Agribusiness drones have ended up being tremendously effective in raising ranch yields all over the World. The lucrative opportunities, several startups have cropped up in this domain, developing UAV market solutions tackling the different aspects of farming operations. For instance, Gamaya, a Swiss startup, is centered around helping usefulness and adaptability of little ranches by utilizing progressed planning and indicative frameworks, empowering ranchers to productively deal with their homesteads. Progressions made by these and a lot more such new companies worldwide will make prolific ground for the development of this market. The report expresses that the worldwide market esteem remained at USD 1,021.1 million in 2019.
The global agriculture drone market size is projected to reach $ 3,697.4 Million by 2027, exhibiting a CAGR of 18.14% during the forecast period. The emergence of startups companies specializing in developing unmanned aerial vehicles (UAVs) for agriculture will significantly enhance the potential of the industry.
Skyrocketing Demand for Food Worldwide to Propel the Industry
The most critical factor driving the agriculture drone market growth is the expected levels of demand for food and grains worldwide in the next few decades. According to the UN region, by 2050, the world population will reach 9.1 billion, with sub-Saharan Africa’s population projected to grow the fastest. To meet the food requirements of this surging number of people, the Food and Agriculture Organization estimates that the overall food production will need to rise by 70% and production in developing countries will need to double from the current levels. Agricultural drones will play a central role in supporting the efforts of governments in elevating their farm yields. These UAVs offer wide-running and definitive benefits to ranchers, who can make huge additions from these machines. For instance, drones outfitted with brilliant sensors can empower ranchers to gather precise data on soil conditions. Robots can likewise shower crops with bug sprays and pesticides, in this way limiting ranchers’ contact with these destructive synthetics.
List of Companies Covered in the Agriculture Drone Market:
- Delair Tech SAS (France)
- Parrot Drone (France)
- 3D Robotics (the US)
- AeroVironment Inc. (the US)
- GoPro (the US)
- Drone Deploy (the US)
- Sintera LLC (the US)
- Ag Eagle (the US)
- Trimble Navigation Ltd. (the US)
- Precision Hawk (the US)
Quick Adoption of Advanced Drones for Agriculture to Feed Industry Growth in North America
North America, with an industry size of USD 367.6 million in 2019, is anticipated to lead the agriculture drone industry share during the forecast period. This is mainly attributable to the rapid uptake of advanced UAVs by farmers in the region to increase farm business output. Complementing this is the framing of friendly policies by lawmakers in the region supporting the deployment of commercial and agridrones and small UAVs for agricultural activities.
The Asia Pacific is expected to generate tremendous growth opportunities for this industry as the countries in the region are heavily dependent on agriculture and are making massive investments to make agriculture more technology-driven. In Europe, the ability of farmers to utilize drone technology for better farm yields will augur well for the market.
Leading Companies to Focus on Tapping Innovation Opportunities
Key Players are concentrating all their energies towards exploiting the wide business opportunities for innovation to diversify their portfolios and entrench their position in the market in the process. Moreover, companies are also exploring avenues to enter and expand into developing economies countries, in a bid to broaden their business skylines.