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The agricultural drones market size is forecast to increase by USD 10,547 million, at a CAGR of 32.42% between 2023 and 2028. The growth rate of the market depends on several factors, such as the rise in funding for UAV manufacturers, the growing popularity of precision agriculture, and the global rise in agricultural production. Our report examines historical data from 2018 - 2022, besides analyzing the current and forecasted market scenario.
The North American market is experiencing significant growth driven by the increasing utilization of cloud-based technology, the widespread adoption of smart farming techniques to boost productivity, and the growing demand for food. Aeronavics provides agricultural drones like the Aeronavics Navi mapping and planning drone, capable of carrying payloads up to 2 kg, with a flight time of 30 minutes and a speed of 100 km per hour. AeroVironment Inc. offers agricultural drones such as the Quantix drones, integrated with AV DSS to generate high-resolution maps and images of fields, contributing to the advancement of precision agriculture.
Market Forecast 2024-2028
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Our researchers studied the market research and growth data for years, with 2023 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market.
Agriculture production is used by various countries to drive international trade. In addition, the global population is growing rapidly, especially in countries such as China and India. Furthermore, the growth in emerging economies such as Brazil, Russia, China, and India has also increased agricultural production output worldwide.
Moreover, farmers need to consider various issues during crop production, such as climate change, changing fertilizer needs, and plant diseases. In addition, the use of agricultural drones acts as a solution to such problems. Agricultural drones are fitted with sensors, cameras, and other equipment, which help farmers in crop management by taking snapshots of a vast array of fields and offering precise data about crops and soil for crop management. Hence, such factors are driving the market during the forecast period.
The NDVI refers to a graphical indicator used to analyze remote sensing measurements and identify whether the target being observed contains live green vegetation or not. In addition, the NDVI provides data regarding the stress and health of crops. Furthermore, the red and near-infrared light signals help in differentiating healthy and sick plants.
Moreover, the drones support precision agriculture by providing Normalized Difference Vegetation Index calculation (NDVI) imaging to farmers and other stakeholders in the agricultural field. In addition, NDVI imaging allows farmers to analyze crop health, monitor growth, enable pest and disease detection, and provide other benefits. Therefore, drones enable a better understanding of the agricultural field and crops and facilitate decision-making. Hence, such factors are driving the market during the forecast period.
The shortage of trained pilots and fewer career opportunities are posing a threat to market growth. In addition, the improper use of drones can also result in privacy concerns and public safety. Furthermore, drones usually fly within the airspace of passenger and commercial aircraft, which can lead to accidents and midair collisions.
Thus, it is important to provide proper training for operators using drones. Therefore, for this purpose, governments worldwide have issued rules regarding the need for a license for operating drones to ensure safety. However, the training is expensive and takes a lot of time, which has resulted in many operators being unwilling to join such training sessions. Hence, such factors are hindering the market during the forecast period.
The hardware segment is estimated to witness significant growth during the forecast period. The hardware segment includes the sales of agricultural automated aircraft vehicle systems with additional accessories such as cameras, sprayers, radio receivers, motors, batteries, sensors, and crop scouting equipment. In addition, the demand for hardware components is growing owing to the increasing need for advanced hardware components to build and fly UAVs and the demand for customized drones. Furthermore, customized drones are increasingly being used by individuals in agriculture applications.
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The hardware segment was the largest segment and was valued at USD 608.77 million in 2018. Moreover, other factors that are driving the growth of this segment include a reduction in the cost of sensors and other technological developments in power systems, such as LIDAR, infrared, and ultraviolet cameras. In addition, the miniaturization of electrical components, along with the availability of low-cost, commercial, off-the-shelf components, is also driving developments in hardware components in agricultural automated aircraft vehicle systems. Hence, such factors are fuelling the growth of this segment which in turn drives the market during the forecast period.
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North America is estimated to contribute 34% to the growth by 2027. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. The growing awareness among farmers of precision agriculture, which is used for field mapping and crop scouting, has led to the growing demand for this technology in the agriculture industry. In addition, precision agriculture has considerably improved in the region through new product launches of agricultural automated vehicles, which are witnessing an increase in the region. Moreover, the key trends in the regional market are the increasing awareness of new technology in agricultural sectors and the increased demand for precision farming to improve crop quality. Furthermore, the Precision Agriculture Connection Act in the US is to address the precision farming industry connectivity demands in the United States. In addition, the regulatory body created a task force to study and offer policy recommendations on how to improve broadband internet connectivity in croplands, which will also aid in the operation of agricultural automated aircraft vehicle systems. Hence, such factors are driving the market growth in North America during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AgEagle Aerial Systems Inc: The company offers agricultural drones such as eBee X mapping drones offering 90 minute flights performing professional mapping operations.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
DELAIR SAS, DRONE VOLT, FlyGuys, Harris Aerial, ideaForge Technologies Pvt. Ltd., Kray Technologies, Nextech, Parrot Drones SAS, PrecisionHawk Inc., Sentera Inc., Shenzhen GC electronics Co. Ltd, Skyfront, SZ DJI Technology Co. Ltd., and Vision Aerial Inc.
Technavio market forecast the an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The market analysis and report forecasts market growth by revenue at global, regional & country levels and provides a market growth analysis of the latest trends and growth opportunities from 2018 to 2028.
The Market is witnessing remarkable growth, driven by the pursuit of enhanced crop yields and cost savings in agriculture. Unmanned Aerial Vehicles (UAVs) play a pivotal role in crop monitoring, precision spraying of fertilizers and pesticides, and mapping fields. The environmental benefits, coupled with technological advancements in data analytics, have propelled market expansion. Government support and educational initiatives for drone training further contribute to the industry's success. The introduction of drones with extended flight times and improved sensor capabilities, along with advanced data analysis software, has revolutionized precision agriculture. With applications in both indoor and outdoor farming, including crop spraying and livestock monitoring, agricultural drones are reshaping modern farming practices with innovations like Variable Rate Application (VRA).
Agricultural Drones Market Scope |
|
Report Coverage |
Details |
Page number |
163 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 32.42% |
Market Growth 2024-2028 |
USD 10547 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
31.42 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 34% |
Key countries |
US, Canada, China, UK, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Aeronavics, AeroVironment Inc., AgEagle Aerial Systems Inc., DELAIR SAS, DRONE VOLT, FlyGuys, Harris Aerial, ideaForge Technologies Pvt. Ltd., Kray Technologies, Nextech, Parrot Drones SAS, PrecisionHawk Inc., Sentera Inc., Shenzhen GC electronics Co. Ltd, Skyfront, SZ DJI Technology Co. Ltd., and Vision Aerial Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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