1. Increasing Adoption of Precision Farming and Rising Investments in the Agricultural Sector to Drive the Market
Precision agriculture is a farm management approach that uses information technology to ensure that the soil, as well as the crop, receives the optimum amount of nutrients needed to maximize the production. Various sensors in the field, such as satellite and robotic drones, provide data and images, which help the farmers take immediate decisions related to providing the fertilizers, water, or crop protection chemicals that are needed by the crop to function normally. This data can be an important help for the farmers in taking future decisions as well.
2. North America Expected to Lead the Market
North America currently produces the maximum number of UAVs in the commercial sector in general and in the agricultural segments in particular. As per the Association for Unmanned Vehicle Systems International (AUVSI), agricultural drones are expected to capture 80.0% of the market for commercial UAVs; they also have the prospect to create more than 100,000 jobs in the United States. The North American market represents a large potential for satellite-based devices and equipment. Satellite-based augmentation systems (SBAS) had the deepest penetration in North America in 2016. VRA seeding and spraying of pesticides, as well as remote sensing, are increasingly being adopted in North America.
3. Most Companies Focusing on New Product Development
Major companies are launching new products in different parts of the world, in order to enhance their market shares and brand values. For instance, in 2017, DJI launched the MG-1S in Paris. Similarly, Yamaha also launched YMR-01 multi-rotor drone in Japan in 2018. In 2018, Sentera, a supplier of drone-based remote sensing, analytics, and IoT solutions to the agricultural sector, launched the AGX710, a gimbaled precision agriculture sensor, with plug-and-play integration for DJI’s Matrice 200 Series quadcopters.
4. Key Players to Look out for in Agricultural Drones Market
3D Robotics Inc.
Eagle UAV Services
Honey Comb Corp.
Trimble Navigation Limited