Meticulous Research®– leading global market research company published a research report titled “Agriculture Drones Market by Type (Rotary Blade, Fixed Wing, Hybrid), Component (Hardware, Software), Application (Precision Agriculture, Livestock Monitoring, Smart Greenhouse, Irrigation, Precision Fish Farming), &Geography - Forecast to 2025”
According to this latest publication from Meticulous Research®, the global agriculture drones market is expected to grow at a CAGR of 31.1% from 2019 to reach $5.19 billion by 2025. The growth in agriculture drones market is mainly attributed to the growing global population and rising pressure on the global food supply, rising venture funding for the development of agriculture drones, growing e-agriculture or information and communication technologies (ICTs) in agriculture, rising automation in agriculture, growing emphasis on enhancing agriculture efficiency, and rising need for water conservation across the globe. In addition, emerging economies, such as Asia Pacific and Latin America, provides further revenue growth opportunities for stakeholders in this market. However, technical limitations of drones are likely to hinder the market growth to some extent.
The global agriculture drones market study presents historical market data in terms of values (2017 and 2018), estimated current data (2019), and forecasts for 2025-by product (hardware (rotary blade, fixed wing, and hybrid) and software), application (precision agriculture, livestock monitoring, smart greenhouse, irrigation, precision fish farming, and other application), and geography. The study also evaluates industry competitors and analyzes the market at a regional and country level.
Based on product type, hardware segment is estimated to command the largest share of the overall agriculture drones market in 2019. The large share of this segment is attributed to its growing need for replacement, upgradation, and modification in the drone hardware components to increase the lifespan and performance of drones as well as to gain competitive advantage. The rotary blade segment is estimated to command the largest share of the overall agriculture drones hardware market in 2019. The major share of this market is estimated to command the largest share of the global agriculture drones market in 2019, due to its greater maneuverability and compact design, easy to use nature, higher payload capacity, and comparatively lower price than the other types of drones.
Based on application, the precision agriculture segment is estimated to hold the largest share of the overall agriculture drones market in 2019. However, irrigation application segment is projected to grow with the fastest CAGR during the forecast period. The growth of this segment is mainly attributed to growing global demand of drones in water and drought management. Drones with thermal cameras can detect leaks from the water distribution systems of a cultivated field, which helps to take corrective actions in order to avoid the water loss. Drone irrigation can reduce water consumption by 90% and increase productivity to 50%.
Geographically, Asia Pacific region is expected to witness the fastest CAGR during the forecast period. The growth of this market is primarily attributed to rapid growth in the population and surging food demand, accelerated economic growth of countries in the region, rising technological advancements in the agriculture sector, and government funding for precision farming.
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The global agriculture drones market is fragmented with the presence of many regional and local players. The key players operating in the global agriculture drones market are SZ DJI Technology Co., Ltd., (China), AeroVironment, Inc. (U.S.), Israel Aerospace Industries Ltd. (Israel), PrecisionHawk Inc. (U.S.), Trimble Inc. (U.S.), Parrot S.A. (France), Microdrones GmbH (Germany), AgEagle Aerial Systems Inc. (U.S.), American Robotics, Inc. (U.S.), Yamaha Motor Co., Ltd. (Japan), and Sentera, Inc. (U.S.), among others.
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