The global market is expected to garner $6,244.5 million by 2028
A new report on the global agriculture drones market by Research Dive states that the market is expected to garner $6,244.5 million by 2028, growing at a CAGR of 19.2 per cent from 2021 to 2028. Growing demand for food supply, rising implementation of precision farming techniques, and increasing venture funding in making of drones are boosting the growth of the global agriculture drones market. Furthermore, a growing preference for enhanced data analytics to streamline agricultural processes in sustainable farming practices is projected to give rise to profitable opportunities for market growth during the forecast period. However, the dearth of standardization of communication interfaces and rules and regulations on flying commercial drones in residential areas is expected to hinder the market growth.
The abrupt rise of the COVID-19 pandemic has significantly impacted the growth of the global agriculture drones industry. The pandemic has surged the need for agriculture drones as the demand for food supply has increased drastically amidst the pandemic. However, the closure of drone manufacturing companies and price drop in food prices is restricting farmers from adopting agricultural drones during the pandemic period, which is hampering the market growth to a certain extent.
The report segments the global agriculture drones market into type, technology, application, and region. Among type segments, the rotary sub-segment is expected to grab a major share of the market and garner $3,448.6 million during the forecast period. The crop spray sub-segment is projected to observe accelerated growth by garnering $748.1 million by 2028. Among the technology segment, the autonomous drones sub-segment is projected to observe rapid speedy growth by garnering $2,244.0 million by 2028.
The report analyses the global agriculture drone market across several regions such as North America, Europe, Asia Pacific, and LAMEA. Among these, the North American region market is expected to lead the global market by garnering a revenue of $2,172.4 million during the estimated timeframe.
