John Deere Industrial Equipment presented at CES to identify and support current and possibly new technologies to agriculture to improve productivity, profitability, and sustainability. John Deere was honored in the Robotics category of the 2021 CES Innovation Awards, which recognizes outstanding product design and technology in consumer tech products. This is the second subsequent year John Deere has obtained a CES Innovation Award. X Series Combines
X Series Combines
John Deere is a CES Innovation Award Honoree for the new X Collection blends outfitted with ActiveVision camera technologies, which helps farmers see within the combine’s grain tank and see tailings to monitor the status of harvested grain, right down to individual kernels. This technology is driven by proprietary algorithms and gives farmers information to make crucial decisions and collect data over time to inform future activities.
“John Deere is honored to get this award as it highlights our continuing commitment to agriculture, technology, and innovation,” stated Jahmy Hindman, Chief Technology Officer for John Deere. “The award honors our efforts to manufacture cutting-edge smart machines, solutions, and systems that unlock consumer economic value through improved precision, automation, speed, and efficiency previously not feasible.”
The X9 1100 is the biggest John Deere X Series combines and helps Farmers harvest quicker without risking grain reduction or quality. These machines may thresh, separate, and clean more bushels per hour harvest more acres each day–even under unpredictable situations. Compared with previous versions, the X9 1100 can harvest up to 70 percent more wheat per hour.
The computer vision, artificial intelligence, in-field machine-to-machine communication, integrated sensors, and self-driving capabilities included on the X Series help increase harvesting productivity potential. By way of instance, the mix can automatically adjust itself to accommodate changing conditions to operate at peak levels while assisting farmers with in-the-moment decision making. The combinations monitor themselves and empower farmers and John Deere service technicians to handle concerns remotely, minimizing downtime and encouraging profitability.
The CES Innovation Awards program is a yearly competition honoring outstanding design and technology in consumer tech products. The robotics class highlights programmable or intelligent machines capable of performing particular tasks or replicating human motion or interactions. Products are reviewed and ranked by a panel of judges comprised of designers, engineers, and technology media. Products can also be evaluated on their technology and performance, aesthetics and design, and what makes the product unique and innovative.
“Technology and innovation are at the heart of how John Deere helps farmers overcome risk and enhance efficiency,” said Hindman. “To make our clients the most lucrative and sustainable farmers in the world, John Deere challenges the status quo to provide intelligent, highly autonomous, and connected machines, like our X Series unites that unlock possibilities for them to make more informed and accurate decisions in scale, which then supports the larger goal of feeding a growing world population.”
R4038 Self-Propelled Sprayer
John Deere again exhibited at the Consumer Electronics Show (CES) in Las Vegas, billed as the world’s biggest technology event. As part of its display, Deere has its R4038 self-propelled sprayer outfitted with innovative technology and outfitted with an ultra-wide 120-ft. carbon-fiber boom.
Among the important reasons Deere is exhibited at CES 2020 was identifying and encouraging current and potential new technologies to agriculture to improve farm productivity, sustainability, and profitability. Based on Laurel Caes, public relations director for John Deere, firm staff was on hand to describe the ag technology on display to the technology audience in attendance and emphasize the important role technology plays in feeding an increasing world population. “Exhibiting at CES assists John Deere stays connected to technology advancements and deliver the best solutions possible to our clients,” Caes states.
The technology industry is taking note of Deere’s presence at CES. Last year, John Deere was admired for its new 8RX Tractor in the Tech for a Better World-class of the CES Innovation Awards, which recognizes outstanding product design and technology in consumer tech products. “Our focus stays on providing innovative solutions to help clients meet the numerous challenges of farming. We’re humbled by this award from a major technology organization since it recognizes our dedication to agriculture, technology, and innovation,” says John Stone, Senior Vice President of John Deere’s Intelligent Solutions Group.
For CES 2020, John Deere brought even more agriculture into the series, according to Caes. It’s a terrific opportunity for those in the technology industry to visit together and to know more about how their food is produced and the essential role technology plays and will continue to play in placing food on their tables.”
CES 2021 will be an all-digital, virtual format this year to enable the Tech community to safely discuss ideas and present products that can help shape the future. CES showcases companies including suppliers, manufacturers, and developers of consumer technology hardware, technology delivery systems, content, and much more.
Deere Issues Strong 2021 Forecasts Fueled by Enhancing Farm Market
Net earnings of $757M in the fiscal fourth quarter, or $2.39 per share, compared with $722B, or $2.27 per share one year ago. Worldwide net sales decreased 2% Y/Y to $9.731B, a much lower rate than seen in previous quarters due to the coronavirus crisis. Segment Revenue: Equipment -1%; Agriculture & Turf. -8%; Construction & Forestry -16%.
In the year ahead, Deere hopes to benefit from improving conditions in the farm economy and improvement in construction and forestry markets, according to CEO John May. “Higher crop prices and improved principles are contributing to renewed optimism in the agricultural sector and enhancing demand for farm equipment.
At the same time, we’re looking forward to realizing the benefits of our smart industrial working strategy, which is intended to stimulate the delivery of solutions that will encourage improved profitability and sustainability in our clients’ operations.”
For financial 2021, Deere sees global agriculture and turf equipment sales climbing 10%-15% by the 2020 level, while construction and forestry machinery sales are expected to rise 5%-10%. Net earnings for fiscal 2021 are forecast to be in a variety of $3.6B-$4B, compared to guidance issued in May of between $1.6B-$2B.
