Agricultural Drones Market - Global Industry Analysis, Share, Growth, Trends, and Forecast 2017 - 2024

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Global Agricultural Drones Market share to reach
1bn by 2024 Global Market Insights Inc.
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Key Insights from Agricultural Drones Market

• Agricultural Drones Market size is set to surpass
  USD 1 billion by 2024. Global shipments will
  exceed 200 thousand units by 2024.
• Growing awareness regarding UAV implementation
  benefits among farmers will support the
  agricultural drones market share from 2017 to
  2024. Increasing technological advancements to
  enhance quality farming techniques will further
  drive the industry demand over the forecast
  timeline. Increasing automation due to lack of
  skilled resources and labor crisis will fuel the
  industry. Favorable government initiatives across
  the agricultural sector will allow large and
  small operations to aid in effective farming
  practices.
• The agricultural drones market is emerging as a
  profitable industry under the commercial sector.
  These products assist farmers in providing soil
  and crop data by taking pictures for assisting in
  crop management and adding components such as
  navigation system, GPS, and GIS benefit UAVs for
  improved maneuvering.

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Continued...

• UVAs incorporated with infrared, hyperspectral,
  and multispectral cameras provide the required
  vision to the farmers, thus shielding the crops
  and farm. These images provide the necessary data
  and support the decision-making process. Images
  captured by multispectral cameras serve as an
  effective tool for plant health and soil
  evaluation analysis. Identification of weeds,
  pests, pesticide usage optimization, determining
  spacing issues, visual inspection of crops and
  fence are among the major benefits.
• UAV LiDAR and photogrammetry imaging applications
  are potential opportunities for the agricultural
  drones market size. UAVs mounted with lidar
  drones in community projects will help in
  providing aerial view and building topographic
  maps.
• Stringent government regulations and patents
  involved with advanced technologies will hamper
  the agricultural drones market size from 2017 to
  2024. The products are required to avoid
  emergency conditions or accidents in the farms.
  Thus, lack of trained pilots and safety concerns
  associated with these devices are major
  challenges for the industry.

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Europe Agricultural Drones Market Size, by
Product, 2016 2024 ( Mn)
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Continued...

• 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.
• Companies operating in the agricultural drones
  market include AeroVironment, Trimble Navigation
  Ltd., DJI Technology, PrecisionHawk, 3D Robotics,
  and Parrot SA. Industry participants are focusing
  on strategic acquisitions in order to consolidate
  share and expand regional and global presence.

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360 Analysis

• Application Trends
• Field mapping applications dominated the global
  agricultural drones market size. Benefits such as
  increasing yield benefits by analysing and
  monitoring the crops are expected to support the
  segment growth over the forecast timeline. Crop
  scouting is expected to witness significant
  growth owing to its accuracy of fertilizer
  spraying.
• Regional Trends
• U.S. agricultural drones market size was over 30
  of the global revenue in 2016. Rising trend of
  implementation of UAVs for enhanced productivity
  and increasing awareness of precision agriculture
  for crop scouting and field mapping is expected
  to drive the industry growth in this region. APAC
  agricultural drones market will benefit from
  growing adoption and technological developments.
• Competitive Market Share
• AeroVironment, DJI, DroneDeploy, GoPro,
  PrecisionHawk, and Trimble Navigation are some of
  the major companies operating in the agricultural
  drones market. The companies are focusing on
  having strategic acquisition in order to gain
  competitive market share in the industry.
  Corporate investors such as Monsanto, Syngenta,
  and Mitsui, backed emerging start-ups for
  improving harvesting, crop spraying, and
  irrigation.

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