Global Agriculture Drones Market Predicted to Register $6,244.5 Million and Grow at 19.2% CAGR During the 2021 to 2028 Forecast Timeframe [243-Pages] | Proclaimed by Research Dive

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Aug 15, 2022, 09:00 ET

Agriculture drones market is expected to grow by 2028 due to rising adoption of precision farm techniques. Crop monitoring sub-segment is predicted to be highly lucrative. Market in Asia-Pacific region is projected to be highly beneficial by 2028.

NEW YORK, Aug. 15, 2022 /PRNewswire/ -- Research Dive has added a new report to its offering titled, "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".

According to the report, the global agriculture drones market is projected to register a revenue of $6,244.5 million and grow at 19.2% CAGR during the 2021-2028 forecast timeframe.

Dynamics of the Agriculture Drones Market

Drivers: The rising adoption of precision farm techniques to make better agronomic decisions along with the growing pressure on global food supply are the two major factors predicted to drive the growth of the global agriculture drones market during the forecast years. Additionally, increasing venture funding in the development of drones is also estimated to boost the market growth by 2028.

Opportunities: The growing adoption of information and communication technology (ICT) to solve agricultural issues as well as the major shift of traditional agricultural activities to advanced technologies for better efficiency and productivity are some factors to create abundant growth opportunities for the global agriculture drones market by 2028.

Restraints: Lack of standardization of various communication interfaces and protocols is the major hindering factor for the market growth.

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Covid-19 Impact on the Agriculture Drones Market

The onset of the covid-19 catastrophe has had an adverse effect on the global agriculture drones market mainly due to a prolong dip in the food crop prices and declined demand for agriculture equipment and tools by farmers. However, the slowdown of pandemic has helped the economies return to normalcy which has also surged the requirement for digitization and automation in the agriculture industry. Key market players and argitech companies are now coming up with innovative farming technologies like drones to cater to the growing population's food requirements. Agricultural drones help in real-time decision making in areas like yield monitoring, irrigation scheduling, crop health monitoring, and also improves agricultural productivity and efficiency. These factors are anticipated to revive the market's growth rate post the covid-19 pandemic.

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Segments of the Agriculture Drones Market

The report has fragmented the global agriculture drones market into different segments based on type, application, technology, and regional analysis.

By type, the rotary wing sub-segment is expected to hold a dominant market share and grow at 19.5% CAGR during the analysis timeframe. This immense growth is mainly attributed to the benefits these wings provide like affordability, maneuverability, optimum combination of control, lift, etc. Moreover, the ease of regulating the direction as well as the elevation of rotary drones also make rotary wings the most popular among other types. These factors are predicted to bolster the sub-segment's growth by 2028.
By application, the crop monitoring sub-segment of the global agriculture drones market is projected to have the highest growth rate and garner a revenue of $2,078.1 million during the forecast period. This significant growth is because the use of crop monitoring drones offers greater resolution data of agricultural conditions, quick identification of stressed areas, pest or disease infestations, and actual plant counts. Moreover, drones for crop monitoring can also apply fertilizers up to 5 times faster than conventional equipment. These factors are estimated to propel the sub-segment's growth by 2028.
By technology, the autonomous sub-segment is anticipated to have a prominent growth rate and gather a revenue of $2,244.0 million by 2028. This immense growth is due to the integration of advanced round control systems that reduce the number of operators required to control the fleet with automatic supervision processes. Besides, multiple operations in the agricultural industry like data-collection missions, evaluating crop health, drone mapping, etc. are now conducted autonomously. These factors are expected to uplift the sub-segment's growth by 2028.
By region, the agriculture drones market in the Asia-Pacific region is predicted to have the highest growth rate and generate a revenue of $2,172.4 million during the analysis years. Growing adoption of advanced technologies in the argitech sector and rising cooperation between private and public sectors to augment food are some factors to boost the market growth in the region. Moreover, countries like Taiwan, India, China, Malaysia, and Philippines have aviation regulations and draught guidelines in place which further augment's the market development in the Asia-Pacific region by 2028.

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Key Agriculture Drones Market Players

Some key agriculture drones market players include

1. AgEagle Aerial Systems Inc.

2. DJI

3. AeroVironment, Inc.

4. Delair

5. Microdrones

6. Parrot SA

7. Precisionhawk

8. SenseFly

9. Sentera LLC

10. Yamaha Motor Corporation, and many more.

These players are working on developing strategies such as product development, merger and acquisition, partnerships and collaborations to sustain the market enhancement. – Inquire Here to get access to the Key Manufacturers' Development Strategic Report

For instance, in August 2022, Meraque Services, a Malaysian innovation solution organization, announced its launch of the first ever Malaysian Autonomous Ground Vehicle (AGV) named 'RACE' that will reduce the reliance on manpower and enhance fertilizer spraying consistency in oil palm plantation fields.

The report also summarizes many crucial aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.

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