Agriculture Drones Market - Forecasts from 2024 to 2029

Agriculture Drones Market - Forecasts from 2024 to 2029

The agricultural drone market is evaluated at US$2,708.147 million for the year 2022 growing at a CAGR of 32.87% reaching the market size of US$19,799.8 million by the year 2029.

An agricultural drone, also known as an unmanned aerial vehicle (UAV), aids in crop production and crop growth monitoring. In precision agriculture, drones are utilized for several activities such as soil and crop field assessment, seeding, and pesticide application. The study and implementation of agricultural drone data that results might assist enhance crop production and farm efficiency. Furthermore, drones are progressively being used in agricultural production as part of an effective method of environmentally friendly agricultural management that enables farmland engineers, horticulturists, and farmers to help streamline their processes and gain valuable insights into their crops.

Furthermore, according to United Nations predictions, the global population will reach 9.7 billion by 2050, forcing agricultural consumption to climb by about 70% between 2010 and 2050. With a rising population and the need for surplus food to fulfill rising demands, precision farming and the usage of technology such as drones are becoming more popular throughout the world. Additionally, the increasing investment in the agricultural sector to integrate technological developments in the market will positively contribute to the rise of the agriculture drones segment in the coming years.

MARKET DRIVERS:

Advancements in agriculture drones are anticipated to upsurge the market.

Numerous technical advancements in agriculture have positively improved farming production in recent years. The advancement of technology in components, sensors, and sizes has effectively developed tiny, automated, and unmanned rotorcrafts. This is one of the main aspects expected to fuel market expansion.

Several companies have launched new products and extended their operations by partnering with other firms that have enriched the market segment by implementing innovative technological advancements. For instance, AgEagle Aerial Systems Inc., an industry-leading manufacturer of full-stack drone, sensor, and software solutions, announced the introduction of MicaSense's most innovative drone sensor invention namely, Altum-PT, in November 2021. MicaSense, an AgEagle firm, has built a global reputation for offering several of the drone industry's most dynamic, high-performance multispectral imaging systems, which have proven critical to the agricultural, plant biotechnology, land management, and forestry industries.

Additionally, Poladrone Solutions Sdn. Bhd. underwent a rebranding procedure in July 2022 and began operations under the Aonic name. Poladrone is a drone firm that offers automation and analytics services to clients in a variety of sectors. After establishing Malaysia's largest network of agriculture drone repair centers, the firm extended beyond drones into other services. The corporation further wants to expand its drone capacity; therefore, it has renamed itself Aonic. In Southeast Asia, Aonic Agriculture pioneered level agriculture spraying technologies.
Increasing investments in the agriculture drone market are predicted to uphold the market.

There have been major investments in agricultural technological advancements which have massively propelled the market’s growth. For instance, in January 2022, the Indian Union Agriculture Ministry released financial directives to make this technology cheap by supporting the purchase, hiring, and displaying of agriculture drones. The Sub Mission on Agricultural Mechanisation (SMAM) initiative provides grant financing of up to 100% or Rs 10 lakh for ICAR institutes, Krishi Vigyan Kendras, and State agriculture colleges to acquire drones. It gives 75% grant funding for farmer-producer organizations to acquire drones (FPOs). The financial assistance and awards are valid until March 31, 2023. As a result of these developments, the agricultural drone market is anticipated to rise during the projected period.

In addition, increasing government initiatives for better productivity for agricultural output is anticipated to drive the market growth of spraying agricultural drones. For instance, in February 2022, the Indian Prime minister announced the launch of 100 agricultural drones across the country which includes functions from spraying to monitoring crop health. The recent policy relaxations, incentives, and proposals in the Union budget 2022–23 are anticipated to drive the spraying drones.

North America is anticipated to be the major regional market.

Precision agriculture is becoming widely used, which is fueling a strong rise in the North American agricultural drone market. Drones with sophisticated sensors, cameras, and other imaging technology are being used by farmers to collect data in real time on crop health, soil quality, and insect infestations. Precision farming is made possible by this data, which makes it possible to make more focused and educated decisions about things like pesticide application, fertilization, and irrigation. The use of agriculture drones is mostly driven by the emphasis on streamlining agricultural operations to increase output, decrease resource waste, and improve overall efficiency. The increased use of agricultural drones in North America is also a result of technological developments in drone capabilities and farmers' increasing knowledge of the possible advantages.

Key Developments:

In November 2023, DJI Agriculture, a pioneer in using drone technology to support agricultural innovation, was on display at Hannover's Agritechnica from November 12–18.
In July 2023, with the debut of the P100 Pro, the newest model of XAG Agricultural Drone in Vietnam's Dong Thap region, farms can operate with unprecedented agility and efficiency. With a 50 kg payload, this device offers Vietnamese farmers a fully autonomous, user-friendly alternative, and with its track record of reducing manufacturing costs and climate hazards, the XAG P100 Pro is anticipated to be a popular tool in Vietnam.
In February 2023, the agricultural sciences business FMC Corporation stated that it had started offering drone spray services to Indian farmers. The drone service was approved by the Directorate General of Civil Aviation (DGCA), which is the government entity in charge of regulating air transport services in India. It is anticipated that this would increase farm output while lowering the demand for human work.

Segmentation:

By Type
Fixed Wing
Multi-Rotor
Hybrid
By Application
Spraying
Field Mapping
Crop Scouting
Others
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
United Kingdom
Germany
France
Spain
Others
Middle East and Africa
Saudi Arabia
UAE
Israel
Others
Asia Pacific
China
Japan
India
South Korea
Taiwan
Thailand
Indonesia
Others