Agriculture Drone Market Size, and Forecast Industry Share By 2029
The global agriculture drone market size is projected to reach USD 3,697.4 million by 2027, exhibiting a CAGR of 18.14% during the forecast period. Emergence of startups specializing in developing unmanned aerial vehicles (UAVs) for agriculture will significantly enhance the potential of the market. Fortune Business Insights™ shares this observation in its report, titled “Agriculture Drone Market Forecast, 2020-2027”.
List of Key Players Covered in the Agriculture Drone Market Report:
- Delair Tech SAS
- Parrot Drone
- 3D Robotics
- AeroVironment Inc.
- GoPro
- Drone Deploy
- Sintera LLC
- Ag Eagle
- Trimble Navigation Ltd.
- Precision Hawk
- DJI
Market Driver
Skyrocketing Demand for Food Worldwide to Propel the Market
The expected increase in global demand for food and grains in the coming decades is a crucial factor driving the growth of the agriculture drone market. According to the United Nations, the world population is projected to reach 9.1 billion by 2050, with sub-Saharan Africa experiencing the fastest growth. To meet the food requirements of this growing population, the Food and Agriculture Organization (FAO) estimates that overall food production needs to rise by 70%, and developing countries will need to double their current production levels. In this context, agriculture drones are expected to play a central role in supporting government efforts to enhance farm yields.
Browse In-depth Summary of This Research Insight:
https://www.fortunebusinessinsights.com/agriculture-drones-market-102589
Regional Insights
Quick Adoption of Advanced Drones for Agriculture to Feed Market Growth in North America
North America, with a market size of USD 367.6 million in 2019, is anticipated to lead the agriculture drone market share during the forecast period. This is mainly attributable to the rapid uptake of advanced UAVs by farmers in the region to increase farm output. Complementing this is the framing of friendly policies by lawmakers in the region supporting deployment of commercial drones and small UAVs for agricultural activities. Asia Pacific is expected to generate tremendous growth opportunities for this market 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.
Industry Developments:
- April 2020: DJI, the Chinese drone maker, released its new offering called the “Mavic Air 2” drone, the successor to the company’s 2018 Mavic Air drone. The new product comes in two variants, the standard and the Fly More, with both being available for immediate purchase in China.
- September 2019: AeroVironment launched the enhanced, next-gen version of its flagship Quantix VTOL hybrid drone and the AeroVironment Decision Support System for precision farming. Equipped with sensors and multispectral imagery capabilities, Quantix is designed to perform crop scouting and can survey up to 400 acres within 45 minutes.
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