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Agricultural Drones Market : Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation

Published On : 09:40 AM, 14th September, 2017 REP-ID-462 Category: ICT & Electronics

Agricultural Drones Market Overview

Agricultural drones are type of multi rotor drones with additional technologies such as sensors, GPS and digital image recorder. Agricultural drones help farmers to monitor the crop growth and improve over all field production. Further, agricultural drones are provided with controlling devices and can perform various farming operations such seed spraying, crop health monitoring, crop scouting and other farming operation. Agricultural drones are used for precision farming and to assist farmers in order to assure better care of crops. Further, agricultural drones are a perfect solution for crop management due to their capability to monitor crop growth and other changes with crops. Moreover, advanced agricultural drones react according to changing weather conditions, visibility and change in payload by using artificial intelligence. Innovation with agricultural drones just to improve their performance and capability is a major trend.

Market Segmentation

Global agricultural drones market is anticipated to grow at a robust compound annual growth rate (CAGR) of 30.2% over the forecast period i.e. 2017-2024. The global market of agricultural drones stood at revenue around USD 300.5 Million in 2016 and is expected to reach at a valuation about USD 3.7 Billion by the end of forecast period. Further, global agricultural drones market is expected to grow on the back of blooming population coupled with increasing need for precise farming in order to improve overall crop production. Further, implementation of advanced technologies including agricultural robots in crop fields is a major trend.

Agriculture Drones

In terms of region, global agricultural drones market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, North America is the largest market of agricultural drones and is expected to experience remarkable growth during the forecast period. Moreover, high adoption rate of advanced agricultural technologies in this region especially in U.S. is a key factor which is likely to fuel the growth of agricultural drones market in this region. Additionally, increasing awareness towards benefits of precise farming coupled with rising uses of agricultural drones in farming application such as crop scouting, seed spraying and field mapping are also expected to foster the expansion of agricultural drones market in North America region.

Furthermore, Asia Pacific region is envisioned to experience a remarkable growth during the forecast period owing to factors such as growing adoption of advanced technology and increasing investment by several companies in order to develop cost effective agricultural drones for agricultural applications in this region.

Market Segmentation

The global agricultural drones market is further classified on the basis of region as follows:

By Product

  • Fixed Wing Drones
  • Multi Rotor Drones
  • Hybrid Drones
  • Other Multi Rotor Drones ( Micro Drones)

By Components

  • Hardware
    • Batteries
    • Sensors
    • Controller
    • Others (Camera) 
  • Software
    • Data Management
    • Data Analytics
    • Imaging Software
    • Mapping Software

By Application

  • Field Mapping
  • Corp Management
  • Spraying (seed, pesticides)
  • Crop Scouting
  • Livestock Monitoring
  • Others

By Region

Global agricultural drones market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis.
  • Middle East and Africa (GCC, North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Global Agriculture Drones market

Growth Drivers & Challenges

Global market of agricultural drones is primarily driven by rising awareness towards precise farming for its additional benefits. Further, agricultural drones are perfect solution for crop monitoring in very large arable lands. Moreover, other applications of agricultural drones such as crop scouting, field mapping and seed, fertilizer & pesticides spraying are some of the major factors which are making these agricultural drones more acceptable in agricultural sector. Further, these additional benefits of agricultural drones are likely to drive the growth of global agricultural drones market in near future.

Apart from this, technological advancements with agricultural drones in a manner to improve its battery durability, efficiency, controlling are also key factors which are driving the growth of global agricultural drones market. In addition to this, high investment by leading companies to produce cost effective agricultural drones which can be afford by an average farmer is a key factor which is expected to escalate the demand for agricultural drones in near future.   

Furthermore, rising prevalence of fixed wing drones due to their capability to carry extra payload and long land covering is a dynamic factor behind the growth of global agricultural drones market.

However, restriction of use of agricultural drones in countries such as India and Nepal is a major factor hampering the growth of global agricultural drones market. In addition to this, lack of awareness and unavailability of trained drone’s pilots is also expected to restrain the growth of global agricultural drones market.

Key Players

  • AeroVironment Inc.
    • Company Overview
    • Key Product Offerings
    • Business Strategy
    • SWOT Analysis
    • Financial
  • DJI Innovation
  • Israel Aerospace Industries
  • PrecisionHawk
  • Parrot SA
  • Trimble Navigation Ltd.
  • MicroDrones GmBh
  • 3D Robotics
  • Aibotix
  • Dragonfly Innovations
  • Coptercam
  • Cyberhawk Innovation Ltd.

Scope & Context

Overview of the Parent Market

Analyst View

Segmentation

The global agricultural drones market is segmented as follows:

  • By Product Market Size & Y-O-Y Growth Analysis
  • By Application Market Size & Y-O-Y Growth Analysis
  • By Component Market Size & Y-O-Y Growth Analysis
  • By Region Market Size & Y-O-Y Growth Analysis

Market Dynamics

Supply & Demand Risk

Competitive Landscape

Porter’s Five Force Model

Geographical Economic Activity

Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

Recent Trends and Developments

Industry Growth Drivers and Challenges

Key Information for Players to establish themselves in current dynamic environment

 

Key Answers Captured in Report?
Which geography would have better demand for product/services?
What are the strategies adopted by big players in the regional market?
Which country would see the steep rise in CAGR & year-on-year (Y-O-Y) growth?
What is the current & expected market size in next five years?
What is the market feasibility for long term investment?
What opportunity the country would offer for existing and new players in the market?
What is risk involved for suppliers in the geography?
What factors would drive the demand for the product/service in near future?
What is the impact analysis of various factors in the market growth?
What are the recent trends in the regional market and how successful they are?

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