The agriculture drones market is expected to grow from USD 1.2 billion in 2020 to USD 5.7 billion by 2025 at a CAGR of 35.9% from 2020 to 2025. A few key factors driving the growth of this market are pressure on global food supply due to growing world population and increase in venture funding for the development of agriculture drones.
DJI (China), PrecisionHawk (US), Trimble Inc. (US), Parrot (France), 3DR (US), AeroVironment, Inc. (US), Yamaha Motor Corp. (Japan), DroneDeploy (US), AgEagle Aerial Systems, Inc. (US), and OPTiM Corp. (Japan) are among the major players in the agriculture drones market. Most of the leading companies have used product launches and developments as key strategies to boost their revenues.
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Top 2 Market Players:
DJI (China) is a manufacturer and distributor of unmanned aerial systems (UAS). The company manufactures a wide range of products, including flying cameras, flying platforms, flight controllers for multi-rotors, accessories for helicopters, camera gimbals (aerial and handheld), and ground stations. With the DJI Phantom series, farmers are able to evaluate their crops at scale while simultaneously creating crop maps that help them manage crops and time better. Using the DJI Inspire, equipped with a DJI Zenmuse XT thermal imaging camera developed in collaboration with FLIR, these important data can be easily captured. Furthermore, DJI Agras MG-1 is an agricultural octocopter designed to increase efficiency and manageability in plant protection and fertilization. To grow in the agriculture drones market, DJI has selected the organic growth strategy of product launches. For example, in September 2019, DJI launched P4 Multispectral, the world’s first fully integrated multispectral imaging drone designed for precision agriculture and environmental management. P4 Multispectral combines data from six separate sensors to measure the health of crops, from individual plants to entire fields, as well as detect the presence of weeds, insects, and a variety of soil conditions. Disruptions in supply chain, trade restrictions, administrative delays, and hindrances in new contracts due to COVID-19 are going to impact the company’s revenue from the agriculture drones market in 2020.
PrecisionHawk (US) is a provider of aerial data and safety platforms for drones. The company uses drones to collect data for a variety of industries, including agriculture, energy, forestry, and government. PrecisionHawk is at the forefront of policy and technology development efforts to foster global adoption of commercial drone technology. PrecisionHawk has reset its focus on agriculture with the growing demand from precision farming applications such as crop scouting and crop health assessment. The company’s focus is on gathering the most precise and complete data to provide usable and easy to understand data. To grow in the agriculture drones market, PrecisionHawk has selected a mix of organic and inorganic growth strategies such as product launches and partnerships. For example, in July 2019, PrecisionHawk partnered with Pix4D (Switzerland) to enhance its in-field data collection, verification, and analytics capabilities. The partnership supported PrecisionHawk’s focus to provide best-in class-software for aerial mapping, modeling, analytics tools, and AI. Furthermore, in April 2019, PrecisionHawk launched PrecisionAnalytics. With PrecisionAnalytics, the user can apply the latest generation of AI to aerial data, thereby automating analysis, streamlining reporting, and accelerating work.
Agriculture Drones Market with COVID-19 Impact Analysis, by Application (Precision Farming, Livestock Monitoring), Offering, Farming Environment, Farm Produce, Component, and Geography - Global Forecast to 2025
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