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 t
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 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”.
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, 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.
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:
List of Key Players Covered in the Agriculture Drone Market Report:
ENTERTAINMENT
BUSINESS
NEWS
TECHNOLOGY
BLOCKCHAIN
COVID-19
NATIONAL
WORLD
SPORTS
YOUTUBE
TRAVEL
POLITICS
CONSERVATIVE VIEW
LIBERAL VIEW
DANCE STYLE
FASHION
LIFESTYLE
MUSIC STYLE
INDIAN CUISINE
FESTIVALS IN INDIA
FEMALE CLOTHING
SEASONS
MARRIAGES
ANIMALS
HUMOR
SCIENCE
LIFE STYLE
CELEBRITY
RECIPES
DESIGN
COMPUTER SCIENCE
PHOTOGRAPHY
WEATHER
HEALTH EATING
WOMENS NEWS
BEAUTY
MINDFULNESS
JOB CONSULTANCY
EDUCATION
TUTOR
RESTAURANT
BAR & CAFES
TRAVEL & EVENTS
NEWS & POLITICS
CARS & VEHICLES
ECONOMICS & TRADE
PETS & ANIMALS
GAMING
MOVIES & ANIMATION
PROPERTY
HOME & GARDEN
GIFTS & OCCASIONS
BEAUTY PRODUCTS & SERVICES
BABY & CHILDREN'S PRODUCTS
MANAGEMENT BINARY
Other