Agricultural Drones Market Analysis And Forecast To 2031: By Product (Hardware, Software), By Application (Field Mapping, Precision Agriculture, Crop Scouting, Irrigation, Smart Greenhouse, Others), And Region

Agricultural Drones Market Analysis And Forecast To 2031: By Product (Hardware, Software), By Application (Field Mapping, Precision Agriculture, Crop Scouting, Irrigation, Smart Greenhouse, Others), And Region

The global agricultural drones market was valued at USD 1.3 Billion in 2021 and it is anticipated to grow up to USD 2.1 Billion by 2031, at a CAGR of 4.9% during the forecast period.

A drone is an unmanned aircraft that can be controlled remotely or by an onboard computer. Agricultural drones are a type of drone that is used for agricultural purposes, such as crop mapping, crop spraying, and crop monitoring. Drones can be used to map crops and track their growth. This information can be used to optimize irrigation and fertilizer use. Drones can also be used to spray crops with pesticides or herbicides. This can help save time and money by reducing the need for manual labor. Drones can also be used to monitor crops for signs of pests or disease. This information can be used to take corrective action to prevent crop loss. Agricultural drones offer many potential benefits to farmers. They can help save time and money while improving crop yields.

Global Agricultural Drones Market Scope and Report Structure

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Market Trends and Drivers

The agriculture sector is focused on developing nowadays by using more sophisticated and technologically advanced machinery. The agricultural drone is an autonomous flying cart with the ability to monitor crop development and increase crop yield. Smart sensors and digital imaging capabilities included in the cutting-edge equipment let farmers monitor their fields from a higher vantage point and avoid complications like fungal and insect infestations, irrigation problems, soil changes, and other challenges. Due to the development of sophisticated software solutions for data analytics and field service, favorable government policies and incentives to promote the agricultural sectors, and rising consumer awareness of the advantages of agricultural drones, the market for agricultural drones is anticipated to grow at a significant CAGR over the forecast period.

Market Restraints and Challenges

The lack of skilled agricultural laborers or farmers, a lack of fertilizers, extreme weather conditions and their ineffective use, illnesses, infections, allergies, and other health issues brought on by the use of chemicals such as pesticides, insecticides, fungicides, or animal/insect stings have all been issues that the agricultural industry has faced. Due to farmers' lack of expertise, drone manufacturers find it challenging to contact their potential clients. Additionally, because people lack the skills to use the tools (software programs) that assess and improve efficiency, they find it undesirable to purchase agriculture drones, which hinders the market's growth. Another reason that is impeding market expansion is cyber security worries; if these are resolved, the industry may increase in the near future.

Global Agricultural Drones Market Segmental Overview

The report analyses the global agricultural drones market based on product, application, and region

Global Agricultural Drones Market by Product

Based on product, the market is segmented as hardware, and software. The hardware segment is anticipated to have the greatest market share for farm drones in 2021. The expansion of this market is being driven by an increasing requirement for replacement, upgrade, and modification in drone hardware components to extend drone lifespan and performance as well as to gain a competitive advantage. The firms' increasing focus on modifying and creating drone structures to make them operate in any harsh climatic circumstances is also contributing to the expansion of this market. However, due to developing software technology and the rising software need for improved data analysis in precision agriculture, the software sector is anticipated to grow at the quickest CAGR throughout the projected period.

Global Agricultural Drones Market by Application

Based on application, the market is segmented as field mapping, precision agriculture, crop scouting, irrigation, smart greenhouse, and others. The crop scouting applications are forecast to have significant growth prospects owing to utilization in reducing the fertilizer and pesticide wastage, further increasing the crop yields. Favorable government initiatives in the agricultural sector is expected to be the key growth factors in the Europe agricultural drones market size. Venture capitalists are investing in unmanned aerial vehicle startups which will yield significant return to the investors. Companies such as Syngenta, Mitsui and Monsanto backed startups for improving crop spraying, harvesting and irrigation. DJI elevated USD 75 million during its first drone launch for the agricultural space.

