Agriculture Drone Market to Hit Revenue of US$ 14,237.6 Mn

The global agriculture drone market is estimated at US$ 3,807 million in 2023. It is expected to expand at an impressive CAGR of 14.1% during the forecast years of 2023-2033.

Drones are being used in many ways to help farmers. From being able to seed planting, crop mapping and spraying drones make life a whole lot easier. Drones are essentially flying cameras and do real-time livestock monitoring. This is useful when the farmer as the pilot can now have an aerial view of the location. It can help with irrigation monitoring and management.

Many people find it hard to cast a line more than 50 feet away from where they are standing. Drone Casting is actually the main thing people use drones for while farming. Agriculture drones were originally developed to get timely information and to enhance decision-making through accurate.

Owing to the above factor, the demand for agriculture drones will be highly lucrative in the anticipated year. This is going to happen through sales of agriculture drones through various sales channels. This will create a plethora of opportunities to directly reach out to the consumer around the world period.

Key Takeaways from Market Study

• The global agriculture drone market is projected to expand at an impressive CAGR of 14.1%. it will be valued at US$ 14,237.6 million by 2033
• The market witnessed 7.2% CAGR for the period of 2018-2022
• Under Offering, fixed wing agriculture drone will dominate the market and are valued at US$ 795.7 million in 2023
• North America and Europe will dominate the market with 32.1% and 36.1% market share in 2023
• By coverage distance, 6-9 Km coverage distance drone is likely to represent 32.1% market share in 2023
• Agriculture drone sales due to 3-6 Km coverage distance is expected gain maximum share of 28.3% in 2023

“Increasing Use of Rotary Wing Drone in Farms for Fertilizer Spraying will Provide Stable Revenue Opportunities” says a Fact.MR analyst.

Market Development

Many industries, research institutions and start-ups started working on drones to harvest their potential in agriculture including soil and crop nutrient spraying.

Asia region has the key manufacturers and highest CAGR over the course of the projection period, however increasing regulations by the government will hamper the market growth. Due to that, market players may want to shift their focus to other developing countries such as India, Canada, Germany, and others.

These insights are based on a report on Agriculture Drone Market by Fact.MR.