The Market size of the Asia Pacific Agricultural Drone Market in 2023 was USD approximately 900 million and this market is expected to grow at a CAGR of approximately 25% throughout the forecast of 2024-2032
A comprehensive overview of the Asia-Pacific Agricultural Drone market is recently added by UnivDatos Market Insights to its humongous database. The Asia-Pacific Agricultural Drone report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Asia-Pacific Agricultural Drone market. The Asia-Pacific Agricultural Drone report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates Asia-Pacific Agricultural Drone at the global and regional levels.
Market Overview
Drones are one of the most developed robotics technologies, that are being used in the agriculture sector. With the rapid technological breakthrough, farmers are opting for agricultural drones to enhance their agricultural productivity. Being one of the newest and most efficient tools in agriculture, they assist the farmers in a wide range of tasks from analyzing and 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 across the world are expected to allow large and small operations to aid in effective farming practices
The rising population coupled with the growing need for food is leading to the growing demand for the agriculture drones for various reasons such as crop monitoring, field mapping, crop praying, etc., By 2030, Asia’s population is projected to be 250 million people larger and 65% of the world’s middle-class population will reside in Asia-Pacific. Asia-Pacific is a major component in the current global food chain, accounting for 19% of total global food and agriculture exports, and 31% of total food and agriculture imports.
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COVID-19 Impact
Covid-19 has impacted all sections of society and industry. As drone procurement is a direct proponent of the demand arising from the end-user industries, Covid-19 has impacted the drone industry in both positive and negative ways. The ongoing global economic slowdown is anticipated to result in a subsequent decline in the demand for drones from end-user sectors. Companies located in Asia-Pacific are more vulnerable to supply chain disruptions and are projected to face operational constraints and high financial risk exposure due to supply chain bottlenecks. Drones have brought a change in the last-mile delivery market from delivering essential drugs to remote areas and rural communities.
The Asia-Pacific Agricultural Drone Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
The fixed-wing segment grabbed X% market share in 2020. The market of this segment would each to USD X Mn by 2028. Fixed-wing agriculture drones are the best choice to monitor the field. They are primarily used when to lot of ground needs to be covered at a fast pace. It has been observed that fixed-wing agriculture drones can cover up to 10 times the acreage that a typical quadcopter can cover in a single flight
The field mapping segment grabbed X% market share in 2020. The market of this segment would reach USD X Mn by 2028. The key benefit such as drones provide instant mapping services that help create and process maps while in the field, regardless of the season, topography, or ground conditions is contributing to the growth of this segment
Based on the estimation, China grabbed X% market share in 2020. Emerging capital venture interest in the industry is also propelling market growth. 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
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The degree of competition among prominent regional companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Asia-Pacific Agricultural Drone market. The leading players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
What are the latest trends, new patterns, and technological advancements in the Asia-Pacific Agricultural Drone Market?
Which factors are influencing the Asia-Pacific Agricultural Drone market over the forecast period?
What are the global challenges, threats, and risks in the Asia-Pacific Agricultural Drone Market?
Which factors are propelling and restraining the Asia-Pacific Agricultural Drone Market?
What are the demanding global regions of the Asia-Pacific Agricultural Drone Market?
What will be the global market size in the upcoming years?
What are the crucial market acquisition strategies and policies applied by global companies?
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Research Methodology:
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:
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