Global Agricultural Drones Market - 2023-2030

Market Overview

The global agricultural drones market reached US$ 2,424.1 million in 2022 and is projected to witness lucrative growth by reaching up to US$ 14,290.2 million by 2030. The market is expected to exhibit a CAGR of 25.1 % during the forecast period (2023-2030).

Agricultural drones market share is predicted to observe prominent growth over the forecast period due to an increase in venture capital for the placement of drones in the farming industry, worldwide. Drones are used in the agricultural sector for aerial surveying, crop spraying, irrigation management, and crop monitoring. Agricultural drones are used in farming to monitor crop growth and increase crop production with the help of innovative sensors. Sensors and digital imaging capabilities can give farmers a more detailed picture of their land when using drone farming. Using an agriculture drone and getting data from it could help improve crop yields and farm efficiency.

Market Dynamics

High crop losses prompting the use of drones for aerial spraying

The American Association for the Advancement of Science (AAAS), Eurek Alert reported that due to warmer climatic conditions where the insects thrive, crop yield losses of wheat, maize, and rice in northern climates are estimated to double. Similar to this, other regions of the world, especially Asian nations, are experiencing significant crop losses that are blamed on insects. Because UAVs are now frequently used to spray insecticides and pesticides throughout the cultivation field, this is also boosting the insecticides and pesticides market while supporting the market for agricultural drones. Agricultural drones shorten the duration and effort of the spraying process.

Lack of standardization hamper the market expansion

Drones are one of the latest tools to have been added to farmers' precision agriculture technology tool kits. Despite the proclaimed benefits, adoption rates of drones are low and knowledge regarding the adoption of drones in agriculture is scarce. Lack of standardization is one of the biggest issues that the agricultural drones market face globally. Agriculture drones are smart agricultural equipment that communicate using a variety of interfaces, technologies, and protocols.

COVID-19 Impact Analysis

The pandemic caused long-term economic harm and is probably going to start a world recession. However, the pandemic has caused a sudden increase in the need for various types of farming machinery, particularly for labor-intensive tasks, in many different countries. For several months, the easy flow of supply chains, yield, and productivity were hampered due to lack of labor during the pandemic. The demand for agricultural drones increased as a result of these factors. The increasing demand for small drones for planting, seeding, and automated fertilizer sprayers have all contributed to market expansion during COVID-19.

Segment Analysis

The global agricultural drones market is segmented based on drone type, component, application, and region.

An increase in innovative product launches boost the camera segment growth

Agricultural drones market is segmented by components into cameras, batteries, navigation systems, and others.

The market value for the camera segment is likely to reach US$ 7,520.3 million in 2030, from its recorded value of US$ 1108.0 million in 2022, growing with a CAGR of 27.3% during the forecast period (2023 to 2030).

Some of the major players in the market launched new products in the market to expand their business. For instance, in March 2022, Plymouth Rock Technologies partnered with Unmanned Systems Technology. The X-LITE is a compact multi-rotor drone platform designed to rapidly deploy high-resolution cameras and lightweight sensors. Using high-resolution cameras, drones detect and quantify crop health problems in the early stage. Drone cameras are also used to protect farm animals by locating missing or injured herd animals in far-off grazing areas.

Geographical Analysis

Growing awareness of precision agriculture in North America boost the market growth

By region, the global agricultural drones market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East and Africa.

The North America agricultural drones market was valued at US$ 613.7 million in 2022 and is projected to grow at a CAGR of 21.1% over the forecast period to reach US$ 2,822.5 million by 2030.

North America is expected to become a leading player in the global agricultural drones market during the forecast period, as geographically, the U.S. is one of the leading countries in employing this technique for enhancing crop productivity. In addition to this, the rising trend of implementation of UAVs for enhanced productivity, and growing awareness of precision agriculture and field mapping are expected to drive the market growth in this region. Thus, the increasing awareness about the benefits of agricultural drones such as increased productivity, increased crop yield, and growth in profitability, is expected to drive the growth of the North America agricultural drones market throughout the projected period.

Competitive Landscape

The major global players include: XAG Co., Ltd., DJI, 3D Robotics, Ageagle LLC, Agribotix LLC, Honeycomb Corporation, Yamaha Motor Co.Ltd, Trimble Navigation Limited, HUVRData LLC, and Precision Drones.

Why Purchase the Report?

• To visualize the global agricultural drones market segmentation based on drone type, component, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of agricultural drones market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global agricultural drones market report would provide approximately 61 tables, 56 figures and 195 pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies