The global agriculture drone market was valued at USD 4.98 billion in 2023 and is anticipated to grow to USD 6.10 billion in 2024. By 2032, the market is projected to reach USD 23.78 billion, registering a compound annual growth rate (CAGR) of 18.5% during the forecast period. In 2023, Europe emerged as the leading region, holding a 30.52% share of the market.
The agriculture drone market is experiencing rapid growth, driven by increasing demand for advanced technologies to enhance farming efficiency and productivity. Drones are being widely adopted for applications such as crop monitoring, field mapping, spraying, and precision agriculture. The market is expected to expand significantly over the coming years, supported by technological advancements, favorable government policies, and rising awareness of smart farming practices. Various regions are contributing to this growth, with some leading in terms of market share and innovation.
List of Key Players Mentioned in the Report:
Information Source:
https://www.fortunebusinessinsights.com/agriculture-drones-market-102589
Segmentation: Agriculture Drone Market
Rotary Drone Segment to Dominate Due to Improved Structural Benefits
Based on type, the market is split into fixed wing, rotary wing, and hybrid. Among these, the rotary wing segment captured the largest agriculture drone market share in 2022. Rotary wing drones are available in a variety of designs and sizes. The enhanced structural benefits of the segment are aiding growth of this segment.
Hardware Segment to Lead Stoked by the Improved Ability to Collect and Process Data
As per component, the market is bifurcated into hardware and software. The hardware segment held majority of the global market share in 2022 owing to the improved capability of hardware components to collect and process the data and enable farmers to make informed decisions.