AGRICULTURAL DRONES MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)

Global agricultural drones market is estimated to be valued at US$ 4.80 Bn in 2024 and is expected to reach US$ 19.24 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 21.9% from 2024 to 2031.

Agricultural drones, also known as unmanned aerial vehicles (UAVs) or unmanned aerial systems (UASs), are intended for precision agriculture and farming purposes. Precision farming aims to maximize crop yields and minimize inputs such as water, fertilizers and pesticides using drones. Agricultural drones are equipped with sensors, cameras and software for mapping fields, monitoring crop health and soil conditions. The data collected helps farmers in applying precisely the right amount of inputs only where needed. This leads to higher productivity, sustainability and profitability for farmers.

Market Dynamics:

Global agricultural drones market growth is driven by growing need for precision farming and crop monitoring. Farmers are increasingly adopting drones to scan large tracts of farmland, detect plant diseases, monitor soil health and analyze crops. This helps to maximize crop yields through informed decision making. However, high costs of agricultural drones and lack of technical knowledge among farmers hampers the market growth. Emerging applications of drones such as crop spraying, crop scouting and livestock monitoring present lucrative opportunities for the market growth. Ongoing technological advancements in drones, sensors, software and data analytics also boost the agricultural drones market growth.

Key features of the study:

- This report provides in-depth analysis of the global agricultural drones market, and provides market size (US$ Billion) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year

- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market

- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players

- It profiles key players in the global agricultural drones market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies

- Key companies covered as a part of this study include Aeronavics, AeroVironment Inc., AgEagle Aerial Systems Inc., DELAIR SAS, DRONE VOLT, FlyGuys, Harris Aerial, ideaForge Technologies Pvt. Ltd., Kray Technologies, Nextech, Parrot Drones SAS, PrecisionHawk Inc., Sentera Inc., Shenzhen GC electronics Co. Ltd, Skyfront, SZ DJI Technology Co. Ltd., Vision Aerial Inc.

 - Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics

- Global agricultural drones market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global agricultural drones market

Market Segmentation

• By Type
• • Fixed Wing
  • Rotary Wing
  • Hybrid
• By Component
• • Hardware
  • Software
•  By Application
• • Field Mapping & Monitoring
  • Crop Spraying
  • Crop Scouting
  • Variable Rate Application
  • Livestock Monitoring
  • Others
• By Regional
• • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa
• Key Players
  • Aeronavics
  • AeroVironment Inc.
  • AgEagle Aerial Systems Inc.
  • DELAIR SAS
  • DRONE VOLT
  • FlyGuys
  • Harris Aerial
  • ideaForge Technologies Pvt. Ltd.
  • Kray Technologies
  • Nextech
  • Parrot Drones SAS
  • PrecisionHawk Inc.
  • Sentera Inc.
  • Shenzhen GC electronics Co. Ltd
  • Skyfront
  • SZ DJI Technology Co. Ltd.
  • Vision Aerial Inc.