South Korea Agriculture Drone Market to Grow at a CAGR of 12.5% During 2024-2032, Driven by the Growing Adoption of Smart Farming Practices to Increase Agricultural Productivity

In 2020–22, the producer support estimate (PSE) for agriculture accounted for 46% in South Korea. To optimise crop management, resource allocation, and sustainable farming techniques, South Korea’s agriculture sector has employed drones. In South Korea, drones are used for about 30% of agricultural spraying.

The South Korea agriculture drone market expansion is being fuelled by the rising adoption of precision and smart agricultural practices. Drones play an essential role in revolutionising the agricultural sector by supporting resource optimisation, facilitating real-time agricultural monitoring, and supporting mapping and surveying activities.

The integration of innovative technologies such as machine learning and artificial intelligence in drones is supporting farmers make informed decisions while reducing overall wastage and chemical consumption. Hence, the growing adoption of sustainable agriculture practices is favouring the market growth.

Various companies in the market such as AeroVironment Inc. (NASDAQ: AVAV) and DJI Agriculture are attempting to promote the application of agriculture drones in South Korea. For instance, in February 2020, DJI Agriculture signed an exclusive agreement with Syngenta Korea to promote the development of technical standards for the drone-based application of pesticides.

In October 2023, South Korea's Cheonpoong Co., Ltd. and its dealers in Jinju and Jeongeup collaborated with Heilongjiang Huida Technology Co., Ltd. ("HUIDA TECH" for short), a leading manufacturer of agricultural drones, tractor autopilot systems, and intelligent water-saving irrigation systems in China. The collaboration was aimed at conducting smart agricultural machinery product demonstrations for the employees of agricultural machinery agencies and related civil servants.

Scientific and technological breakthroughs in agriculture were seen in the product demonstrations, which included 408 Beidou navigation farm machinery autopilot systems and HD540Pro agricultural drones. The latter boasts ease of operation as well as comprehensive and stable performance, enhancing the safety of farmers and the environment.

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Market Analysis by Offering, Component, and Application:

• The market, on the basis of offering, can be divided into hardware and software and services.

• Based on component, the market can be segmented into frame, camera system, controller system, battery, propulsion system, and navigation system, among others.

• The different applications of agriculture drone include precision farming, livestock monitoring, precision fish farming, and smart greenhouse, and others.

Key Findings of the Report:

• In South Korea, modern farming practices emphasise "smart" farming and cutting-edge technology, such as the smart farm dispersion method, to enhance crop cultivation conditions and increase agricultural productivity. As a result, the application of agriculture drones is increasing.

• The demand for high-quality food with nutrition and ingredients is rising. By permitting precise pesticide treatments and minimising crop loss, drones can be extremely helpful in maintaining food safety.

• Continuous advancements in drone technology, such as the incorporation of sensors, navigation, and expansion of capacity, drive the South Korea agriculture drone market growth.

• Falling fertility rates and an ageing population create a demand for automation in agricultural operations to minimise physical labour and labour shortages. By 2026, 20% of the total population of South Korea will be 65 years of age or older.

Key Offerings of the Report:

• The EMR report gives an overview of the South Korea agriculture drone market for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the offerings, components, and applications of agriculture drone in South Korea.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the South Korea agriculture drone market are SZ DJI Technology Co., Ltd, Preneu Co. Ltd., Helsel Co., Ltd, GiantDrone Co., Ltd, UconSystem Co., Ltd, and XAG Co., Ltd, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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