The global agriculture drone market was valued at USD 4.98 billion in 2023 and is expected to grow to USD 6.10 billion in 2024, reaching USD 23.78 billion by 2032. This represents a compound annual growth rate (CAGR) of 18.5% during the forecast period. In 2023, Europe led the market, accounting for a 30.52% share of the global revenue.
Agriculture drones, classified as Unmanned Aerial Vehicles (UAVs), have been purposefully crafted for applications within the realm of farming. These cutting-edge UAVs boast an array of sensors and imaging technologies, such as cameras, LiDAR, and multispectral sensors. This sophisticated integration empowers them to adeptly collect crucial data concerning crops, soil quality, and various factors influencing agricultural production.
List of Key Players Covered in the Agriculture Drones Market Report:
Delair Tech SAS (France)
Parrot Drone (France)
3D Robotics (the US)
AeroVironment Inc. (the US)
GoPro (the US)
Drone Deploy (the US)
Sintera LLC (the US)
Ag Eagle (the US)
Trimble Navigation Ltd. (the US)
Precision Hawk (the US)
DJI (China)
Browse In-depth Summary of This Research Insight:
https://www.fortunebusinessinsights.com/agriculture-drones-market-102589
Market Driver: Agriculture Drones Market Size
Skyrocketing Demand for Food Worldwide to Propel the Market
The most critical factor driving the agriculture drones market growth is the expected levels of demand for food and grains worldwide in the next few decades. According to the UN, by 2050, world population will reach 9.1 billion, with sub-Saharan Africa’s population projected to grow the fastest. To meet the food requirements of this surging number of people, the Food and Agriculture Organization (FAO) estimates that the overall food production will need to rise by 70% and production in developing countries will need to double from the current levels. Agriculture drones will play a central role in supporting the efforts of governments in elevating their farm yields. These UAVs offer wide-ranging and decisive advantages to farmers, who can make enormous gains from these machines. For example, drones equipped with smart sensors can enable farmers to collect accurate information on soil conditions. Drones can also spray crops with insecticides and pesticides, thus minimizing farmers’ contact with these harmful chemicals.
Regional Insights: Agriculture Drones Market Size
Quick Adoption of Advanced Drones for Agriculture to Feed Market Growth in North America
North America, with a Agriculture Drones Market size of USD 367.6 million in 2019, is anticipated to lead the Agriculture Drones 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.
Restraining Factors
Challenges to Market Expansion: Navigating Data Overload and Collection Errors
Despite the promising trajectory of agriculture drones market size, there are notable restraining factors impeding its seamless expansion. One significant challenge arises from the phenomenon of data overload, a predicament encountered when individuals or organizations find themselves inundated with more data than they can effectively manage. This predicament is particularly pronounced in the context of drone deployment in farming, where these unmanned aerial vehicles excel at gathering extensive data on crop health, soil moisture levels, and related parameters.
The sheer volume of data amassed by agricultural drones can become overwhelming, posing a hurdle for farmers seeking to extract meaningful insights or make informed decisions. This challenge is exacerbated for smaller-scale farmers who may lack the necessary resources or expertise to efficiently handle and analyze vast datasets.
Moreover, the issue of data inaccuracies presents another hurdle to market growth. Drones, like any technology, are susceptible to errors in data collection, stemming from hardware or software malfunctions, environmental conditions, weather fluctuations, or human error. Environmental factors, in particular, emerge as a significant contributor to data inaccuracies. Adverse weather conditions such as strong winds or rain can divert drones off course, leading to incomplete and inaccurate data collection. Similarly, variations in lighting conditions may compromise the quality of captured images. These challenges underscore the need for meticulous attention to detail and the development of solutions to ensure the sustained and accurate contribution of agriculture drones in the farming landscape.
Industry Developments: Agriculture Drones Market Size
March 2023 – Avikus and Korea Shipbuilding & Offshore Engineering (a Hyundai subsidiary) signed a contract to conduct fuel efficiency experiments using autonomous navigation systems. The initiative is a collaborative effort involving five companies: POS SM, Pan Ocean, Korea Shipbuilding & Offshore Engineering, Korean Register of Shipping, and Avikus.
February 2023 – XAG, a leading smart agricultural technology provider, partnered with FarmInno to introduce fully autonomous agricultural drones in Thailand. The collaboration aims to launch drones equipped with intelligent control systems to advance smart farming in the region.