While it’s always been clear that using drones to collect site-specific precision agriculture data has been cost-effective, it has been difficult to calculate the real ROI. Thanks to the American Farm Bureau Federation and Measure, we now have a clear picture.
The ROI Calculator quantifies the economic benefits of Drone as a Service for three applications: field crop scouting, 3D terrain mapping, and crop insurance. It initially covers three of the largest production crops — corn, wheat, and soybeans — allowing growers to quickly and easily determine if drone technology warrants further exploration after they input information about their farm into the ROI Calculator. For example, the findings show that for the average U.S. farmer using Drone as a Service to enhance crop scouting, ROI is $12 per acre for corn, $2.60 per acre for soybeans, and $2.30 per acre for wheat.
“While lots of drone hardware has been sold to farmers, until today no tool existed to help growers actually quantify whether the benefits exceed their costs, especially when farmers want to outsource these types of services. Working with the Farm Bureau and our partners, we have created the only ROI Calculator for drone use in precision agriculture,” said Justin P. Oberman, President of Measure. “This tool will help growers understand how drone technology can improve their performance for the benefit of consumers in the U.S. and around the world.”
“This study and the ROI Calculator will help make drones a reality for farmers and ranchers,” said Julie Anna Potts, Executive Vice President and Treasurer of the American Farm Bureau. “Every year we must feed more people on the same fields while protecting the environment we all share. Precision agriculture and drones in particular will be an important part of executing on that mission.”
A fact sheet is available here.
“Measure was founded specifically to help customers avoid the capital expense and operating risks of establishing their own drone programs and to purchase drone support in a way which better fits their operations and cost profiles. In a market largely comprised of manufacturers, Measure is the model for how drone services will develop and grow in the future.”
Brandon Torres Declet, CEO & Co-Founder