Agricultural Drones Market Analysis growth
Agricultural Drones Market Analysis, Trends, Top Manufacturers, Share, Growth, Statistics, Opportunities & Forecast to 2024
MarketStudyReport.com Adds New Agricultural Drones Market 2017 – 2024 research report providing information and data By Product, By Application, Industry Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast spreading across 115 Pages with table and figures in it.
Agricultural Drones Market Research Report for the period of 2017-2024 that shows the growth of the market is rising at a 13% to 2024.
Growing awareness regarding UAV implementation benefits among farmers will support the agricultural drones market share from 2017 to 2024. Increasing technological advancements to enhance quality farming techniques will further drive the industry demand over the forecast timeline. Increasing automation due to lack of skilled resources and labor crisis will fuel the industry. Favorable government initiatives across the agricultural sector will allow large and small operations to aid in effective farming practices. Agricultural Drones Market size is set to surpass USD 1 billion by 2024, according to a new research report. Global shipments will exceed 200 thousand units by 2024.
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The agricultural drones market is emerging as a profitable industry under the commercial sector. These products assist farmers in providing soil and crop data by taking pictures for assisting in crop management and adding components such as navigation system, GPS, and GIS benefit UAVs for improved maneuvering.
UVAs incorporated with infrared, hyperspectral, and multispectral cameras provide the required vision to the farmers, thus shielding the crops and farm. These images provide the necessary data and support the decision-making process. Images captured by multispectral cameras serve as an effective tool for plant health and soil evaluation analysis. Identification of weeds, pests, pesticide usage optimization, determining spacing issues, visual inspection of crops and fence are among the major benefits.
UAV LiDAR and photogrammetry imaging applications are potential opportunities for the agricultural drones market size. UAVs mounted with lidar drones in community projects will help in providing aerial view and building topographic maps.
The fixed wing agricultural drones market share accounted for about 70% of the revenue in 2016. The segment will dominate the industry over the forecast timeframe owing to the ability to carry heavy payloads and cover long distances. Imaging software plays a key role in processing images captured by cameras mounted on UAVs, which will fuel software revenue in the coming years.
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Favorable government initiatives in the agricultural sector is expected to be the key growth factors in the Europe agricultural drones market size. Venture capitalists are investing in unmanned aerial vehicle startups which will yield significant return to the investors. Companies such as Syngenta, Mitsui and Monsanto backed startups for improving crop spraying, harvesting and irrigation. DJI elevated USD 75 million during its first drone launch for the agricultural space.
Companies operating in the agricultural drones market include AeroVironment, Trimble Navigation Ltd., DJI Technology, PrecisionHawk, 3D Robotics, and Parrot SA. Industry participants are focusing on strategic acquisitions in order to consolidate share and expand regional and global presence.
Table of Content:
Chapter 1 Methodology & Scope
Chapter 2 Executive Summary
Chapter 3 Agricultural Drones Market Industry Insights
Chapter 4 Agricultural Drones Market, By Product
Chapter 5 Agricultural Drones Market, By Application
Chapter 6 Agricultural Drones Market, By Region
Chapter 7 Company Profiles
United States Agricultural Drones Market Report 2017
In this report, the United States Agricultural Drones market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016 and 2022.
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