The start-ups are focusing on providing hardware and software and services that will cover about 80% of market.
The Universities, technical institute and different organizations are organizing various programs to provide
guidance for operating UAV’s, which is expected to propel market. Government regulation and lack of trained
pilot in some regions may act as barrier to market growth.
The market, based on products is fragmented into rotary blade, fixed wing and hybrid. The emerging need to
carry heavy payloads will help fixed wing UAVs to dominate the industry over forecast period.
The capability of hybrid UAV’s such as covering long distance will help them to grow with a CAGR of 40% from
2016 to 2024. Compared to manned aircraft, the UAV’s are capable to monitor field areas with ease which will
have positive impact on market growth.
The crop scouting application is projected to witness a significant growth over the projected period
The Application segment is divided onto Variable rate application, field mapping, crop scouting and others. In
2015, among these, the filed mapping segment dominated the business in terms of revenue. Farmers striving
hard to increase productivity of crops by making use of advance technology is expected to drive field mapping
Segment.
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The drones are capable of spray fertilizers accurately without causing any problem can act as important factor
in growth of Crop scouting segment in next seven years. In addition the development of Normalized Difference
vegetation Index (NDVI) is expected to help crop scouting to contribute more in market. NVDI makes use of
near-infrared sensor that is use to capture data that cannot be captured by human eye.
The Asia Pacific region is expected to witness a significant growth from 2016 to 2024
Asia Pacific agriculture drone industry will have a compelling growth among different regions over the forecast
period. The emerging economies in these regions are constantly investing in R&D to make efficient and
advanced drones. Different companies are developing economical and efficient UAV’s that has vast applications
in farming sector.
The North American region will dominate the agriculture drone industry. The emerging need to increase
productivity and trends of implementing UAV’s is anticipated to influence market growth. The need of precision
farming has led farmers to use UAV’s in farming.