Asia-Pacific Agricultural Drone Market: Current Analysis and Forecast (2022-2028)
$3499 – $7077
Emphasis on Drone Type (Fixed Wing, Multi-Rotor, Hybrid); Application (Field Mapping, Agricultural Photography, Crop Spraying, Crop Monitoring, Soil Monitoring, Others); Region/Country
Detailed Analysis of COVID-19 Impact on the Asia-Pacific Agricultural Drone Market
The Asia-Pacific Agricultural Drone is Expected to Display an Elevated CAGR over the forecast period (2021-2028)
The market for agricultural drones in the Asia-Pacific region is uplifting on account of the key factors such as tee high rate of adoption of smart agriculture techniques, rapidly increasing population, and availability of arable farms. Also, the government support through subsidies coupled with the funding to the start-ups is a major factor driving the adoption of agriculture drones in APAC. For instance, In 2021, Chinese agricultural drone startup EAVision Technologies said it raised US$30 million in a Series C round led by Singapore’s Temasek, CITIC, and agri-food tech VC Bits x Bites. Also, the government in India announced a 100% subsidy for agriculture institutes to buy drones for crop assessment, digitization of land records, and spraying of insecticides.
Furthermore, the increasing adoption of drones for crop spraying applications resulting in an increase in the yield and reducing the wastage in spraying fertilizers & pesticides is acting as a growth catalyst in the industry. Farmers are increasingly implementing this technology to gain better productivity and to increase the efficiency in the usage of water, land, and fertilizers. Moreover, the technological advancements, including sensors, better materials, and imaging capabilities, are also expected to drive the agricultural drone sector in the region. However, a lack of awareness and a limited number of skilled professionals are restraining the growth of the market.
Also, surging seed or series funding in the industry is propelling market growth. In June 2020, Singapore’s enterprise development agency announced that it had set aside more than US$40 million to help local agriculture and aquaculture companies build new capabilities. In 2021, Singapore’s national water agency PUB is deploying autonomous drones at six of the country’s reservoirs to monitor water quality and other activities following trials last year.
Projected Drone Technology Investment, by Selected Country 2017-2021 (US$ Bn)
DJI, Precision Hawk, Trimble Inc, Parrot Drones, 3DR, AeroVironment, Inc., Yamaha Motor Corp., DroneDeploy, AgEagle Aerial Systems, Inc, OPTiM Corp, etc., are some of the prominent players operating in the Agricultural Drone market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with innovative products.
Insights Presented in the Report
“Amongst drone type, multi-rotor segment grabbed major market share”
Based on the drone type, the market is fragmented into Fixed Wing, Multi—Rotor, and Hybrid. The Multi-rotor segment grabbed XX% market share and dominated the market in 2020. The market of this segment would reach USD XX Mn by 2028. Rotary wing drones are extensively used for numerous farming applications owing to their excellent structural benefits. The multi-rotors have an advantage in terms of vertical takeoff and landing (VTOL), without needing any additional space for flight, for carrying heavy payloads. Multi-rotor drones can also fly for longer hours, especially for image capturing, aerial photography, and precision spraying. However, the hybrid segment would witness a robust CAGR in the forthcoming years.
“Amongst application, field mapping segment to grab considerable market share”
Based on the application, the market is fragmented into Field Mapping, Agricultural Photography, Crop Spraying, Crop Monitoring, Soil Monitoring, and Others. The field mapping segment grabbed XX% market share and captured USD XX Mn market in 2020. The key benefits such as a timely collection of geospatial information regarding plant or soil properties and requirements, and later applying and prescribing site-specific treatments to increase productivity while protecting the environment at the same time is contributing to the growing market of this segment
“China represents one of the largest markets of Asia-Pacific Agricultural Drone market”
For a better understanding of the market adoption of the Agricultural Drone Market, the market is analyzed based on its presence in the countries such as China, Japan, India, Australia, Singapore, and the Rest of APAC. China grabbed XX% market for the Agricultural Drone Market industry and generated revenue of USD XX Million in 2020. The emerging number of players in the country coupled with the growing adoption of drones in the agriculture sector is contributing to the market growth. About 70% of the world’s civilian drone market is supported by China, with about 1200 drone manufacturers in 2019, up from 130 manufacturers in 2013
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- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
- The report presents a quick review of overall industry performance at one glance
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive regional level analysis of the industry
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|1.4.||Currency used in Report|
|2.1.||Research Process of the Asia-Pacific Agricultural Drone|
|2.2.||Research Methodology of the Asia-Pacific Agricultural Drone|
|2.5.||Main Objective of the Asia-Pacific Agricultural Drone Study|
|5||ASIA-PACIFIC AGRICULTURAL DRONE COVID-19 IMPACT|
|6||ASIA-PACIFIC AGRICULTURAL DRONE REVENUE, 2020-2028F|
|9.6.||Rest of Asia-Pacific|
|11||ASIA-PACIFIC AGRICULTURAL DRONE OPPORTUNITIES|
|12||ASIA-PACIFIC AGRICULTURAL DRONE TRENDS|
|13||LEGAL & REGULATORY FRAMEWORK|
|14.1.||Demand Side Analysis|
|14.2.||Supply Side Analysis|
|14.2.1.||Top Product Launches|
|14.2.2.||Top Business Partnerships|
|14.2.3.||Top Business Expansions, Investments and Divestitures|
|14.2.4.||Top Merger and Acquisitions|
|15||VALUE CHAIN ANALYSIS|
|16.1.1.||Company Shares, By Revenue|
|17.7.||Yamaha Motor Corp.|
|17.9.||AgEagle Aerial Systems, Inc|
Analyzing the historical market, estimation of the current market, and forecasting the future market of the Agricultural Drone Market were the three major steps undertaken to create and analyze the demand for Agricultural Drone across major countries. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Agricultural Drone market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/ bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
A detailed secondary study was conducted to obtain the historical market size of Asia-Pacific Agricultural Drone through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Asia-Pacific Agricultural Drone market, we conducted a detailed secondary analysis to gather historical market insights and share products and flavors for major regions. The major segments included in the report are the product. Further region and country-level analyses were conducted to evaluate the overall adoption of Agricultural Drone across the Asia-Pacific region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Agricultural Drone. Further, we conducted factor analysis using dependent and independent variables such as rising demand for food production and consumption, increase in venture funding for the development of agriculture drones, etc., A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the Agricultural Drone industry across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Agricultural Drone market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weightage was assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e. bottom-up/ top-down approach was applied to arrive at the market forecast about 2028 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (US$) and the adoption rate of Agricultural Drone across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the Agricultural Drone market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the Agricultural Drone market. Data was split into several segments sub-segments post studying various parameters and trends in the areas of product and flavor of the Agricultural Drone market.
Main Objective of the Agricultural Drone Market Study
The current & future market trends of Agricultural Drone were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of Agricultural Drone in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of drone type, application, and country
- Define and analysis of the regulatory framework for the Asia-Pacific agricultural Drone industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the Asia-Pacific Agricultural Drone market for the major countries
- The major countries studied in the report include China, Japan, India, Australia, Singapore, and the Rest of the Asia-Pacific
- Company profiles of the Asia-Pacific Agricultural Drone market and the growth strategies adopted by the market players to sustain in the fast-growing market
Deep dive regional level analysis of the industry