Geographical Analysis of Global Agricultural Drones Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. In 2021, the Asia Pacific agriculture drone-based market is expected to witness significant growth over the forecast period. Countries in the region are constantly increasing investments in R&D, to enhance the adoption of agriculture drones. Furthermore, the increasing venture funding, rendered to the UAV manufacturers in the region, has also contributed to the industry development. Various companies in the region are developing economical and efficient UAVs for broader applications in the agriculture fields. The North American region dominates the global agriculture drone market. Increasing trend of implementing the UAVs from mowing to plowing for enhanced productivity is expected to influence the industry growth. Furthermore, growing awareness for precision agriculture for field mapping, crop scouting has also led the farmers to implement UAVs in farming.

Major Players in the Global Agricultural Drones Market

The key players in the market are AeroVironment, Inc., AgEagle Aerial Systems, Inc, America Robotics, DJI, Israel Aerospace Industries, Microdrones, Parrot Drones, PrecisionHawk, Trimble Inc., and Yamaha Motor Corp., among others.

COVID-19 Impact

The global agriculture drones market has been adversely affected by the covid-19 catastrophe mainly due to a prolong dip in the food crop prices and reduced demand for agriculture equipment and tools by farmers. However, the slowdown of pandemic has helped economies return to normalcy which has also surged the requirement for digitization and automation in the agriculture industry. Innovative farming techniques like drones yield monitoring, crop health monitoring, irrigation scheduling, etc. brought by some key market players and argitech companies is projected to help the market revive its growth rate post the pandemic times

Recent Developments

In May 2022, Adani Defence & Aerospace has entered into agreements for acquiring 50 per cent equity stake in agricultural drone startup General Aeronautics.

In February 2022, Prime Minister Narendra Modi in India virtually launched 100 Made in India agricultural drones across the country, which carried out farm operations in unique simultaneous flights.

In November 2021, DJI, a top producer of agricultural drones, announced the release of two new products, the T40 and T20P, which are designed specifically for agricultural tasks like applying pesticides and fertilizer to fruit plants.

In March 2021, Farmonaut, an Indian start-up that provides satellite-based crop health monitoring, announced its partnership with GarudaUAV, a renowned Indian drone services organization, to promote the drone-based remote sensing technologies for farming and educate the farmers in India.

In February 2021, DroneDeploy declared their partnership with Corteva Agriscience to produce year-round enhanced farming conclusions through its agricultural drone fleets across the globe for accuracy farming applications.

In January 2021, AgEagle Aerial Systems Inc., a US-based manufacturer of drones, announced the purchase of MicaSense, Inc. from Parrot, a European consortium of drone manufacturers, for more than USD 23 million.



Frequently Asked Questions

Q1. How big is the Agricultural Drones Market?

Ans. The global agricultural drones market was valued at USD 1.3 Billion in 2021 and it is anticipated to grow up to USD 2.1 Billion by 2031, at a CAGR of 4.9% during the forecast period.

Q2. What is the Agricultural Drones Market growth rate?

Ans. The growth rate of the Agricultural Drones Market is 4.9%.

Q3. Which region holds a major market share for the market?

Ans. North America holds a major market share of the Agricultural Drones Market in 2021.

Q4. Which segment accounted for the largest Agricultural Drones Market share?

Ans. By end-use, the hospitals segment accounted for the largest Agricultural Drones Market share.

Q5. Who are the key players in the Agricultural Drones Market?

Ans. The global Agricultural Drones Market report includes players such as AeroVironment, Inc., AgEagle Aerial Systems, Inc, America Robotics, DJI, Israel Aerospace Industries, Microdrones, Parrot Drones, PrecisionHawk, Trimble Inc., and Yamaha Motor Corp., among others.

Q6. What are the factors driving the Agricultural Drones Market growth?

Ans. he growing adoption of precision farm techniques to make better agronomic decisions and increasing pressure on global food supply are the two major driving factors for the global agriculture drones market growth during the forecast period. In addition, rising venture funding in the development of drones is also expected to boost the market development by 2031.

Q7. What are the key growth strategies of Agricultural Drones Market players?

Ans. The key growth strategies of Agricultural Drones Market players are product launch and product approval.

Q8. Which region will provide more business opportunities for the Agricultural Drones Market during the forecast period?

Ans. The Asia-Pacific region will provide more business opportunities for the Agricultural Drones Market during the forecast period.