NEW YORK, Dec. 12, 2019 (GLOBE NEWSWIRE) -- According to the market research report published by P&S Intelligence, the global agricultural drones market share was valued at $1.5 billion in 2018, which is projected to reach $6.2 billion by 2024, exhibiting a CAGR of 25.0% during the forecast period (2019–2024). Based on application, the crop spraying category held the largest share in the market in 2018. Rapid spread of crop diseases, such as Rhizoctonia and Verticillium, due to pathogens, such as Fall Armyworm (FAW) and Bollworm, are hampering the crop production. By deploying drones for crop spraying, farmers can detect these diseases at the early stage and thereby, they are enabled to take suitable actions and safeguard the crop.
On the other hand, the agricultural drones market in the aerial planting category is projected to witness the fastest growth during the forecast period, owing to the fact that aerial planting increases the crop yield in a cost-effective manner.
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Rising adoption of agricultural drones for crop spraying is observed as an emerging trend in the agricultural drones market. Deployment of drones for crop spraying has enabled farmers to monitor distant locations of their farms on a real-time basis. Additionally, by leveraging agricultural drones, only adequate liquid is used for crop spraying, thereby ensuring efficiency. Multi-rotor agricultural drones are the preferred choice for crop spraying, owing to their ability to hover over a surface. North America is the largest market where maximum number of drones are deployed for crop spraying application.
Agricultural drones are being deployed in order to improve agricultural productivity. Presently, multi-spectral images by agricultural drones provide vital data, such as crop growth, soil and field analysis, health assessment, and hydric-stress area, on a real-time basis. This assists farmers in locating underperforming areas and crop-related diseases, and helps in better crop management.
Browse report overview with detailed TOC on "Agricultural Drones Market Research Report: By Aerial Platform (Multi-Rotor, Single-Rotor, Fixed-Wing), Size (Micro, Small, Medium, Large), Application (Soil and Field Analysis, Crop Monitoring, Health Assessment, Irrigation, Crop Spraying, Aerial Planting) - Global Industry Analysis and Forecast to 2024" at: https://www.psmarketresearch.com/market-analysis/agricultural-drones-market
On the basis of aerial platform, multi-rotor agricultural drones are most commonly used drones among farmers, primarily due to their competitive pricing and are also considered as more user friendly than other types. These drones are primarily deployed for applications, such as crop spraying, crop management, and health assessment. On the other hand, the market for fixed-wing agricultural drones is projected to witness fastest growth, owing to their ability to cover larger areas and carry heavy payloads.
North America generated the highest revenue, accounting for more than 40%, in the agricultural drones market in 2018. This is attributed to the need to raise agricultural output and declining skilled agricultural labors in the region. To overcome the shortage of farmworkers, agricultural drones are being deployed, where these have resulted in improved crop productivity in less cost.
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On the other hand, the APAC agricultural drones market is projected to witness the fastest growth during the forecast period. Due to growing population in the region, the demand for agricultural products is increasing, primarily in countries, such as China, India, Indonesia, where majority of the region’s population is concentrated. This is projected to be a key driving factor for farmers to adopt agricultural drones, as these improve crop productivity.
Recently, the global agricultural drones market has witnessed tremendous growth, where drone manufacturers have shifted their focus on agricultural drones. This has resulted in highly competitive market, with the presence of key players, such as SZ DJI Technology Co. Ltd., AiroVironment Ltd., Parrot Drones SAS, Yuneec International, Drone Deploy Inc., and Yamaha Motors Co. Ltd.
Some of the other players operating in the agricultural drones market are AGCO Corporation, AGEagle Aerial Systems Inc., Trimble Inc., Israel Aerospace Industries Ltd., and Shandong Joyance Technology Co. Ltd.
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Consumer Drones Market
A key trend observed in the consumer drones market is the increasing demand for compact sensors for drone manufacturing. Lightweight sensors for drones include ultrasonic sensors, stereoscopic sensors, spectral sensors, infrared sensors, and LiDAR sensors.
https://www.psmarketresearch.com/market-analysis/consumer-drones-market
APAC Anti-Drone Market
China is the largest market for counter-drones in the APAC region. The country held over 35% share in the APAC anti-drone market in 2017 and is expected to lead the market in the coming years as well. In the last few years, the Chinese government has made significant investments in technology and armed forces to strengthen its defense capabilities. With respect to defense budget, China ranks second in the world, trailing the U.S. Besides, 7 of the world’s top 20 defense companies are located in China.
https://www.psmarketresearch.com/market-analysis/apac-anti-drone-market
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