Taking Farming to New Heights: Worldwide Agriculture Drones Market to Soar at 31.5% CAGR by 2028

DUBLIN, Aug. 15, 2023 /PRNewswire/ -- The "Global Agriculture Drones Market by Offering (Hardware, Software and Services), Components, Payload Capacity, Medium-weight drones, Heavy-weight drones, Farming Environment, Application, Farm Produce, Range, Farm Size and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

The agricultural drone market is projected to grow from USD 4.5 Billion in 2023 to USD 17.9 Billion by 2028, at a CAGR of 31.5% during the forecast period.

The surge in demand for agriculture drones equipped with advanced imaging sensors is fueled by the rising awareness of digital agriculture. These drones enable farmers to monitor plant health, detect diseases or pests, and assess crop yields through high-resolution aerial imaging. The data collected helps farmers take timely actions, leading to improved productivity and resource efficiency, including targeted pesticide application and irrigation.

Agriculture drones also offer benefits like reduced manual labor, faster data collection, and increased coverage of large agricultural areas, resulting in cost savings, improved efficiency, and higher crop yields. As more farmers recognize these advantages, the market for agriculture drones is expected to experience significant growth, supporting sustainable farming practices and meeting the global demand for food production.

Hardware Segment Dominance

In 2023, the hardware segment, which includes drones, sensors, and equipment essential for capturing aerial data in agricultural operations, is expected to account for the largest share in the agriculture drone market. Drones with advanced imaging sensors and other components enable farmers to monitor crops, detect pests, and optimize resource management. With the increasing demand for precision agriculture and data-driven farming, reliable and efficient drone hardware becomes crucial for enhancing productivity and improving crop yields. Investments in agriculture drone hardware are expected to drive market growth as farmers recognize the value of these technologies in optimizing farming practices and achieving sustainable agriculture goals.

Camera Segment Leadership

The camera segment is projected to dominate the market share in the component segment during the forecast period, accounting for the largest share by 2028. Advanced imaging sensors, including multispectral and thermal cameras, provide valuable insights into plant health, disease detection, and crop monitoring. The increasing demand for accurate and detailed aerial imagery in precision agriculture is driving the prominence of the camera segment. By capturing and analyzing visual data from drones, farmers can make informed decisions regarding irrigation, pesticide application, and overall crop management. The camera segment's significance reflects the growing importance of visual data acquisition in driving the adoption of agriculture drones for optimized farming practices. Cameras play a vital role in advancing digital agriculture and improving crop productivity, enabling precise and actionable information.

North America's Significant Growth

North America is expected to grow significantly during the forecast period, driven by factors such as advanced agricultural practices, high adoption of precision farming, and a strong presence of drone manufacturers. The region's farmers increasingly recognize the benefits of agriculture drones in optimizing crop monitoring, yield estimation, and pest management. North America's well-established regulatory framework and infrastructure support the safe operation of drones in agriculture. With a focus on enhancing productivity, ensuring sustainability, and meeting the growing demand for food production, North America emerges as a key growth region in the agriculture drone market.

Conclusion

The agricultural drone market is set for substantial growth, propelled by the adoption of digital agriculture practices. Drones equipped with advanced imaging sensors offer valuable data for crop management, leading to increased productivity and resource efficiency. As precision farming becomes more crucial in meeting global food demand, the agriculture drone market is expected to witness significant expansion, transforming farming practices and supporting sustainable agriculture.

Premium Insights

• Increasing Demand for High-Quality Crop Yield to Drive Market
• North America to Account for Largest Market Share During Forecast Period
• Hardware Segment and China to Account for Significant Share in 2023 Vs. 2028
• Precision Farming Segment to Lead Market in 2023 in Terms of Value
• Hardware Segment to Account for Largest Share During Forecast Period in Terms of Value
• North America to be Dominant Market During Forecast Period

Market Dynamics

Drivers

• Demand for Optimization of Farm Management Using Agricultural Drones
• Favorable Government Policies, Subsidies, and Regulations to Drive Usage of Digital Agriculture Tools
• Availability of Software Solutions for Field Surveys and Data Analytics
• Growth in Concerns Regarding Ecosystem Change

Restraints

• Security and Safety Concerns Associated with Civil and Commercial Application of Drones
• Large Number of Fragmented Lands in Developing Countries
• Lack of Technical Knowledge and Training Activities

Opportunities

• Exemptions by Us Faa for Use of Agriculture Drones
• High Adoption of Aerial Data Collection Tools in Agriculture
• Increase in Use of Agricultural-Based Software Via Smartphones
• Early Detection of Crop Diseases and Ease of Farm Management

Challenges

• Management of Data Collected by Agriculture Drones
• Standardization of Communication Interfaces and Protocols for Precision Agriculture
• Lack of Technical Knowledge Among Farmers
• Scarcity of Trained Pilots
• High Cost of Drones to Impact Adoption Among Small-Scale Farmers

Competitive Landscape

Key Players

• Dji
• Precisionhawk
• Trimble Inc.
• Parrot Drone Sas
• Bayer Ag
• Yamaha Motor Co., Ltd
• Ageagle Aerial Systems Inc.
• Dronedeploy
• Autelrobotics
• Sentera
• Optim Corp.
• Microdrones
• Aerialtronics
• Delair
• Xag Co., Ltd.

Other Players

• Skydio, Inc.
• Agrodrone Ai
• Aries Solutions Pvt Ltd
• Wingtra
• Lockheed Martin Corp.
• Gamaya
• Atmos Uav
• Skyx
• Slantrange, Inc.
• Nileworks

For more information about this report visit https://www.researchandmarkets.com/r/drkdv6

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