According to a market research report published by Global Market Insights, the agricultural drones market size was valued over USD 135 million in 2015 and is anticipated to achieve over USD 555 million at a CAGR of 21% from 2016 to 2023. The potential benefits associated with these machines include improve yields and save water. In addition, drones may even assist the government to manage farming more effectively and efficiently by monitoring the usage of pesticides.
U.S. agricultural drones market share accounted for around 22% in 2015 and is anticipated to reach USD 250 million over the forecast period. Unmanned Aerial Vehicle (UAV) detects specific light wavelength related to walnut blight disease, allocating pest managers or farmers in order to counter the issue which in turn reduces crop damage as well as improves productivity. UAVs are easy to fly, with a hand-held, video game-like controller. It captures videos and pictures of fields, livestock operations and orchards with high resolution.
Asia Pacific agricultural drones market size was valued USD over 32 million in 2015 and is likely to attain USD 135 million by 2023 at CAGR of 22% during the coming few years.
Based on types, the global agricultural drone market can be bifurcated as quadcopters as well as fixed wing aircraft. Commercial agricultural drone market is anticipated to grow significantly owing to aircrafts are able to perform more cost efficiently than other ways of ranching, orchard tending and farming. It is likely to help farmers improve livestock and crop quality. It also yields to increase productivity which in turn feed the growing population.
Commercial drone market is anticipated to be valued over USD 2 billion by 2023, growing at 19% over the forecast period. High investment from emerging economies in these machines is likely to surge the demand.