Global Forestry and Agriculture Drones Market Size Analysis, 2018-2028

Global Forestry and Agriculture Drones Market Size is estimated to be valued over USD 460 million in 2018 and will register a CAGR of above 37% to create high revenue opportunity during the forecast period.

The agriculture sector has always been at the forefront of business strategy for drone manufacturers and service providers. There is a very high business potential for manufacturers as drone adoption rate to carry out crop surveillance and protection is still below 1.3%. The industry registered impressive 55% cumulative growth between 2015 and 2017. It is expected to carry out same growth momentum for another ten years.


Forestry and Agriculture Drones Market is Highly Consolidated with DJI Accounting for 65% of Global Share

Increase in demand for agriculture drones has led to exponential production. The industry is consolidated with DJI accounting for over 65% of global revenue share in 2017. Various leading companies are offering large scale funding to manufacturers to scale their business operations. Recently, in August 2015, Intel invested US$ 60 million in Chinese drone manufacturer Yuneec. As a result, competition has intensified in last two years.

To know more and get a sample of the report click here:
https://bekryl.com/forestry-agriculture-drones-market-size-analysis

Companies are Focusing on Strategic Partnership to strengthen their Business Presence in Agriculture Drones Market

Companies are focusing on building strategic partnership beyond national and international barriers to boost technological innovation and create brand reputation worldwide. For instance, DJI has their business alliances in Germany, UK, U.S., India and other parts of world. They have their business relations across value chain ranging from system development to service providers and sales and marketing campaign providers.

The trend is quite similar for most of the engaged companies in agricultural drones market. Strategic partnership will help companies to lower their operational cost and adopt the local marketing channel to enhance their return on investment (ROI).

New Entrants to Emerge in Forestry and Agriculture Drones Market

Adoption of these drones is increasing at a very high rate. Various players are emerging in the market to capture a major chunk of the market, though, at a regional level. These companies are getting funded by investors in order to boost their scalability. For instance, recently, Micasense raised US$ 2 million from Parrot to expand its production capacity in Seattle, U.S.

Other than China and U.S. based players, Japanese companies are also foraying in the market. Japanese companies are setting up their production facilities in Guangdong province of China to ensure long term profit sustainability. Furthermore, technical institutions are providing courses to help startup frame the right business model.

Global Forestry and Agriculture Drones Market Value Analysis, By Product Type

By product type, fixed wing based drones will dominate the global Forestry and Agriculture Drones market throughout the forecast period. Collectively, hardware will dominate the global share accounting for over 68% of global share in 2017.

Higher demand for fixed wing drones is attributed to the fact that they have ability to cover higher acreage area. In addition, they are cost-effective and carry heavy payloads.

Global Forestry and Agriculture Drones Market Size Analysis, By Application

While field mapping will continue to dominate the global agriculture drones market share, crop scouting will register fastest growth during the forecast period. Favorable government policies will help in undertaking drones for these applications on large scale. Recently, in June 2016, the Department of Transportation’s Federal Aviation Administration came up with guidelines for drone operation. The rules eliminate the requirement of pilot’s license for operation. Also, technological advancement will led to lowering in prices of drones – making it affordable for farmers in longer term.

Increase in population has led to global burden on meeting food supply. There will be over 8 billion people by end of 2030. Limited land resource will led to higher emphasis on technological adoption to boost agricultural yield. As such, conventional farming will be replaced with smart farming model. There will be large scale adoption of drones to not only analyze the farm but also help in other activities related to crop scouting.

Global Forestry and Agriculture Drones Market Size and Forecast: Regional Analysis

Currently, North America holds the largest market share. However, will lose market share to Asia Pacific agriculture drones market by 2022 owing to increased demand in China and India. Asia Pacific is expected to account for 68% of global share by 2025. China alone will account for 60% of regional share in 2025.

ia PAsacific holds higher market potential and addressable market. As per the estimates, less than 1.3% of total potential has been capitalized by agriculture drone market. This will increase upto 1.9% by 2028 – creating very lucrative market opportunity for industry players in the region. Government support will play a key role in overall sales of these drones. For instance, Henan and Hubei province of China are encouraging companies to implement agricultural drones by training assistance to local farmers. Similar such initiative is seen in other parts of developing regions.

China will play a major catalytic growth to overall drones demand. It is the home to world’s top 11 venture capitalist funded drone companies.

Global Forestry and Agriculture Drones Market Size and Forecast: Competition Landscape

Some of the key Forestry and Agriculture Drones market industry players are 3D Robotics Inc., DJI, AeroVironment, Inc., Trimble Navigation Ltd., and DroneDeploy.

The industry is set to register impressive growth during the forecast period. However, there are few challenges that need to be addressed. Currently, drones are highly successful for operations with farmland area less than 15-20 ha. Furthermore, nearly 57% of US farmers are close to retiring age. There is lesser appetite for system upgrades. Companies need to look forward to various geopolitical and economic scenario in order to boost their sales revenue.

Technological advancement will play a major role in overall sales. The industry is highly lucrative. As such, various leading companies are foraying in the market. For instance, In 2014, Google acquired Titan Aerospace, a startup that builds solar powered drones. Similar such developments will be visible in coming years.

Industry Segmentation

By Product Type:

Fixed Wing Drones
Rotary Blade Drones
Hybrid Drones
Nano-type Drones
By Application:

Field Mapping
Crop Scouting
Variable Rate Application
Others

For any other queries reach out to us at
[email protected] 
+1 347 464 1068
https://bekryl.com/