Agriculture Drones Market worth $8.03 billion by 2029 – Exclusive Report by MarketsandMarkets™

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Nov 05, 2024

DELRAY BEACH, Fla., Nov. 5, 2024 /PRNewswire/ — The agriculture drones market is estimated at USD 2.00 billion in 2024 and is projected to reach USD 8.03 billion by 2029, at a CAGR of 32.0% from 2024 to 2029. The global agriculture drone market is growing substantially due to rapid technological advancements and increased focus on precision agriculture. The other important reason is the research and development of sensor and artificial intelligence-based technologies that will help farmers more precisely undertake crop monitoring, spraying, and mapping. Furthermore, the on-going adoption of precision farming techniques, which have promised much more efficient utilization of resources in an environment-friendly mode.

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Based on payload capacity, the medium payload drones dominate the agriculture drones market during the study period.

Medium payload capacity is dominating the agriculture drones market, due to its multitasking ability, cost efficiency, and scalability. Optimal payload capacity combined with manoeuvrability allows the efficient transfer of necessary equipment such as sensors and spraying systems for versatile applications from crop monitoring to pesticide application. A narrower yet comparable payload means these assets are more accessible to a greater number of farmers, particularly those running smaller and middle-sized farm operations. Moreover, the advancement of technology enhances their reliability and performance due to the increasing demand for precision agriculture. Besides this, their friendly interface makes them accessible to farmers irrespective of technical backgrounds, which has made them gain more adoption. Lastly, medium payload drones are scalable, and the farmer can easily change their operations depending on how big or small their farm is because they can easily adapt to changing forms of different forms and sizes of farms.

The cereals & grains segment within the farm produce has a larger share and is growing at a higher CAGR in the agriculture drones market during the forecast period.

The cereals and grains segment in the farm produce segment is growing substantially in the agriculture drones market. Cereals like wheat, corn, and rice are staple crops that require precise management to optimize yields, which makes the drone more important. As drones can do aerial surveys, crop health monitoring, and soil condition assessment, thus supporting farmers in informed decisions that may yield maximum productivity and resource utilization.

Moreover, notably, precision agriculture development is quite useful for the production of cereals and grains. Agriculture drones conduct aerial surveys; thorough data acquisition and actionable insight generation will assist farmers in undertaking focused interventions such as precise irrigation and fertilization. This is found to be resource-efficient, cost-reducing, and productivity-enhancing in absolute terms.

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Based on region, North America is the fastest growing region in the agriculture drone market in 2023.

North America region dominated the agriculture drones market in 2023. The North America is dominating due to both the technological advancements and growing adoption of precision agriculture practices, as well as support for the growth through regulatory frameworks. Important growth drivers include the increased adoption of precision farming techniques and the improvement of crop management and resource efficiency. In addition, it incorporates drones in various applications related to crop monitoring, soil analysis, and targeted application of pesticides for enhanced yields with lower operating costs. Drones were further empowered through their embedding with some of the advanced technologies including high-resolution imaging, AI analytics, and multispectral sensors, which provide actionable insights.

The report profiles key players such as DJI (China), Trimble Inc (US), Parrot Drone Sas (France), Yamaha Motor Co., Ltd. (Japan), Ageagle Aerial Systems Inc (US), Dronedeploy (US), XAG Co., Ltd. (China), Sentera (US), Autel Robotics (China), and Yuneec (US).

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Browse Adjacent Reports @ Agriculture Industry Market Research Reports & Consulting

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