The global agriculture drone market is anticipated to grow at a CAGR of around 15.8% during the forecast period. An agriculture drone is a generally unmanned aerial vehicle that is used to optimize operations, monitor crop growth and increases crop productions. The factors attributing to the growth of global agriculture drone markets include growing various drone service providers, increasing funding, real-time farm management, and technological advancement. Other factors such as the increase in precision farming as it has many advantages such as various positing systems and guided vehicles are being developed to create precision farming. Moreover, the rapid growth of the agricultural sector due to more usage of technologically innovative equipment into agricultural practices will be driving the market growth. On the contrary, high initial installation cost, fluctuations in weather conditions and range issues will be hampering the growth of the market. However, with the increasing demand for food, there is constant pressure in increasing agricultural productivity and maintaining good crop health will be creating a significant opportunity for market growth.
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It is estimated that the agriculture drone market may witness a decline during 2019-2020 due to the COVID-19 impact. Government policies have disrupted manufacturing and global supply chains, which has had and will continue to have a significant direct and indirect impact on the agriculture drone’s market. Until the COVID-19 outbreak continues it will be resulting in an extended duration of commercial as well as government restrictions. Therefore, this will make agriculture drone manufacturing companies unable to receive raw materials and components for the production of their products. However, according to professionals of the agriculture drone ecosystem, the market will speed up and grow beginning in 2021 as the pandemic has generated the need for various types of machinery required for farming operations. Lack of labor due to pandemic disrupted the easy flow of supply chains and lower productivity and this has increased the need for agricultural robots, drones, machines. This factor will further support the market growth after the pandemic.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Agriculture Drone Market Report Segment
By Type
- Fixed-Wing
- Multi Rotor
- Hybrid UAVs
By Application
- Spraying
- Field Mapping
- Crop Scouting
- Others
By Component
- Frame
- Controller System
- Propulsion System
- Others
Global Agriculture Drone Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global Agriculture drone market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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