The Global Agriculture Drone Market is forecast to reach USD 6.52 Billion by 2026, according to a new report by Reports and Data. Agriculture drones are unmanned aerial vehicles (UAV) primarily used to perform the survey of farms. This technology aids the agricultural decision in collecting information, storing it for future use, combining it, and using for analysis. They also help in maintaining the precision of the level of insecticides and pesticides used on the crops. They also monitor the irrigation system and the performance of the labor.
Factors boosting the market growth are the high awareness about agricultural drones, investment into venture funding, and advancement in farming technology that boosts productivity. Increase in demand for high yield and initiatives taken by the government to support the agricultural sector will encourage the growth of the market.
Drones provide quick information, have a low cost of operations, and can readily access to areas that are hard to reach by cars and boats. However, drones are limited by weather conditions such as the speed of the wind.
However, lack of trained pilots and air traffic management are hampering the growth of the market. Revolution of the farming sector from traditional to digitalization will increase the demand for software used to design and maintain drones, especially in emerging nations such as China and India.
Leading Players Profiled in the Report Include:
Honeycomb Corporation, Parrot SA, Ageagle LLC, DJI Technology, AeroVironment Inc., Yamaha Motor Co. Ltd., Ursula Agriculture, Delair-Tech SAS, Trimble Navigation Limited and Precisionhawk, among others.
Further key findings from the report suggest
- Drones provide quick information, have a low cost of operations, and can readily access to areas that are hard to reach by cars and boats.
- Hardware segment held a market share of 53% in the year 2018. Amazon on June 5, 2019, announced to release its latest hybrid drone that uses a combination of thermal cameras, depth cameras and sonar to detect any hazards.
- The onboard cameras can identify the obstacle and navigate around them with the help of machine learning.
- Software and services segment under component is segmented into imaging software, data management software, data analytics software, and others. It is anticipated to have the highest CAGR of 23.3% during the forecast period.
- Increase in development and widespread use of drone technology, availability of high-resolution images used for various tasks such as maintenance, surveying, mapping, and monitoring is boosting the market growth.
- Various types of software are available that offer intelligent data analysis solutions to make unstructured drone data “actionable” and gain meaningful insights without time-consuming manual analytics.
- The navigation system has a CAGR of 22.6% during the forecast period. A drone with a well-equipped GPS, high imaging camera, and an autopilot system provides plenty of aerial shots.
- Field Mapping instantly captures a 2D, low-resolution field map as the drone flies so that farmers can make crop management decisions on the spot. This has made it easier for farmers to quickly identify crop stress and stomp out problem areas before they spread.
- Field mapping held the largest market share of 21% in the year 2018, with a CAGR of 23.3% during the forecast period.
- North America held the largest market share of 25% in the year 2018. This growth is mainly due to the exemption from the Federal Aviation Administration (FAA) under the part 107 rule, which is encouraging the adoption of the drone in the agricultural sector. The exemption is attracting increased investment from venture capitalists in the market.
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For the purpose of this report, Reports and Data have segmented into the global agriculture drone market on the basis of Component, Integrant, Application, and Region:
Component Outlook (Volume, Thousand Units; Revenue, USD Billion; 2016-2026)
- Software and Services
Integrant Outlook (Volume, Thousand Units; Revenue, USD Billion; 2016-2026)
- Controller System
- Propulsion System
- Camera System
- Navigation System
Application Outlook (Volume, Thousand Units; Revenue, USD Billion; 2016-2026)
- Crop Scouting
- Field Mapping
- Livestock Monitoring
- Smart Greenhouse
- Crop Spraying
Regional Outlook (Volume, Thousand Units; Revenue, USD Billion; 2016-2026)
- North America
- Asia Pacific
- Latin America
Table of contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
Chapter 4. Agriculture Drones Market Segmentation & Impact Analysis
4.1. Agriculture Drones Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
188.8.131.52. High demand of food owing to the increase in population
184.108.40.206. Increase in investment in research of new agricultural drones
220.127.116.11. Ease in the survey of the field
18.104.22.168. Rise in demand of drones in emerging nations
4.2.3. Market restraints analysis
22.214.171.124. Safety concerns associated with drones
126.96.36.199. Dearth of knowledge among farmers
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
Chapter 10. Company Profiles
10.1. Honeycomb Corporation
10.1.1. Company Overview
10.1.2. Financial Performance
10.1.3. Technology Insights
10.1.4. Strategic Initiatives
10.2. Parrot SA
10.2.1. Company Overview
10.2.2. Financial Performance
10.2.3. Technology Insights
10.2.4. Strategic Initiatives
10.3. Ageagle LLC
10.3.1. Company Overview
10.3.2. Financial Performance
10.3.3. Technology Insights
10.3.4. Strategic Initiatives
10.4. DJI Technology
10.4.1. Company Overview
10.4.2. Financial Performance
10.4.3. Technology Insights
10.4.4. Strategic Initiatives
10.5. AeroVironment Inc.
10.5.1. Company Overview
10.5.2. Financial Performance
10.5.3. Technology Insights
10.5.4. Strategic Initiatives
10.6. Yamaha Motor Co. Ltd.
10.6.1. Company Overview
10.6.2. Financial Performance
10.6.3. Technology Insights
10.6.4. Strategic Initiatives
10.7. Ursula Agriculture
10.7.1. Company Overview
10.7.2. Financial Performance
10.7.3. Technology Insights
10.7.4. Strategic Initiatives
10.8. Delair-Tech SAS
10.8.1. Company Overview
10.8.2. Financial Performance
10.8.3. Technology Insights
10.8.4. Strategic Initiatives
10.9. Trimble Navigation Limited
10.9.1. Company Overview
10.9.2. Financial Performance
10.9.3. Technology Insights
10.9.4. Strategic Initiatives
10.10.1. Company Overview
10.10.2. Financial Performance
10.10.3. Technology Insights
10.10.4. Strategic Initiatives
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