New York, July 17, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Agriculture Drones Market by Offering, Components, Payload Capacity, Medium-weight drones, Heavy-weight drones, Farming Environment, Application, Farm Produce, Range, Farm Size and Region – Global Forecast to 2028” –
The data collected helps farmers take timely actions, leading to improved productivity and resource efficiency, including targeted pesticide application and irrigation. Agriculture drones also offer benefits like reduced manual labor, faster data collection, and increased coverage of large agricultural areas, resulting in cost savings, improved efficiency, and higher crop yields. As more farmers recognize these advantages, the market for agriculture drones is expected to experience significant growth, supporting sustainable farming practices and meeting the global demand for food production.
The Hardware segment is expected to account for the largest share in 2023.
Hardware is expected to account for a larger share of the agriculture drone market in 2023.It includes drones, sensors, and equipment essential for capturing aerial data in agricultural operations.
Drones with advanced imaging sensors and other components enable farmers to monitor crops, detect pests, and optimize resource management.With the increasing demand for precision agriculture and data-driven farming, reliable and efficient drone hardware becomes crucial for enhancing productivity and improving crop yields.
Investments in agriculture drone hardware are expected to drive market growth as farmers recognize the value of these technologies in optimizing farming practices and achieving sustainable agriculture goals.
The Camera segment is projected to dominate the market share in the component segment during the forecast period.
The camera systems are likely to account for the largest share of the agriculture drone market by 2028.By enabling high-resolution imaging and data collection of crops and fields.
Advanced imaging sensors, including multispectral and thermal cameras, provide valuable insights into plant health, disease detection, and crop monitoring.The increasing demand for accurate and detailed aerial imagery in precision agriculture is driving the dominance of the camera segment.
By capturing and analyzing visual data from drones, farmers can make informed decisions regarding irrigation, pesticide application, and overall crop management.The camera segment’s prominence reflects the growing importance of visual data acquisition in driving the adoption of agriculture drones for optimized farming practices.
With the ability to capture precise and actionable information, cameras contribute significantly to the advancement of digital agriculture and the improvement of crop productivity. The hyperspectral camera, for example, is most adapted to analyze weed encroachment in farms, whereas the LIDAR camera is best suited to disclose agricultural slopes and sun exposure. During the projected period, the market for navigation systems is predicted to develop at the fastest CAGR.
North America to grow significantly during the forecast period
North America is likely to grow significantly during the forecast period.Factors such as advanced agricultural practices, high adoption of precision farming, and a strong presence of drone manufacturers contribute to this growth.
The region’s farmers are increasingly recognizing the benefits of agriculture drones in optimizing crop monitoring, yield estimation, and pest management.North America’s well-established regulatory framework and infrastructure support the safe operation of drones in agriculture.
With a focus on enhancing productivity, ensuring sustainability, and meeting the growing demand for food production, North America emerges as a key growth region in the agriculture drone market.This is attributed to the exemption from the FAA under the part 107 rule, which is leading to the high adoption of drones in agricultural practices.
Also, the increased demand for agriculture drones for agriculture applications has attracted more venture capitalists to invest in the market. Many UAV manufacturers have raised funds through venture firms such as Qualcomm Ventures, Andreessen Horowitz, Intel Capital, Felicis Venture, and Google Ventures.
The break-up of the profile of primary participants in the agricultural drones market:
• By Company Type: Tier 1 – 30%, Tier 2 – 45%, and Tier 3 – 25%
• By Designation: CXOs – 25%, Manager– 50%, Executives-25%
• By Region: Asia Pacific – 40%, Europe – 25%, North America – 25%, Rest of the world– 10%
Prominent companies include DJI (China), PrecisionHawk (US), Trimble Inc. (US), Parrot Drones (France), AeroVironment, Inc. (US), Yamaha Motor Co., Ltd. (Japan), AgEagle Aerial Systems, Inc. (US), DroneDeploy (US), 3DR (US), and Sentera Inc. (US) among others.
This research report categorizes the Agricultural drones market by Offering (Hardware, Software and Services, Others), Components (Frames, Controller Systems, Propulsion Systems, Camera Systems, Navigation Systems, Batteries, Others), Payload Capacity (Lightweight drones (up to 2 kg), Medium-weight drones (2 to 10 kg), Heavy-weight drones (Above 10 kg – up to 25 kg)), Farming Environment, Application, Farm Produce, Range (Qualitative), Farm Size (Qualitative) and Region.The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the Agricultural drones market.
A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, and services; key strategies; Contracts, partnerships, and agreements. new product & service launches, mergers and acquisitions, and recent developments associated with the Agricultural drones market. Competitive analysis of upcoming startups in the Agricultural drones market ecosystem is covered in this report.
Reasons to buy this report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall agricultural drones market and the subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
Analysis of key drivers (Pressure on global food supply owing to growing world population,Increase in venture funding for development of agriculture drones ), restraints (Security and safety concerns associated with civil and commercial application of drones, Air traffic management of commercial drones), opportunities (Exemptions by US Federal Aviation Administration for use of agriculture drones and Rising demand for drones in APAC countries ), challenges (Management of data collected by agriculture drones and Standardization of communication interfaces and protocols for precision agriculture ) influencing the growth of the agriculture drones market.
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the agriculture drones market.
• Market Development: Comprehensive information about lucrative markets – the report analyses the agriculture drones market across varied regions.
• Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the agriculture drones market.
• Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like DJI (China), PrecisionHawk (US), Trimble Inc. (US), Parrot Drones (France), AeroVironment, Inc. (US), Yamaha Motor Co., Ltd. (Japan), AgEagle Aerial Systems, Inc. (US), DroneDeploy (US), 3DR (US), and Sentera Inc. (US) among others in the agricultural drones market strategies. The report also helps stakeholders understand the agricultural drones market and provides them information on key market drivers, restraints, challenges, and opportunities.
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