous market share.
The Asia Pacific agriculture drone market is anticipated to witness a significant growth over the forecast period, owing to the increasing investments in R&D in the region.
The key players in the agriculture drone market include DJI Technology, Trimble Navigation Ltd., PrecisionHawk, Parrot SA, and 3D Robotics
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