Agricultural Drones Market 2023- Analysis By Industry Size, Share, Revenue Growth, CAGR of 30.2% over the period 2017-2024
The agricultural drones market has been segmented by products into fixed wing drones, multi rotor drones, hybrid drones and other multi rotor drones such as micro drones. Among these segments, the fixed wing drones are expected to grow at highest CAGR over the forecast period. Followed by fixed wing drones, the multi rotor drones are anticipated to drive the market of agricultural drones with the significant growth. Based on application, the agricultural drones market has been segmented into field mapping, spraying, livestock monitoring and others. The spraying segment is estimated to dominate the market owing to the rising usage of drones for spraying pesticides on the crops.
The global market for agricultural drones is expected
to flourish at a significant CAGR
of 30.2% over the period 2017-2024. Factors such as blooming
population coupled with increasing need for precise farming in order to improve
overall crop production are anticipated to drive the demand for agricultural
drones market globally. Further, implementation of advanced technologies
including agricultural robots in crop fields is estimated to boom the
agricultural drones market by noteworthy revenue by the end of 2024.
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In regional segment,
North America represented the largest market for agricultural drones and is
expected to dominate the market during the forecast period. This can be
attributed to high adoption rate of advanced agricultural technologies in this
region. Additionally, factors such as increasing awareness towards benefits of
precise farming coupled with rising utilization of agricultural drones in
farming applications such as crop scouting, seed spraying and field mapping are
also expected to foster the expansion of agricultural drones market in North
America region. Further, growing adoption of advanced technology and increasing
investment by several companies in order to develop cost effective agricultural
applications is anticipated to boom the market of agricultural drones in Asia
Pacific.
Agricultural Sector Reflects Significant Opportunities
Demand for additional
benefits in farming combined with rising awareness among farmers is driving the
growth of agricultural drones market globally as agricultural drones are
considered perfect solution for crop monitoring in very large arable lands.
Moreover, other applications of agricultural drones such as crop scouting,
field mapping, fertilizer & pesticides spraying are some of the major
factors which are making these agricultural drones more acceptable in
agricultural sector. These factors are believed to supplement the growth of the
agricultural drones market in the near future.
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However, factors such
as lack of awareness and unavailability of trained drone pilots combined with
restriction of use of agricultural drones in countries such as India and Nepal
are likely to inhibit the growth of the agricultural drones market over the
forecast period.
The report titled “Agricultural
Drones Market: Global Historical Growth (2012-2016) & Future Outlook
(2017-2024) Demand Analysis & Opportunity Evaluation” delivers
detailed overview of the agricultural drones market in terms of market
segmentation by products, by components, application and by region.
Further, for the
in-depth analysis, the report encompasses the industry growth drivers,
restraints, supply and demand risk, market attractiveness, BPS analysis and
Porter’s five force model.
This report also
provides the existing competitive scenario of some of the key players of the
agricultural drones market which includes company profiling of AeroVironment
Inc., DJI Innovation, Israel Aerospace Industries, PrecisionHawk, Parrot SA,
Trimble Navigation Ltd., MicroDrones GmbH, 3D Robotics, Aibotix, Dragonfly
Innovations, Coptercam and Cyberhawk Innovation Ltd.
The profiling enfolds
key information of the companies which encompasses business overview, products
and services, key financials and recent news and developments. On the whole,
the report depicts detailed overview of the agricultural drones market that
will help industry consultants, equipment manufacturers, existing players
searching for expansion opportunities, new players searching possibilities and
other stakeholders to align their market centric strategies according to the
ongoing and expected trends in the future.
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version of report? Obtain Report Details @ https://www.researchnester.com/reports/agricultural-drones-market/462
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