As the population across the globe is growing at a rapid pace, the demand for food products for catering to their needs is increasing as well. As per the United Nations, the global population in 2018 was about 7.7 billion, and this number is predicted to increase to 9.7 billion by 2050. In addition to this, the arable land around the world has been decreasing as well, which is result of swift urbanization and industrialization. It is because of these factors that the demand for advanced technologies that will aid in increasing productivity on available farming lands is rising.
Proper utilization of the available data can significantly aid in maximizing the yields. Owing to such advantages of these devices, the global agricultural drones market is predicted to generate a revenue of $6.2 billion by 2024, increasing from $1.5 billion in 2018, and is projected to witness a 25.0% CAGR during the forecast period (2019–2024), according to a research study published by P&S Intelligence, the study covers detailed analysis of component, deployment type, feature, industry overview of the agricultural drones market.
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Different types of aerial platforms for agricultural drones are fixed-wing, multi-rotor, and single-rotor, out of which, the demand for multi-rotor aerial platforms was the highest in the past. These devices are the most common drones utilized by farmers because of their competitive pricing and user-friendly nature. Other than this, the demand for fixed-wing drones is also expected to grow considerably in the near future, which is ascribed to the ability of these drones to carry heavy payloads and cover large areas. Agricultural drones come in different sizes, including large, medium, micro, and small, among which, the demand for small-sized drones was the highest in the past.
The objective of this research includes;
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This is because of the fact that these drone are user-friendly and are therefore used by farmers for different applications. Apart from this, the demand for large-sized agricultural drones is also projected to grow significantly in the coming years, which can be ascribed to the fact that these drones have high endurance and can cover large areas of fields. Different applications of agricultural drones are aerial planting, soil & field analysis, crop monitoring, crop spraying, irrigation, and health assessment out of which, the largest demand for agricultural drones was created for crop spraying application in the past.
The research includes detailed analysis of;
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P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.