Exploring agricultural evolution through the lens of the burgeoning newspace industry

The global population is projected to surpass 10 billion by 2060, posing a significant challenge to the agricultural sector. By 2050, global agriculture will need to produce nearly 50% more food than it did in 2012, with production in South Asia and sub-Saharan Africa needing to more than double.

To meet these demands, the agricultural industry is turning to advanced technologies, data, and innovation. The FAO's ambitious strategic framework, the 'Four Betters', places a strong emphasis on these areas. One such technology is satellite imagery, recognised by the FAO as an important example in bringing meaningful progress to agriculture.

Satellite imagery can identify small objects and features that would otherwise go unnoticed, thanks to spaceborne remote multispectral and hyperspectral sensors. These advanced tools can help detect areas requiring urgent remediation for Green House Gas emissions, and can be used for disaster prevention and management, including predicting and monitoring floods, droughts, storms, and wildfires.

However, the agricultural industry may struggle to afford these advanced technologies, making it difficult for farmers to invest in the tools needed to keep the sector moving forward. The cost for hyperspectral images ranges from 2€/km2 for a low-quality image to 35€/km2 for a high-quality image, with additional processing costs.

The cost of crops lost to pests and diseases is estimated to be USD 220 billion annually. With traditional farming models reaching their limits, innovative solutions are needed to address these challenges.

Significant shifts in dietary preferences are expected, leading to higher consumption of meat, dairy, fruits, and vegetables. This shift, coupled with the need for increased food production, puts pressure on the agricultural sector to find sustainable and efficient solutions.

In 2020, the FAO set up an open-access platform to supply geospatial data, tools, and resources for agriculture, forestry, fisheries, and food security. This platform already helps countless industry experts, economists, farmers, and educators extract substantial value from the skies.

The most viable short-term solution for funding these advancements may be through Public-Private Partnerships (PPP). However, securing such funding requires proposing innovative, sustainable, and efficient solutions aligned with EU priorities and demonstrating measurable impacts through KPIs.

The farming model adopted by higher income countries in the 1950s is reaching its limits, with wheat, maize, and barley yields plateauing in many parts of the world. Climate change poses a significant threat to agricultural production, including changes in temperature and precipitation, extreme weather events, sea level rise, etc...

Large agrifood companies and government agencies may provide funding for these advancements, but the private sector may shift its attention to more lucrative industries. The most likely financers for technological advances in agriculture addressing current challenges include European Union grants supporting SMEs, startups, research centers, and NGOs with funds up to 50,000 euros for AI and IoT innovations, as well as investors in the Agtech sector such as Blue Horizon, High-Tech Gründerfonds, and networks like Agri-Tech East.

The FAO's satellite imagery platform is already making a difference in the agricultural sector. With continued investment and innovation, it has the potential to help feed the growing global population sustainably and efficiently.

Exploring agricultural evolution through the lens of the burgeoning newspace industry