Agriculture Drones Market Growth Drivers | Key Players and Opportunities | Forecast To 2024

Felton, Calif., USA, Sept. 29, 2020 — /EPR Network/ —

The global Agriculture Drones Market research report provides complete insights on industry scope, global trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready, data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

Agriculture drones is use of drones in farming that helps farmers to monitor crop growth and increase crop production. In 2015, the agriculture drone market was valued at USD 193.4 million globally. Agriculture drones are used for collecting high-quality data and its data processing tools are less expensive and easy to use. 

Key Players:

• 3D Robotics Inc.
• AeroVironment, Inc.
• AgEagle Aerial Systems, Inc.
• Agribotix LLC
• SZ DJI Technology Co., Ltd
• DroneDeploy
• Eagle UAV Services LLC 

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Growth Drivers: 

The market share of Hybrid drones is expected to be highest by 2022. The drones takes snapshot of different sectors of field that provides crucial and important data regarding crop, soil and yields in order to assist in crop management. Agriculture drones are emerging as a lucrative sector due to its small size, low cost and easy use.

The UAV-based start-ups are booming due to its application in wide areas. The start-ups are focusing on providing hardware and software and services that will cover about 80% of market. The Universities, technical institute and different organizations are organizing various programs to provide guidance for operating UAV’s, which is expected to propel market. Government regulation and lack of trained pilot in some regions may act as barrier to market growth.

The capability of hybrid UAV’s such as covering long distance will help them to grow with a CAGR of 40% from 2016 to 2024. Compared to manned aircraft, the UAV’s are capable to monitor field areas with ease which will have positive impact on market growth.

Product Outlook (Transaction Revenue, USD Billion, 2014 – 2024):

• Fixed wing
• Rotary blade
• Hybrid

Application Outlook (Transaction Revenue, USD Billion, 2014 – 2024):

• Field mapping
• Variable rate application
• Crop scouting 

Regional Insights: 

Asia Pacific agriculture drone industry will have a compelling growth among different regions over the forecast period. The emerging economies in these regions are constantly investing in R&D to make efficient and advanced drones. Different companies are developing economical and efficient UAV’s that has vast applications in farming sector.

The North American region will dominate the agriculture drone industry. The emerging need to increase productivity and trends of implementing UAV’s is anticipated to influence market growth. The need of precision farming has led farmers to use UAV’s in farming.

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