Drones Market size for Agriculture Application predicted to grow with 21% CAGR from 2016 to 2023
Agricultural dronesmarket size was valued over USD 135 million in 2015 and is anticipated toachieve over USD 555 million at a CAGR of 21% from 2016 to 2023.The potentialbenefits associated with these machines include improve yields and save water.In addition, drones may even assist the government to manage farming moreeffectively and efficiently by monitoring the usage of pesticides.
U.S. agriculturaldrones market share accounted for around 22% in 2015 and is anticipated toreach USD 250 million over the forecast period. Unmanned Aerial Vehicle (UAV)detects specific light wavelength related with walnut blight disease,allocating pest managers or farmers in order to counter the issue which in turnreduces crop damage as well as improves productivity. UAVs are easy to fly,with a hand-held, video game-like controller. It captures videos and picturesof fields, livestock operations and orchards with high resolution. Asia Pacificagricultural drones market size was valued USD over 32 million in 2015 and islikely to attain USD 135 million by 2023 at CAGR of 22% during the coming fewyears.
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Based on types, the global agriculturaldrone market can be bifurcated as quadcopters as well as fixed wing aircraft.Currently, quadcopters is dominating the industry while the fixed wing isanticipated to observe significant gains over the forecast period. Majorparticipants utilize new equipment in order to reduce exploitation of nitrogenin agricultural land to help protect the groundwater. The main advantagesoffered include more energy efficient as well as last longer coupled with lowercost of operation than other commercial manned aircrafts. The above mentionedfactors are likely to drive industry demand.
Commercial agricultural drone market isanticipated to grow significantly owing to aircrafts are able to perform morecost efficiently than other ways of ranching, orchard tending and farming. Itis likely to help farmers improve livestock and crop quality. It also yields toincrease productivity which in turn feed the growing population.
Proliferation of economicalvisualization and navigation offered by these machines helps the farmers tomonitor their land. Visualization includes mapping, inspection, surveillance,and package delivery. These machines are equipped with cameras and are able toperform task precisely which in turn fuel the demand growth over the forecastperiod.
Commercial drone market is anticipatedto be valued over USD 2 billion by 2023, growing at 19% over the forecastperiod. High investment from emerging economies in these machines is likely tosurge the demand. With several key manufacturers pushing products, theaggregate marketing is anticipated to build enormous growth potentialopportunities over the forecast period. However, air traffic management coupledwith security and safety issues is anticipated to challenge the demand growth.
The drone’s geo-tag the picturescaptured and also transmit them, along with all the data, to software in orderto create high-resolution or even 3D maps and geo-referenced that assists thefarmer to analyze the crops. It also notifies the farmer about the well-being’sof the plants. The stable data flow could be fed into a mathematical form inorder to convey analytical information that helps farmer to take effective andefficient decisions on resources required by every micro-segment. Theaforementioned factors are expected to positively impact the globalagricultural drones market growth over the forecast period.
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The machines help in forecast suitabletime to harvest field by taking snapshots and grant farmers with various dataabout the crops and soil. It assists in locating the fields where fertilizersare needed. Stringent government regulations are likely to hinder the industrygrowth. For instance, in UK, the Civil Aviation Authority (CAA) has mandatedcertain rules for fliers pertaining to visual line of sight of the operatorwithin a 500 miters of radius and below 122m.
Major players occupying significant agriculturaldrones market share include AeroVironment Lockheed Martin, Draganflyer, Boeing,Textron, AeroVironment and Northrop Grumman. Other key competent includes ASNTechnologies, Aurora Flight, BAE Systems, China Aerospace, Denel Dynamics,General Dynamics, Honeywell, General Atomics, Google, Israel AerospaceIndustries, Marcus UAV, Prox Dynamics, RUAG Aerospace, Proxy Technologies andWing Loong among others.
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