Agricultural Drones Market growth is driven by increasing awareness regarding the efficiency and advantages of drones. Drone technology has been revolutionizing numerous sectors such as scientific research, entertainment, and astronomy since long. Not to be left behind, the agricultural sector has joined this bandwagon of professional domains as well. Despite numerous technological developments, farming is touted to remain the base of food production, subject to which advanced technology is being deployed of late to improve productivity and crop efficiency.
UAVs embedded with high grade imaging and data analytics will help farmers protect their crops more effectively. When integrated with infrared, hyperspectral, multispectral, or thermal cameras, these UAVs also provide excellent viewability for farmers to help them monitor and analyze their crops and make timely decisions. This will augment software based agricultural drones market over 2017-2024, subject to the fact that imaging software helps process pictures taken by the camera-mounted drones.
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The companies are investing in UAVs to capture the business early with an enhanced product portfolio. For instance, DuPont invested in drone technology provider PrecisionHawk to include drone technology in its portfolio. The companies are exploring value-added services other than drone manufacturing and crop spraying. The value-added services include data collection, farm management, training, and leasing of UAVs. Higher purchase cost, limited fly time & flight range, and weather dependency are some of the challenges faced by agricultural drones market.
The three key advantages of using drones in agriculture are that they improve crop efficiency, supply plenty of useful information in less time, and provide myriad environment friendly benefits. Farmers and landowners are becoming increasingly aware of these benefits and are working toward utilizing the same for farming, thereby impacting agricultural drones market. The tremendous development of precision farming market will also fuel the industry growth over the next six years. Subject to the benefits of drones, the government as well as private bodies have been investing in UAVs (unmanned aerial vehicles) to make full use of their potential for farming.
With the rising popularity of automation, farmers and agricultural workers are willing to implement advanced technologies such as drones in their farming techniques to obtain superior quality crops and enhance productivity, thereby stimulating agricultural drones market. Drones optimize crop management and help take photographs of the fields as well. The incorporation of GIS and GPS in UAVs for efficient positioning and to obtain precise information about the crops and soil will also help agricultural drones market reach an estimated revenue target of USD 1 billion by 2024.
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Asia Pacific Agricultural Drones Market is fueled by technological advancements, government funding, and increasing adoption. In China, the government has included agricultural drones as national subsidized agricultural machinery to increase its adoption. As per the Ministry of Agriculture, China, the agricultural UAV ownership number crossed 4,800 in 2016, which is double the number in 2015. The other agriculture dominated countries in Asia Pacific are expected to contribute to the agricultural drones market growth owing to the increasing usage of this product to improve the yield.
Glimpse of Table of Content (ToC)
Chapter 3. Agricultural Drone Industry Insights
3.1. Industry segmentation
3.2. Industry size and forecast, 2013 – 2024
3.3. Industry ecosystem analysis
3.3.1. Distribution channel analysis
3.3.2. Vendor matrix
3.4. UAV vs. manned aircraft/satellite
3.5. Drone advantages over other aerial imaging systems
3.6. Technology & innovation landscape
3.6.1. UAV industry overview
3.6.2. Multispectral camera
3.6.3. Infrared camera
3.6.4. Thermal camera
3.6.5. LiDAR camera
3.6.6. High resolution camera
3.6.7. Navigation system
3.6.9. Geographic Information System (GIS)
3.7. Regulatory landscape
3.8. Industry impact forces
3.8.1. Growth drivers
3.8.2. Industry pitfalls & challenges
3.9. Growth potential analysis
3.9.1. Business models
3.10. Porter’s analysis
3.10.1. Supplier power
3.10.2. Buyer power
3.10.3. Threat of new entrants
3.10.4. Threat of substitutes
3.10.5. Internal rivalry
3.11. Competitive landscape, 2016
3.11.1. Strategy dashboard
3.11.2. Patent analysis
3.12. PESTEL analysis
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