Agriculture Drones Market to cross the billion-dollar frontier by 2024, Asia Pacific to be a beneficial growth avenue over 2017-2024
Publisher : Fractovia | Published Date : 2017-05-03Request Sample
The rising awareness regarding the efficiency and advantages of drones has resulted in a discernible change in Agriculture Drones market. Drone technology has been revolutionizing numerous sectors such as scientific research, entertainment, and astronomy since long. Not to be left behind, the agricultural sector has joined this bandwagon of professional domains as well. Despite numerous technological developments, farming is touted to remain the base of food production, subject to which advanced technology is being deployed of late to improve productivity and crop efficiency. This in turn, will stimulate global Agriculture Drones market, slated to grow at a CAGR of more than 13% over 2017-2024.
DroneDeploy, a major player in global Agriculture Drones industry, has recently announced the launch of a new product in the beta version, named Fieldscanner, that offers real-time drone mapping. With the help of this product, farmers will be able to use any drone to create a map of their fields and register the insights before the drone lands. The product is a part of DroneDeploy's iOS app and is touted to be used massively by landowners. Other companies operating in Agriculture Drones market such as PrecisionHawk, DJI, Trimble Navigation, AeroVironment, and GoPro have also been undertaking similar efforts to innovate modern technologies to be incorporated in drones so as to utilize their potential and capacity to the maximum for crop scouting and mapping. This factor will push Agriculture Drones industry over the years to come.
Europe Agricultural Drones Market Size, by Product, 2016 & 2024 ($ Mn)
Market players are also concentrating on increasing their investment allocation and acquiring other companies to diversify their product portfolio. DJI, the Guangdong-based Chinese technology company, for instance, invested more than USD 75 million to launch its first drone that was especially designed to serve the requirement of the agricultural sector. Major giants such as Mitsui and Syngenta, and Mitsui have also collaborated with established players and financially helped firms to improve irrigation processes, harvesting, and crop spraying. Continuous efforts by such established organizations is sure to propel Agriculture Drones market.
The three key advantages of using drones in agriculture are that they improve crop efficiency, supply plenty of useful information in less time, and provide myriad environment friendly benefits. Farmers and landowners are becoming increasingly aware of these benefits and are working toward utilizing the same for farming, thereby impacting Agriculture Drones industry. The tremendous development of precision farming market will also fuel the industry growth over the next six years. Subject to the benefits of drones, the government as well as private bodies have been investing in UAVs (unmanned aerial vehicles) to make full use of their potential for farming. With the rising popularity of automation, farmers and agricultural workers are willing to implement advanced technologies such as drones in their farming techniques to obtain superior quality crops and enhance productivity, thereby stimulating agricultural drone market. Drones optimize crop management and help take photographs of the fields as well. The incorporation of GIS and GPS in UAVs for efficient positioning and to obtain precise information about the crops and soil will also help Agriculture Drones industry reach an estimated revenue target of USD 1 billion by 2024.
UAVs find uses in crop scouting, field mapping, and variable rate application. The agriculture sector is witnessing the introduction of new government rules that may revolutionize the industry by means of innovative farming methodologies and equipment, many of which will be made sufficiently affordable for the agricultural workforce. In 2016, the FAA (Federal Aviation Administration) declared that no pilot’s license will be required for drones that weigh less than 55 pounds and are used for commercial buying & selling operations. These rules will considerably simplify the routine commercial transactions for farmers and lead to an increase in the demand for drones, thereby propelling global Agriculture Drones market.
Drones help analyze and monitor crops and subsequently increase the yield, stimulating Agriculture Drones industry from field mapping applications, which led the global market in 2016. In addition, UAVs are used to reduce the wastage of excess pesticides and fertilizers and improve the harvest, a factor that is forecast to fuel Agricultural Drones market from crop scouting applications.
The trend of using UAVs to improve crop productivity has gained remarkable prominence across different regions. Farmers are becoming increasingly aware of the benefits of using UAVs and the importance of precision farming for field mapping. This will lead U.S. Agriculture Drones market to grow at a significant pace over 2017-2024. Key players have also been investing in the APAC countries subject to the ever-ubiquitous agricultural sector and the convenience to develop effective, low cost products. This is bound to push Asia Pacific Agricultural Drones market to greater heights in the future. High adoption of UAVs and the continuous developments in drone technology are also key factors that will stimulate the APAC Agriculture Drones industry growth.
UAVs embedded with high grade imaging and data analytics will help farmers protect their crops more effectively. When integrated with infrared, hyperspectral, multispectral, or thermal cameras, these UAVs also provide excellent viewability for farmers to help them monitor and analyze their crops and make timely decisions. This will augment software based Agriculture Drones market over 2017-2024, subject to the fact that imaging software helps process pictures taken by the camera-mounted drones.
Based on core hardware technology, Agriculture Drones industry encompasses nano, fixed wing, hybrid, and multi-rotor drones. Fixed wing products held more than 70% of the overall Agriculture Drones market share in 2016. These products are capable of functioning over longer distances and possess the ability to carry heavy payloads. Pertaining to these factors, fixed wing Agriculture Drones industry is forecast to dominate the global market over 2017-2024.
Speaking of long distance mobility, hybrid products can also function brilliantly over long distances. They also possess superior visualization and navigation features, which will aid farmers to inspect and map their fields accordingly. The rising adoption of these products by farmers and agronomists will propel hybrid Agriculture Drones market over the years to come.
In accordance with expert viewpoints, it has been predicted that drones are indeed here to revolutionize the dynamics of various professional domains. Despite a couple of restraints such as slow internet speed and poor connectivity, especially in the rural areas, Agriculture Drones market is expected to record outstanding growth, subject to the efforts taken by industry players to counter the constraints. The myriad benefits provided by UAVs have led to their increased adoption by the farming sector, and this in turn, is expected to change Agriculture Drones industry outlook in the next few years and beyond.
