Agricultural Drone Market to Reach 9.9 Billion by 2028 at a CAGR of 28.63% Owing to Technologically Advanced Farming Techniques Used Globally

Vantage Market Research

Dec 07, 2021

The Agriculture Drone Market is expected to grow from USD 1.32 Billion in 2020 to USD 9.89 Billion by 2028 at a CAGR of 28.63% from 2020 to 2028.

Agriculture Drones are spray drones enhanced unmanned aerial vehicles designed to optimize agriculture operational efficiency, crop production, and monitoring over crop growth. Further, drone sensors and digital imaging capabilities are intended to supply farmers with a richer picture of their fields. Furthermore, sudden climate changes globally are creating new layers of complexity within the agriculture industry, which boosts the necessity for advanced solutions like agriculture drones to enhance crop yield and firm efficiency. Moreover, the aerial view provided by drone farming can reveal various issues like soil variation, irrigation problems, and fungal infestations act as a collection of instructions utilized in agriculture to survey crops to rapidly identify problems.

Key Findings:

  • In March 2020, AeroVironment, Inc. entered into a partnership with Draganfly (Canada) for Draganfly’s distribution of AeroVironment’s Quantix Mapper systems to commercial markets worldwide. The agreement also included the continuation of other contract engineering services provided by Draganfly to AeroVironment.

  • In September 2019, DJI launched P4 Multispectral, the world’s first fully-integrated multispectral imaging drone designed for precision agriculture and environmental management. P4 Multispectral combines data from separate sensors to live the health of crops, from individual plants to entire fields, as detect the presence of weeds, insects, and a spread of soil conditions.

  • In March 2019, DJI introduced a replacement software tool—DJI Terra—that transforms drone data into digital 3D models and maps for straightforward analysis and decision-making. The tool enables businesses and organizations using DJI drone technology to capture, visualize, and analyze aerial images for a good kind of applications across the general public safety, construction, infrastructure, agriculture, and film industries.

Some of the key players in the Agricultural Drone Market includes DJI (China), Precision Hawk (US), Trimble Inc. (US), 3DR (US), AeroVironment, Inc. (US), Yamaha Motor Corp. (Japan), Parrot (France), Drone Deploy (US), Ag Eagle Aerial Systems, Inc. (US), and OPTiM Corp. (Japan) are some of the major players. Major innovators in this market are Sentera Inc. (US), Slant Range (US), Delair (France), and Nileworks Inc. (Japan).

The Agriculture Drones Market share is predicted to witness notable growth during the forecast period, attributable to rising venture funding for the deployment of drones within the agriculture industry, globally. Furthermore, the surge in the adoption of precision farming solutions drives the growth of the market during the forecast period. Moreover, the surge in demand for a discount in cost related to human error is anticipated to propel the Agriculture Drones Market.

However, the rise in drone-related government regulations globally is predicted to restrain the market growth. Further, the surge in presence of automation in the farming and agriculture industries presents ample growth opportunities for drone applications. Additionally, exemptions by the U.S. federal agencies within the agriculture sector is anticipated to supply a lucrative opportunity for the growth of the agriculture drones market forecast.

The emergence of COVID-19 has immensely affected the rate of growth of the market in 2020. Further, the market is estimated to witness relatively slow growth till the top of 2021, due to the government regulations and other restrictions in place globally.

The market was primarily hit by several obstacles created amid the COVID-19 pandemic within the industry including the supply of raw materials, skilled workforce and safety measures, deliverables, contractual obligations, and project delays or cancellations. Consequently, it resulted in decreased demand for global agriculture drones.

Agricultural Drone Market by Offering (Hardware, Software and Services), by Component (Cameras, Batteries, Navigation Systems, Others), by Application (Precision Agriculture, Livestock Monitoring, Smart Greenhouse, Irrigation, Precision Fish Farming, Others), , by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)