NEW YORK, Oct. 6, 2016 /PRNewswire/ -- The agriculture drones market is at its growth phase; it is expected to reach USD 4,209.2 million by 2022, growing at a CAGR of 30.19%. Rise in the awareness about the benefits of agriculture drones among the farmers and agronomists and the availability of software solutions for field surveys and data analytics are the key factors driving the growth of this market.
"Field mapping application is expected to capture the largest share of the agriculture drones market during the forecast period"
Field mapping application captured the largest share of the agriculture drones market in 2015 and is expected to exhibit the same trend till 2022. This application of agriculture drones helps to look at the condition and health of crops in different soil types and management zones to delineate crop health and yield potential; this propels the growth of the agriculture drones market for field mapping application.
"North America is a major market for agriculture drones"
North America is expected to capture the largest share of the agriculture drones market in 2016. In this region, agriculture drones products are gaining momentum for various agricultural applications such as seeding, spraying, and livestock farming. Along with this, increasing funding from venture firms for UAV manufacturers is driving the growth of the agriculture drones market in North America. The market in APAC is expected to grow at the highest rate during the forecast period. In this region, India has been considered, which plans to boost its manufacturing under the project "Make in India"; this is a key driving factor for the growth of the agriculture drones market in APAC.
Breakdown of profile of primary participants:
- By Company Type: Tier 1: 35 %, Tier 2: 45%, and Tier 3: 20%
- By Designation: C-Level Executives: 35%, Directors: 25%, and Others: 40%
- By Region: North America - 45%, Europe - 20%, APAC - 30%, and RoW - 5%
The reformation of rules for UAVs by Federal Aviation Administration (FAA) and increase in number of exemptions for use of UAVs in agricultural applications act as significant opportunities for the adoption of agriculture drones in the U.S.
Some of the major players in the agriculture drones market are 3DR (U.S.), Trimble Navigation Ltd. (U.S.), DroneDeploy (U.S.), AgEagle LLC (U.S.), Agribotix LLC (U.S.), AutoCopter Corp. (U.S.), Delair-Tech (France), DJI (China), Eagle UAV Services (U.S.), HoneyComb Corporation (U.S.), PrecisionHawk (U.S.), Parrot SA (France), Yamaha Motor (Australia), AeroVironment, Inc. (U.S.), and URSULA Agriculture (U.K.).
The report would help the market leaders/new entrants in this market in the following ways:
1. This report segments the agriculture drones market comprehensively and provides the closest approximations of the overall market size and that of the subsegments across different applications and regions.
2. The report would help stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report would help stakeholders to understand their competitors better and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers & acquisitions carried out in the agriculture drones market.
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