The global agricultural drones’ market is expected to grow from $1.5 billion in 2019 to $10.5 billion by 2027, at a CAGR of 31.4 per cent during the forecast period 2020-2027
As per the report published by Fior Markets, the global agricultural drones’ market is expected to grow from $1.5 billion in 2019 to $10.5 billion by 2027, at a CAGR of 31.4 per cent during the forecast period 2020-2027. The North America region stands as a promising market for agricultural drones and is expected to grow at the highest CAGR of during the forecast period. It is also the largest market for agricultural drones. This is due to the high purchasing power and readiness in technological adoption of consumers in that region. North America is the fastest-growing, but South America has the highest potential for growth.
Key players in the global agriculture drones’ market are Israel Aerospace Industries, Yamaha Motor, Delair, AeroVironment, PrecisionHawk, Trimble Navigation, AgEagle Aerial Systems, Microdrones GmbH, Agribotix LLC American Robotics, AgEagle Aerial Systems, URSULA Agriculture, Sentera, Parrot SA, SZ DJI Technology, and AutoCopter Corp among others. Key companies are mainly focusing on developing new products, forming partnerships, and joint ventures to gain significant market share in the global agriculture drone’s market.
The key driver of the global agricultural drones’ market is increased agricultural output. Higher crop yields and a better understanding of precision farming are raising demand for these drones.
