Market Definition:
The global agriculture drone market was valued at USD 193.4 Million in 2015. Agriculture drones have the ability to collect high quality data and are easily processed with data processing tools.
Farmers are increasingly adopting the technology in farming process for attaining better efficiency and productivity, and for efficient use of land, water and fertilizers. Increasing awareness for precision farming is also expected to drive the market growth over the forecast period.
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Market Growth and Analysis:
The application of UAVs in crop monitoring has enhanced the crop yields and has also influenced the industry in funding the UAV-based startups. The startups in the industry are majorly focusing on developing software and hardware accounting for more than 75% of the market. From crop monitoring to automate planting and real-time monitoring, the technology is expected to play an significant role in farming over the forecast period.
Although, stringent government regulations and lack of trained pilots is expected to hinder the industry growth. The universities and institutes developing the technology have started the programs dedicated for guiding and training for operating UAVs will further positively influence the market growth.
Recently, Aerodyne and non-profit group Meat & Livestock Australia have announced a USD 5.1 Million R&D program “Drone as a Silent Service”. The new program will research on 9 focal points which include fence monitoring, herd location, weed location, bull tagging, feedbase monitoring, feral control, feedlot, water monitoring, and tagless ID.
Market Segment:
Based on the products, the market is categorized into fixed wing, rotary blade and hybrid. The fixed wing is estimated to acquire the major share in the industry owing to their capability to cover long distance and to carry heavy payloads. However, hybrid drones are anticipated to witness significant growth over the forecast period.
The application is further segregated into field mapping, variable rate application, crop scouting and others. Field monitoring is estimated to dominate the market in terms of revenue, owing to benefits such as increased yield by analyzing and monitoring the fields. However, crop scouting is expected to witness significant growth owing to their ability to spray fertilizer accurately.
Key Players:
Few major players in the market include AECOM India and Hyperloop India, DGWHyperloop which are working on the hyperloop technology. Furthermore, a non-profit consortium of volunteers and organizations are also involved in recreating the transportation in India. In August 2015, BITS Hyperloop which is a fully funded Indian team among the 120 teams are selected globally for presenting their designs at the 2016 SpaceX Design Weekend.
Hyperloop India has now decided to constitute a team of students and faculty from BITS Pilani, IIM Ahmedabad, Indian School of Business consulting for logistics, transportation, and infrastructure. The company is also planning to include data specialists from organization such as NITI Aayog, RITES, SocialCops and DP World India for the hyperloop technology.
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Regional Analysis:
In Asia Pacific, countries such as China, Japan and Australia are expected to drive the industry whereas Japan dominated the regional market. In the rest of APAC countries such as New Zealand and India are projected to witness stable deployment of drones over the forecast period.
Furthermore, the drone market is projected to be driven by the North America region whereas Europe region is estimated to acquire major share in the industry. The technology enables the farmers to gather the information on real-time and is thus giving a high-technology makeover to the agriculture industry.
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