Global Agriculture Drones Market to Reach $4.4 Billion by 2024

Agricultural drones are unmanned aerial vehicles designed for monitoring crop growth and boosting production. Equipped with digital imaging capabilities and advanced sensors, these drones provide farmers with a detailed picture of their farms to help them improve farm efficiency and crop yields. The bird`s-eye view of the field offered by agricultural drones allows farmers to identify various issues like fungal/pest infestations, irrigation problems and soil variation. Multispectral images offered by agricultural drones reveal a near-infrared view and a visual spectrum view, enabling farmers to identify differences between unhealthy and healthy plants, which are difficult with the naked eye. These views help farmers in evaluating crop growth as well as crop production. Agricultural drones can be used by farmers for periodical survey of crops, providing hourly, daily or weekly images revealing changes in crops and trouble spots for better crop management. Amid the COVID-19 crisis, the global market for Agriculture Drones is projected to reach US$4.4 Billion by 2024, registering a compounded annual growth rate (CAGR) of 30.2% over the analysis period. The United States represents the largest regional market for Agriculture Drones, accounting for an estimated 31.1% share of the global total. The market is projected to reach US$1.9 Billion by the close of the analysis period. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 36.9% over the analysis period.

Agricultural drones are set to disrupt the agriculture industry owing to their immense potential to make agriculture more efficient, precise and productive. With farmers grappling with mounting pressure to boost production while adapting to climate change and dealing with various issues, drones present a compelling solution to improve efficiency of the entire farming enterprise. . Farmers can use the technology to timely identify failing plants, take crop inventory, study and map farmland, improve efficiency of irrigation systems. Agricultural workers can exploit the technology for collecting data, automating redundant processes and maximizing efficiency. In addition to spraying water, fertilizers or pesticides on crops, drones can be used for livestock monitoring and tracking animal population and health. Drones considerably expedite various time-intensive tasks to improve overall productivity. Equipped with cameras, sensors and advanced data-gathering devices, agricultural drones offer detailed images of farms from the sky to help farmers identify plant health, soil conditions and dry spots or plant pests. The technology is witnessing increasing acceptance among farmers globally to intensify production. While farmers in Japan are relying on agricultural drones to deliver pesticides or fertilizers, US farmers are investigating drones for identifying dry spots or other stress areas. The technology is anticipated to also play an important role in generating new job opportunities and attract people towards farming. Over the last several years, a large number of people in the EU and US have turned away from agriculture owing to factors such as inadequate farm incomes, low reliability, and risky, seasonal and demanding nature of farming. Considering these factors, less than 1% of the US is engaged in farming, with the total number of farm workers in the country declining from around 3.4 million during the last century to less than 1 million. Agricultural drones are anticipated to reverse the trend by making farming a more efficient and productive venture.