Agricultural Drones Market Overview:
The increasing global population that is going to reach as much as 10 billion by 2050 is estimated to boost the agriculture demand by 50% as compared to that in 2013, according to the Food and Agriculture Organization of the United Nations (FAO). Furthermore, the organization projects that global GDP of the agriculture industry will increase from $50 trillion in 2005-07 to $126 trillion in 2050. This exponential expansion of the agriculture sector is the main reason for the catapulting sales of agricultural drones worldwide. The future foresees a demand influx in the agricultural drones market that had a market size of $9.8 billion as of 2018. Additionally, owing to their advantages, the demand for agricultural drones is estimated to observe a rise in the cultivation sector with a healthy compound annual growth rate of 8.20% during the forecast period of 2019 to 2025.
The advanced implementation of technology has reflected in the agricultural sector too. Drones have successfully penetrated the cultivation culture of North American countries such as the US, Mexico, and others. The drones are now incorporated with upgraded sensors and imaging capabilities which makes them expensive too. However, the stable economy and possibility of high investments in the region is propelling the sales in the agricultural drones market. North America had the maximum agriculture drones market share of 43% in 2018.
Agricultural Drones Market Outlook:
An agricultural drone or unmanned aerial vehicle (UAV), unlike commercial drones, is applied in crop production for digital imaging, multispectral images, and near-infrared view of crops. Owing to their benefits in the agriculture sector, these drones find a gamut of applications for crop analysis, field mapping, and agricultural photography.
The key application of the agricultural drones is found to be crop scouting. The increasing need for precision farming and intermitted evaluation of crop performance is driving the agricultural drones market in the crop scouting segment. The demand for agricultural drones for crop scouting is projected to observe an increase, and the CAGR is projected to be a substantial 8.50% through to 2025.
Agricultural Drones Market Growth Drivers:
· Crop Losses Due to Insects Driving the Drones Market –
According to the American Association for the Advancement of Science (AAAS), EurekAlert, the crop yield of wheat, maize, and rice losses in northern climates are estimated to double due to warmer climatic conditions in which the insects thrive. Similarly, other parts of the world, particularly Asian countries are suffering from hefty crop losses attributed to insects. While this is flourishing the insecticides market and pesticides market, it is also supporting the agricultural drones market because UAVs are now rampantly utilized for spraying insecticides and pesticides throughout the cultivation field. This reduces the overall spraying time and effort. Moreover, drones also ensure an even distribution of insecticides in the field so that all parts of the field are protected from weeds. Food loss has been a growing concern in the world, and it has become imperative to inculcate technologies in order to avoid the same and ensure a sustainable supply of crop for nourishment purpose. Rather than facing the monetary losses due to crop spoilage due to insects, farms are now investing in agricultural drones for spraying which is boosting the revenues generated in the agricultural drones market.
· Farm Labor Shortage Making Way for Technology-Based Alternatives –
There is a discernible dearth of farm labors worldwide. This labor scarcity is spurring farm owners to invest in technology-alternatives, and one of them is agricultural drones. As mentioned above, this alternative to labor saves a lot of time and imparts good performances. Perceptibly, low-wages and education will further reduce the employment of labors in the agricultural sector which will drive the agricultural drones market.
· Drought Management Using Drones in the Agriculture Industry –
Agricultural drones are incorporated with thermal cameras that can detect leaks from the water distribution systems of a cultivation field. This supervision facility enables rapid detection, and corrective actions can be taken in order to avoid the loss of water. The application of drones in water management is yielding the revenues in the agricultural drones market.
Agricultural Drones Market Trends –
· In October 2017, EnerJex Resources signed a merger agreement with the commercial and agricultural drone company AgEagle Aerial System. This merger is envisioned to provide drone for the fast-growing agricultural industry.
· In December 2017, HandsFree Hectare, successfully planted and harvested the world’s first automated crop without the use of conventional farm equipment. Agricultural drones played a vital role in the project.
· In March 2019, Israel-based organization, Adama ventured with a drone-maker company called Tactical Robotics Ltd. in order to incorporate the practice of using drones in agriculture.
Agricultural Drones Market Challenges –
While agricultural drones market is proving to be lucrative in developed countries such as those in North America and Europe, the market is still limited in the developing economies. This is attributed to the lack of awareness about the technology. Furthermore, digital imaging is gaining grounds worldwide, but the images generated by drones warrant detailed analysis that requires a skilled worker, which is again a factor of market restraint. However, the awareness campaigns and the augmented agricultural yield in the future will demand technological alternatives such as drones which will sustain the global agricultural drones market.
Agricultural Drones Market Key Players Perspective –
The major players crusading for the agricultural drones market share are AeroVironment, Inc., 3D Robotics, SZ DJI Technology Co., Ltd., Aeronavics Ltd, Delair, PrecisionHawk, ZEROTECH, Microdrones, and Ascending technologies (Intel).
Agricultural Drones Market Research Scope:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the agricultural drones market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The agricultural drones market research report also analyses the application for the drones in the agriculture industry based on type that include fixed wings, rotary wings, hybrid wings, and software type. Furthermore, the report digs into the applications in crop analysis, field mapping, and agricultural photography.
Agricultural Drones Market Report: Industry Coverage
This report also documents the product based on components that include flight controllers, propulsion systems, camera system, batteries, and GPS and by battery life that ranges from 30 min, 30-60 min, and 60-100 min to as much as 100 min.
The agricultural drones market report also analyzes the major geographic regions as well as the major countries in these regions. The regions and countries covered in the study include:
Key Questions Addressed in the Agricultural Drones Market Report
Is the market demand for agricultural drones growing? How long will it continue to grow and at what rate?
Which type of home security system presents the major growth opportunities?
Is there a possibility for change in the market structure over time?
Are additional developments needed for the existing product or services offerings or do the existing products meet the customer demands?
Do the key vendors look for partnerships to expand their businesses with respect to geography or product?
What are the short-term, long-term, and medium-term growth drivers for the market?
What are the short-term, medium-term, and long-term challenges for the market?
What are the short-term, medium-term, and long-term opportunities for the market
Who are the top players/companies of the market?
What are the recent innovations in the market?
How many patents have been filed by the leading players?
What are the types of patents filed by the leading players?
What is our Vision 2030 for the agricultural drones market?
A Few Focus Points Of This Research Are Given Below: