Agriculture Drone To generate tremendous growth opportunities for this industry

Fortune Business Insights™ shares this observation in its report, titled “Agriculture Drone Market Size, Share & Industry Analysis, By Type (Fixed Wing, Rotary Wing, and Hybrid), By Components (Hardware [Frames, Control Systems, Propulsion System, Navigation System, Payload, Avionics, Others] and Software [Imaging Software, Data Management Software, Data Analytics Software, Others]), By Application (Field Mapping & Monitoring, Crop Spraying, Crop Scouting, Variable Rate Application, Livestock Monitoring, Others), and Regional Forecast, 2020-2027”.

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. These UAVs offer wide-ranging and decisive advantages to farmers, who can make enormous gains from these machines.

The report states that the global market value stood at USD 1,021.1 million in 2019.

• Unparalleled insights into the factors driving and constraining the market growth;
• In-depth & piecemeal analysis of the market segments;
• An exhaustive examination of the regional dynamics impacting the market; and
• Detailed profiling and study of the key market players and their strategies.

Market Driver

Skyrocketing Demand for Food Worldwide to Propel the Market

The most critical factor driving the agriculture drone market growth is the expected levels of demand for food and grains worldwide in the next few decades. According to the UN, by 2050, the world population will reach 9.1 billion, with sub-Saharan Africa’s population projected to grow the fastest.

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.

Regional Insights

Quick Adoption of Advanced Drones for Agriculture to Feed Market Growth in North America

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 the deployment of commercial drones and small UAVs for agricultural activities.

The 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.

List of Key Players Covered in the Agriculture Drone 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)

Information Source-

https://www.fortunebusinessinsights.com/agriculture-drones-market-102589