July 6, 2023 12:30 PM | 3 min read
DUBLIN , July 6, 2023 /PRNewswire/ — The “Agriculture Drones: Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
The global market for Agriculture Drones estimated at US$2.6 Billion in the year 2022, is projected to reach a revised size of US$20 Billion by 2030, growing at a CAGR of 29% over the analysis period 2022-2030.
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Hardware, one of the segments analyzed in the report, is projected to record 27.5% CAGR and reach US$13.6 Billion by the end of the analysis period.
Taking into account the ongoing post pandemic recovery, growth in the Software segment is readjusted to a revised 32.5% CAGR for the next 8-year period.
The U.S. Market is Estimated at $862 Million, While China is Forecast to Grow at 34.3% CAGR
The Agriculture Drones market in the U.S. is estimated at US$862 Million in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$4.1 Billion by the year 2030 trailing a CAGR of 34.3% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 22.8% and 27.7% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 26% CAGR.
Select Competitors (Total 44 Featured) –
- AeroVironment, Inc.
- AgEagle Aerial Systems Incorporated
- Delair Technologies Inc.
- Parrot SA
- SZ DJI Technology Co., Ltd.
- Trimble Navigation
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Need to Increase Agriculture Production Amid Food Security Concerns Drives Focus on Farm Automation
- Agriculture as a Percentage of GDP by Region (2018)
- Global Population (in 000s) by Region for the Years 2018, 2025, 2035 & 2045
- Climate Change and its Negative Impact On Agriculture Increases Reliance On Advanced Farming Systems & Technologies to Sustain Crop Production: Average Global Surface Temperature (In Degrees Fahrenheit) For The Years 1940, 2000 And 2020
- Agriculture Industry Embraces Drones to Intensify Production
- Drones Emerge to Revolutionize Farming in the 21st Century
- US Occupies Major Revenue Share
- Recent Market Activity
- Agriculture Drones – Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Growing Focus on Precision Agriculture Spurs Demand for Drones
- Shrinking Arable Land and the Need to Improve Agricultural Efficiency and Yield Raises Significance of Drones
- World Arable Land: 1961-2050
- Continuing Advances Enable Agricultural Drones to Undergo Major Refinements
- AI Presents Perfect Match for Drones to Enable High-Performance Agricultural Drones
- Companies Gear Up to Tap Agricultural Drone Demand for Field Mapping Application
- Agricultural Drones Powered by Multispectral Imaging Transform Farming Practices
- Rise in Popularity of Multi-Rotor Drones
- Software Enhancements to Drive Growth
- Incorporation of Advanced Sensors Makes Agricultural Drones More Efficient
- Rise in Use of Drones for Spraying Pesticides Revolutionizes Agricultural Sector
- Rise in Significance of Drones in Controlling Invasive Plants
- Drones Find Use in Dispensing Beneficial Pest-Eating Insects
- Drone Swarms Technology for Spraying of Large Areas
- Developing Economies Exhibit High Interest in Using Drones for Agricultural Spraying Purposes
- Legislative Policies Continue to Present Challenges for Drone Use in Spraying Applications
- High Cost of Drones & Shortage of Trained Pilots Remain Major Issue
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/f86rrz
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