Published: December 2019 | Report Code: SE11784 | Available Format: PDF | Pages: 186
The global agricultural drones market was valued at $1.5 billion in 2018, and is expected to register a CAGR of 25.0% during the forecast period (2019–2024). The market for agricultural drones is primarily driven by the growing demand for agricultural products and relaxation in government norms for drones in major countries, such as the U.S., China, Japan, India, Brazil, and Germany.
Among all regions, North America was the largest market for agricultural drones in 2018, and is also projected to remain as the largest regional market throughout the forecast period. Need to raise agricultural output and declining skilled agricultural laborers have been observed as primary factors for the increasing adoption of agricultural drones in the region.
Factors Governing Agricultural Drones Market
Increasing adoption of drones for crop spraying can be viewed as an emerging trend observed in the market. By deploying drones for crop spraying, farmers can monitor and further reach out to far-fetched locations of their farms, which is considered as a difficult task while using manual methods.
The growing demand for agricultural products, including fruits and vegetables, is one of the major factors driving the growth of the agricultural drones market. According to the United Nations, in 2018, global population was recorded at 7.7 billion and is expected to rise to 9.7 billion by 2050. With the growing population, the demand for food products is bound to increase and thus, global food production must increase in order to cater to this growing demand. To address this, drones are being deployed for agricultural applications. Drones offer several benefits, such as real-time crop monitoring, crop spraying, and soil analysis, to farmers in a cost-effective manner. These enhance crop production, and with growing agricultural consumption across the globe, adoption of drones among the farmers is expected to grow significantly in coming years.
Agricultural Drones Market Segmentation Analysis
Based on aerial platform, the multi-rotor category held the largest share, of around 50%, in the market in 2018. Multi-rotor agricultural drones are most commonly used drones among farmers, primarily due to their low cost and easy to use mechanism. Further, this type of drone is primarily deployed for applications, such as crop spraying, crop management, and health assessment. On the other hand, growing demand for increasing the crop production is driving the adoption of fixed-wing, where these provide long flight time and cover large farm areas when compared to multi-rotor.
Among various sizes, smaller version are the popular choice among farmers, primarily due to their low cost and are easy to control. This category generated the largest revenue in the market in 2018. On the other hand, the market for large size is projected to witness the fastest growth during the forecast period. This can be attributed to their ability to carry heavy payload and high endurance, and cover large field areas.
Based on application, crop spraying was the major revenue generating category in the agricultural drones market in 2018. By deploying drones for crop spraying, farmers can monitor far-fetched agricultural locations on a real-time basis. Also, spraying through drones ensures that only adequate liquid is sprayed, thereby enhancing efficiency and cost effectiveness. Multi-rotor are the preferred choice for crop spraying, owing to their ability to hover over a surface.
|Regional overview||North America, Europe, Asia-Pacific, Latin America, Middle East and Africa|
|Companies covered||SZ DJI Technology Co. Ltd, Parrot Drones SAS, AeroVironment Inc, AgEagle Aerial Systems Inc, XAG Co. Ltd, Yuneec International Co. Ltd, Israel Aerospace Industries Ltd, Trimble Inc, AGCO Corporation, Shandong Joyance Techology Co. Ltd|
Geographical Analysis of Agricultural Drones Market
Globally, North America was the largest market in 2018, accounting for around 40% share. In the same year, over 100 thousand agricultural drones were sold in the region, depicting the increasing adoption of drones for farming in the agriculture sector. According to the United States Department of Agriculture, the U.S. Department of Commerce, agricultural production output of North America was valued at $176.4 billion in 2018. With growing demand for food products in the region, the adoption of drones is increasing for raising crop production.
During the forecast period, the APAC agricultural drones market is expected to witness the fastest growth. According to the United Nations, over 60% of the global population resides in APAC and this percentage is projected to increase during the forecast period. Therefore, the demand for agricultural products is projected to grow significantly, driving the adoption of drones in the agricultural sector in the region.
Competitive Landscape of Agricultural Drones Market
The agricultural drones market is highly competitive in nature due to the presence of major companies, such as SZ DJI Technology Co. Ltd., AeroVironment Ltd., Parrot Drones SAS, Yuneec International, and Drone Deploy Inc. In 2018, the market players witnessed an increase in their sales volume, primarily in North America and APAC. Further, developing countries, such as China, India, Indonesia, and Brazil, are projected to be the primary markets. Thus, competition is projected to intensify in coming years.
Recent Strategic Developments of Major Players
Major players in the global agricultural drones industry are focusing on partnerships and product launches to gain a competitive edge in the market. For instance, in September 2019, drone manufacturing company SZ DJI Technology Co. Ltd. partnered with Delair SAS, a solution provider for visual intelligence and data management, to enhance visual data management and analysis. This collaborative solution would enhance visual data collection and provide more insights on the visual data collected through drones.
Agricultural Drones Market Segmentation
By Aerial Platform
Key Questions Answered in the Report
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