Agriculture drones are emerging as a lucrative sector as the applications of commercial drones over the forecast period.
The global agriculture drone market is expected to reach USD 3,770.0 million by 2024, according to a new report by Grand View Research, Inc. The increasing technological advancements in equipment and for enhancing the quality of the farming techniques have led to the increased implementation of agriculture drones in the market.
Increasing automation in the agriculture process, owing to the labor crisis, such as lack of skilled farmers, aging farmers, is also expected to positively impact the market growth. A favorable shift in the regulatory policy is also expected to allow start-ups to operate in small and large farming operations and aid in disease & water management.
Innovations in the GPS mapping field coupled with the advancements in precision agriculture are expected to propel the industry growth over the forecast period. Drones have the potential to implement better plantation with crop rotation strategies and give crucial inputs related to the daily progress of crops which is further contributing to the growth.
The companies operating in the industry are designing and manufacturing systems that are collecting the data and are incorporating them into business models. which is further anticipated to enhance the industry growth. The data gathered from drones help the farmers to improve yields; supply water, fertilizer, or chemical when needed, and are also able to map their fields, check for signs of disease, monitor crop health, and save time in the process.
The scarcity of trained pilots for operating the drones may impact the market growth, although the market is expecting to overcome the scarcity, gradually, with the increasing applications of the drone.
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Further key findings from the report suggest:
Grand View Research has segmented the agriculture drone market based on product type, application, and region:
Product Outlook (Transaction Revenue, USD Billion, 2014 - 2024)
Application Outlook (Transaction Revenue, USD Billion, 2014 - 2024)
Regional Outlook (Transaction Revenue, USD Billion, 2014 - 2024)
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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