Vietnam Agricultural Drones Market Poised for Remarkable Growth, Reaching USD 18.11 Million by 2028 | Infinium Global Research

The Vietnam Agricultural Drones Market, valued at USD 4.84 million in 2021, is projected to experience extraordinary growth, soaring to USD 18.11 million by 2028, at a robust Compound Annual Growth Rate (CAGR) of 21.10% over the forecast period.

This meteoric rise can be attributed to the country's status as Southeast Asia's second-largest agricultural sector and one of the world's top 5 rice producers. Technological advancements in agriculture and the numerous benefits offered by agricultural drones are driving the market's rapid expansion.

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Vietnam's Thriving Agricultural Sector

Vietnam boasts a robust agricultural sector and is recognized as one of the top 5 rice producers globally. Additionally, the country ranks among the top 3 rice exporters. In 2018, the government of Vietnam set ambitious goals, aiming to become one of the 15 most highly developed agricultural nations worldwide. This initiative provided a substantial push for mechanizing the country's agricultural sector. Among the innovative technologies that garnered attention from the Ministry of Agriculture and Rural Development of Vietnam is the use of agricultural drones. These drones not only enhance agricultural productivity and reduce costs but, more importantly, contribute to environmental protection and improve the quality of farmers' lives.

Recent advancements in electronics, including cameras, mobile hardware, processors, microcontrollers, and modern computing, have transformed the drone product portfolio. These innovations enable companies to create and develop built-in measurement and annotation tools for precise calculations of distance, volume, and area. Consequently, as the volume of data collected from millions of data points continues to grow, the industry now relies on machine learning and artificial intelligence solutions to extract precise results.

Challenges and Opportunities

Despite these advancements, the agricultural sector in Vietnam faces significant challenges. According to the World Bank, the percentage of employment in agriculture dropped from 48.7% in 2010 to 36.23% in 2020, reflecting a shortage of labor supply. Industrialization in Vietnam has lured many young individuals away from agricultural fields, seeking more stable income sources in or around urban areas. Urbanization and rising fertilizer prices have further exacerbated the challenges, leading some farmers to reduce the scale of rice farming. However, innovative solutions, such as the adoption of agricultural drones, are becoming increasingly popular among young farmers looking to maximize crop yields and manage costs effectively.

While agricultural drone technology offers numerous benefits, it also raises concerns about national defense, social security, and aviation safety. In 2019, two passenger planes at Tan Son Nhat and Phu Quoc airports in Vietnam were involved in small drone-related incidents, threatening aviation safety and national security. In response, the Prime Minister issued instructions to the Ministry of National Defense to collaborate with other relevant ministries and agencies in drafting a new decree for the strict management of Unmanned Aerial Vehicles (UAVs) and ultra-light aircraft.

Technological Advancements Fuel Growth

The agricultural drone market in Vietnam is poised for significant growth, driven by technological advancements in unmanned systems. Leading agricultural drone service provider XAG has introduced its large-capacity agricultural drone, P100, in Vietnam. This innovative product supports the transformation of farming into a more productive and sustainable mode. Moreover, ongoing digitization and technological developments in cameras, drone specifications, mapping software, multidimensional mapping, and sensory applications are expected to propel the agricultural drone market's growth in Vietnam during the projection period.

The persistent innovation and the launch of technologically advanced products by industry players have significantly boosted demand for the agricultural drone market in recent years.

In conclusion, Vietnam's agricultural drone market is on an upward trajectory, driven by the nation's vital agricultural sector, technological advancements, and a commitment to enhancing agricultural productivity while addressing challenges and regulatory concerns.

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=> Comprehensive analysis of regional markets of Vietnam agricultural drones.

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=> Comprehensive analysis of the companies operating in this market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and the latest developments of the company.

=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand, and/or diversify.

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