US Agricultural Drone Market: Current Analysis and Forecast (2019-2025)

Report Description

United States Agriculture Drone market was valued at US$ 72.10 million in 2018 and is anticipated to reach US$ 144.8 million by 2025 displaying explosive CAGR of 9.96% over the forecast period (2019-2025). With the rapid technological breakthrough, farmers are opting for agricultural drones to enhance their agricultural productivity. Being one of the newest and efficient tools in agriculture, they assist the farmers in a wide range of tasks from analyzing, planning to the actual planting of crops, and the subsequent monitoring of fields to ascertain the health and growth of crops. Furthermore, surging investments by established players along with the favorable government policies are expected to allow large and small operations to aid in effective farming practices. For instance, in 2016, US investments in agricultural drones and robotic technology amounted to US$ 389 million and approximately 40 companies raised funds. Investors such as Monsanto, Syngenta and Mitsui have backed various emerging start-ups for improving, harvesting, crop spraying and irrigation. The rising trend of implementation of UAVs for enhanced productivity and increasing awareness of precision agriculture for crop scouting and field mapping is expected to drive the adoption of drone in agriculture sector in the US. US has the highest adoption rate of aerial agriculture drones. It has been primarily adopted for crop dusting efficiency over large fields and precision agriculture and farm management. Labor shortages in the country, reduced input requirements and high yield efficiency coupled with various other incentives have been catalyzing factors influencing the growth of agriculture drones in the United States

“Fixed Wing Drone is expected to dominate the US agriculture drone market during the analyzed period.”

Based on drone type, the report segments the US agricultural drone market into fixed-wing drones, multi-rotor drones and hybrid drones. Fixed-wing Agriculture drones hold the maximum market (47.2% share) and are expected to keep its dominating over the forecast period as they provide exact information and ensure the effective monitoring of the agriculture field. Fixed-wing agriculture drones are considered to be the best choice to monitor the field hence, they occupy the lead share in the market.

“Crop spraying as an agriculture drone application dominates the market in 2018 and is expected to dominate the market during the analyzed period.”

Based on application, the market is segmented into field mapping, soil monitoring, agriculture photography, crop spraying, crop monitoring. Crop spraying generated revenue of US$ 19.45 million in 2018. The segment is expected to dominate the US agriculture drone market during the analyzed period as the devices installed to support the farmers by measuring the distances with extreme precision. Application of crop sprayer results in a massive reduction in overall spray and much lower chemical level reaching the groundwater. With the usage of agriculture drones, the farmers can complete spraying jobs about 5 times faster than traditional methods. Crop Monitoring segments are expected to witness highest rate of adoption of drones in the US in coming years.

Commercial and Agriculture Drones Statistics, US, 2017-2022 (Million, Thousand, %)

“Mid-West the largest crop-growing region dominated the adoption of drone in the US agriculture sector in 2018”

For a better understanding of the overall adoption of the agriculture drone in the US, detailed regional level analysis was conducted including North East, Midwest, South and West regions. Among all these regions, the Mid-West region is expected to witness considerable growth over the analyzed period due to increasing technological advancement and infrastructural development in the region.

Competitive Landscape-Top 10 Market Players

Some of the major players operating in the US agricultural drone market include Aero Vironment Inc, Trimble Inc, AgEagle Aerial Systems, Inc., Precision Hawk, Senetra, Drone Deploy, Deveron, DJI, Intel, and John Deere Company. These companies are entering into partnership or investing in R&D to come up with innovative products for the agricultural sector. US agricultural drone market also witnessed emergence of various start-ups in recent past.

Reasons to buy:

• The study includes market sizing and forecasting analysis validated until 2025. The analysis presented in the report is a combination of deep-dive secondary research and input from Key Opinion Leader of the industry
• The report presents a quick review of overall industry performance at one glance
• The report covers 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.
• Examination of industry attractiveness with the help of Porter’s Five Forces analysis
• The study comprehensively covers the market across different segments and sub-segments
• Deep dive regional level analysis of the industry such as North, Mid-West, South and West
• The study also covers the comprehensive region-wise analysis in the United States

Customization Options:

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Research Methodology

Analyzing historical market, estimation of the current market and forecasting the future market for the United States agriculture drone technology were the three major steps undertaken to create and analyze the adoption trend of agriculture drone technologies in the major crop-growing region of United States. Exhaustive secondary research was conducted to collect the historical market numbers to estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were conducted with industry experts across the value chain of the agriculture drone market. Post assumption and validation of market numbers through primary interviews, bottom-up approach was employed to forecast the complete market size of the US agriculture drone market. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the US agriculture drone market through company internal sources such as annual report & financial statements, performance presentations, press releases, inventory records, sales figures etc., and external sources including trade journals, news & articles, government publications, economic data, competitor publications, sector reports, regulatory bodies publications, safety standard organizations, third-party database and other credible publications. For economic data collection, sources such as Trading Economics, Trade Map, World Bank, IMF, FAO among others were used.

Step 2: Market Segmentation:

After obtaining the historical market size of the US agriculture drone market, a detailed secondary analysis was conducted to gather historical market insights and share for different segments & sub-segments for major crop-growing regions in the US. Major segments included in the report are drone type and application. Further analysis was also done for different regions to analyze the overall adoption of the technique in that particular region of the US.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, detailed factor analysis was conducted to estimate the current market size of the US agriculture drone market. Factor analysis was conducted using dependent and independent variables such as the purchasing power of farmers, the size of the farmland and consumer behavior towards the adoption of agriculture drone technology. The demand and supply-side scenario were also thoroughly studied by considering top partnerships, merger and acquisition, business expansion, product launches and analyzing the list of start-ups in the agriculture drone industry in the United States.

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 US agriculture drone market and market shares of these players. 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, weight was assigned to different factors including drivers & trends, restraints, and opportunities available for the industrial stakeholders. After analyzing these factors, relevant forecasting techniques i.e. Bottom-up approach was applied to arrive at the market forecast pertaining to 2025 for different segments and sub-segments in major regions of the US. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value (US$) and penetration rate of agriculture drone technique in the major crop-growing region of the US
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the US agriculture drone industry in terms of their product portfolio, technologies offered as well as market share. 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, and Regional Head, Country Head, etc.) in the US. Primary research findings were 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

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment pertaining to the agriculture drone market in the United States. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of drone type, and application of agriculture drone in the US.

Main objective of the United States Agriculture Drone Market Study

The current & future market trends of the US agriculture drone are pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the US agriculture drone in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments of the technology
• Segments in the study include drone type and application
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors pertaining to the industry
• Define and analysis of the government regulations for agriculture drone in the US
• Detailed analysis of used case study of the agriculture drone technology among the US farmers
• Analyze the current and forecast market size of the technology for the US. Major regions studied in the report include Mid-West, South, North East and the West. Country-level analysis is also conducted in the report

Define and analyze the competitive landscape of the US agriculture drone and the growth strategies adopted by the market players to sustain in the fast-growing market