Agriculture Drone Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

Coverage: Agriculture Drone Market covers analysis by Component (Hardware and Software), Type (Fixed Wing and Rotary Wing), Farming Location (Indoor and Outdoor), Type of Produce (Field Crops, Fruit & Vegetable, Dairy & Livestock, and Others), Farm Size (Small & Medium Crops, and Large Crops), Application (Precision Farming, Livestock Monitoring, Smart Greenhouse, and Others), and Geography (North America, Europe, Asia Pacific, and South and Central America)

Publication Month : Apr 2024

  • Report Code : TIPTE100001007
  • Category : Aerospace and Defense
  • Status : Upcoming
  • No. of Pages : 150
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The agriculture drone market was valued at US$ 987.26 million in 2021; it is estimated to grow at a compound annual growth rate (CAGR) of 31.5% during 2022–2028.

Agricultural drones are unmanned aerial vehicles that farmers can use to boost crop production and track crop growth, along with performing other important tasks such as monitoring and mapping. This drone is fitted with advanced sensors and digital imaging capabilities, allowing farmers to inspect the field from distance and identify insect & fungal infestations, and manage irrigation issues, soil variations, and other issues. An increased understanding of precision farming with the need to improve yields favors the agriculture drone market. 

Farmers and crop growers can employ agriculture drones in operations such as land imaging, soil monitoring, crop spraying, sample collection, livestock movement and monitoring, irrigation monitoring, and topography surveying to enhance the efficiency of these tasks. Despite such crucial developments in agricultural technologies, agriculture operations are performed manually, with traditional methods, in many regions of the world.

MARKET DYNAMICS

The growing demand for drones in applications such as aerial imaging, crop monitoring, and crop spraying is one of the major factors driving the agriculture drone market growth. The use of these drones allows users to boost the productivity, efficiency, and profitability of farming operations. Several types of risks and challenges related to supply chains, weather uncertainty, and crop diseases can be reduced by deploying drones in agricultural applications. The need for reducing the environmental impact of pesticides and fertilizers through targeted spraying is another major factor generating the demand for drones in the agricultural sector. The spaying of an entire crop field leads to the wastage of pesticides and fertilizers outside the crop area.

MARKET SCOPE

The "Global Agriculture Drone Market Analysis to 2028" is a specialized and in-depth study with a special focus on market trend analysis. The report aims to provide an overview of the market with a detailed segmentation based on component, type, farming location, type of produce, farm size, and application. The report also provides key market statistics based on the revenue performances of leading agriculture drone market players, and offers key trends and opportunities prevailing in the market.

 

Strategic Insights

MARKET SEGMENTATION

The agriculture drone market is segmented on the basis of component, type, farming location, type of produce, farm size, and application. Based on component, the market is segmented into hardware and software. Based on type, the market is bifurcated into fixed wing and rotary wing. In terms of farming location, the agriculture drone market is bifurcated into indoor and outdoor. The agriculture drone market, by type of produce, the market is segmented into field crops, fruit & vegetables, dairy & livestock, and others. Based on farm size, the market is bifurcated into small & medium farms and large farms. On the basis of application, the agriculture drone market is segmented into precision farming, livestock monitoring, smart greenhouse, and others.

 


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REGIONAL FRAMEWORK

The report provides a detailed overview of the agriculture drone market, including qualitative and quantitative information. It also provides current market size and estimates for the period of 2019–2028 with respect to five major regions, namely, North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South America. The market in each region is further segmented into respective countries and segments. The report covers an analysis and forecast of 18 countries, along with current trends and opportunities prevailing in the region.

North America dominated the agriculture drone market with ~40% share in 2021, followed by Europe. The market dominance of North America is majorly attributed to the presence of a large number of agriculture drone manufacturers in key countries and the increasing popularity of precision agriculture in the region. The adoption of modern automation technologies, such as aerial drones, boosts the efficiencies of farming operations. Further, Asia Pacific is expected to be the fastest growing region in the global agriculture drone market during the forecast period. This is owing to the rising interests of customers across different countries such as India, South Korea, Japan, Malaysia, and Indonesia for the deployment of automated technologies for better farming and irrigation applications. Several government authorities have also been introducing new initiatives to boost the procurement of drone technologies in the agriculture applications. For instance, the government of India has already run an initiative called Kisan Drone under which the government is providing subsidies to the farmers for the promotion of drones in the country’s agriculture sector. Moreover, in August 2022, Indo Wings a drone company in India announced the launch of a new agriculture drone that uses unique CCMS spraying technology to provide 360-degree leaf coverage. Such instances have been catalyzing the agriculture drone market across the region.

agriculture drone market

Source: The Insight Partners Analysis

The report analyzes factors affecting the agriculture drone market from the demand and supply sides. Further, it evaluates market dynamics, i.e., drivers, restraints, opportunities, and future trends, influencing the market progress. The report also provides an exhaustive Porter's Five Forces analysis of the market.

IMPACT OF COVID-19 PANDEMIC

The COVID-19 pandemic has led to a huge disruption across the food & beverages and agriculture sectors. Several agriculture companies have witnessed shortages in terms of laborers, materials, and other resources. The disruption of supply chain also led to the deceleration in the progress of the agriculture industry during the pandemic period. Also, several other challenges such as the temporary shutting down of processing plants, the decline in demand for full-service restaurants and school meals, reduction in direct-to-consumer sales, and larger price fluctuations in commodities prices hampered revenues of the agriculture sector. These factors hindered agricultural production worldwide in FY 2020–2021. As a result, the demand for agritech, including drones, decreased during the COVID-19 pandemic as very few customers were able to invest in the procurement of such modern technologies. Nevertheless, with relaxations in social and commercial restrictions, and the increased costs of laborers and other commodities, the demand for automated technologies began growing gradually in the agriculture sector in 2021.

 

World Geography

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MARKET PLAYERS

The reports highlight key organic and inorganic growth strategies in the agriculture drone market. Organic growth strategies adopted by market players include product launches, product approvals, and patents and events. Further, the inorganic growth strategies witnessed in the market include acquisitions, partnerships, and collaborations. These activities have paved the way for the expansion of businesses and customer bases of market players.

The report also includes the profiles of key companies in the agriculture drone market, focusing on their SWOT analysis and market strategies. The company profile section focuses on leading industry players with information such as components and services offered, financial information for the last 3 years, and key development in the past 5 years. The list of a few companies engaged in the agriculture drone market is given below:

  • AeroVironment, Inc.
  • AgEagle Aerial Systems Inc
  • DJI
  • DroneDeploy
  • PRECISIONHAWK INC
  • Third Element Aviation GmbH
  • Sentera
  • Yamaha Motor Corporation, U.S.A.
  • Trimble Inc.
  • Parrot Drone SAS

The dedicated research and analysis team at The Insight Partner consists of experienced professionals with advanced statistical expertise. The team also offers various customization options in the existing study. 


Market Research

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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Component, Type, Farming Location, Type of Produce, Farm Size, Application, and Geography

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Brazil, Colombia, Mexico

The List of Companies

1. 3D Robotics
2. AeroVironment Inc.
3. DJI
4. PrecisionHawk
5. Trimble
6. Parrot Drones
7. Yamaha Motor Corp.
8. DroneDeploy
9. AgEagle Aerial Systems
10. OPTiM Corp

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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