Agricultural Drones Market Will Multiply At An Impressive CAGR Of 41.3% By 2027 & Top Key Players AeroVironment Inc., DJI Innovation, Israel Aerospace Industries, PrecisionHawk, Parrot SA, Trimble Navigation Ltd., MicroDrones GmbH, 3D Robotics, Aibotix, Dragonfly Innovations, Coptercam and Cyberhawk Innovation Ltd.
New York, United States – July 26, 2018 —
The agricultural drones market has been segmented by products into fixed wing drones, multi rotor drones, hybrid drones and other multi rotor drones such as micro drones. Among these segments, the fixed wing drones are expected to grow at highest CAGR over the forecast period. Followed by fixed wing drones, the multi rotor drones are anticipated to drive the market of agricultural drones with the significant growth. Based on application, the agricultural drones market has been segmented into field mapping, spraying, livestock monitoring and others. The spraying segment is estimated to dominate the market owing to the rising usage of drones for spraying pesticides on the crops.
The global market for agricultural drones is expected to flourish at a significant CAGR of 30.2% over the period 2017-2024. Factors such as blooming population coupled with increasing need for precise farming in order to improve overall crop production are anticipated to drive the demand for Agricultural Drones Market globally. Further, implementation of advanced technologies including agricultural robots in crop fields is estimated to boom the agricultural drones market by noteworthy revenue by the end of 2024.
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In regional segment, North America represented the largest market for agricultural drones and is expected to dominate the market during the forecast period. This can be attributed to high adoption rate of advanced agricultural technologies in this region. Additionally, factors such as increasing awareness towards benefits of precise farming coupled with rising utilization of agricultural drones in farming applications such as crop scouting, seed spraying and field mapping are also expected to foster the expansion of agricultural drones market in North America region. Further, growing adoption of advanced technology and increasing investment by several companies in order to develop cost effective agricultural applications is anticipated to boom the market of agricultural drones in Asia Pacific.
Agricultural Sector Reflects Significant Opportunities
Demand for additional benefits in farming combined with rising awareness among farmers is driving the growth of agricultural drones market globally as agricultural drones are considered perfect solution for crop monitoring in very large arable lands. Moreover, other applications of agricultural drones such as crop scouting, field mapping, fertilizer & pesticides spraying are some of the major factors which are making these agricultural drones more acceptable in agricultural sector. These factors are believed to supplement the growth of the agricultural drones market in the near future.
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However, factors such as lack of awareness and unavailability of trained drone pilots combined with restriction of use of agricultural drones in countries such as India and Nepal are likely to inhibit the growth of the agricultural drones market over the forecast period.
The report titled “Agricultural Drones Market: Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation” delivers detailed overview of the agricultural drones market in terms of market segmentation by products, by components, application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the agricultural drones market which includes company profiling of AeroVironment Inc., DJI Innovation, Israel Aerospace Industries, PrecisionHawk, Parrot SA, Trimble Navigation Ltd., MicroDrones GmbH, 3D Robotics, Aibotix, Dragonfly Innovations, Coptercam and Cyberhawk Innovation Ltd.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the agricultural drones market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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