Deere Updates 2021 Earnings Outlook on Improved Farm Equipment Need
Deere & Co from Moline, Illinois, updated its fiscal 2021 earnings forecast after profit more than doubled in the first quarter improved demand for construction and farm machines, sending its shares higher. The company said higher farm commodity prices and rising exports, coupled with reduced equipment stocks, have boosted farm machines’ demand.
Its early order program for sprayers planters and combines all experienced double-digit development. Orders for big tractors currently extend into the fourth quarter.
To maintain, the world’s largest farm equipment producer has stimulated manufacturing and added shifts at a few of its facilities in the USA and South America. “Ag basics enhanced significantly throughout the first quarter,” Brent Norwood, investor communications director, told analysts on an earnings forecast.
Deere’s shares, which have outperformed the wider market, gained about 12 percent in morning trade and were last up 10.5 percent at $331.90. It expects industry sales of agricultural equipment in the USA and Canada – the provider’s biggest combined market – to grow by 15% to 20% annually.
Improved demand has encouraged Deere’s pricing power, which collectively, with cost control measures, allowed it to deliver the maximum operating margin or the gain Deere makes on equipment sales in business history. Its investment in technology offerings, aimed at decreasing input costs and enhancing user productivity, has enabled it to charge higher prices for big farm machines.
Deere said it’s grappling with high absenteeism levels because of the Coronavirus pandemic and supply constraints for a few digital components. Meanwhile, surging steel costs and elevated freight prices are projected to cost it $500 million in fiscal 2021.
The company now anticipates 2021 net earnings in the range of $4.6 Billion To $5.0 billion, higher than the $3.6 billion to $4.0 billion forecasts earlier. It reported quarterly net earnings of $1.2 billion, or $3.87 per share – the maximum gain in the company history.
Technology Innovations to Drive Agricultural Machinery Market Growth
The International Agriculture and Farm Machinery Market are estimated to reach a value of over the U.S. $342.8 billion by the end of 2027. The International Agriculture and Farm Machinery Market are expected to be valued in the U.S. $342.8 billion by 2027, showing a CAGR of 8.8% during the forecast period (2020-2027), as highlighted in a report issued by Coherent Market Insights.
Technological Improvements Expected To Drive Growth
Growing awareness about the importance of technology in agriculture has resulted in technological innovation. This is due to the increasing adoption of farm tractors and other agricultural machines, yielding high productivity gains.
Integration of innovative technologies such as telematics systems and GPS in farm tractors is expected to increase farm machinery adoption. The autopilot system is an important technological advancement in the area of agricultural machinery.
In this system, tractors, sprayers, and units are mounted with GPS Kits, and they’re able to push themselves through fields accurately. The tracking process is tied together with tractors’ steering, freeing the operator from driving through the area. Therefore, these variables are expected to propel the global agriculture and farm machinery market growth over the forecast period.
The advent of innovative technologies can pose lucrative growth opportunities. Many manufacturers are integrating advanced technologies like Web of Things (IoT), large data, machine learning, and artificial intelligence.
These technologies can automate harvesters and tractors, and if together with GPS, they provide better performance with fewer errors. Anyway, the adoption of these technologies can reduce human errors. Therefore, market players can capitalize on those opportunities and gain a competitive edge in the market.
A highly fragmented market within various countries is expected to hamper the international agriculture and farm machinery market growth over the forecast period. The international agriculture and farm machinery market is highly fragmented.
This is typical because of intense competition among regional and worldwide market players. Regional players are marketing products at competitive prices, which hinders the earnings generation of worldwide market players. Thus, these variables are expected to hamper the international agriculture and farm machinery market growth over the forecast period.
The increasing prevalence of precision farming to manage efficiencies. The arrival of novel technologies has transformed the farming industry. It features various IT applications together with high-tech technology and smart sensors.
These technology-enabled systems are mounted on the machines or the area. Precision agriculture applications supervise farmers in recognizing the perfect time to plant and reap. Variable-rate technology (VRT) is a significant application of precision farming due to its multiple applications such as measurement of crop characteristics and soil properties and higher adoption rate among farmers.
Variable-rate fertilizer application empowers the crop producers to apply various rates of fertilizer at every location across fields. The technology required to attain variable rate fertilization comprises an in-cab software using the Global Positioning System (GPS), a field zone application map, and fertilizer equipment capable of altering operation rates.
Trends By a Farm Tractor
Farm tractors are one of the most comprehensive equipment in agriculture. They’re used on farms for various activities, including transport of heavy machinery and trailers’ movement such as tilling, harrowing, plowing, and planting.
The rising demand for tractors from farmers for cropping has resulted in the growth of farm tractors. Technological progress such as detectors and GPS systems mounted on tractors to keep a check on their movement is also important in the marketplace.
The firms are focusing on manufacturing a farm tractor that would provide high power at low fuel consumption. Thus, greater government subsidies towards mechanization, linked with a lack of labor, are factors driving the use of farm tractors internationally.
Effect of Coronavirus (Covid-19) Pandemic
Because of the Covid-19 pandemic, many industries witnessed a significant shift in their business. The international agriculture and farm machinery market is anticipated to be affected by COVID-19 since most nations worldwide have shut their office premises to comprise the COVID-19. Because of this, manufacturing operations of the agriculture and farm machinery market have been affected.
As the raw materials aren’t getting transported because of traveling, this has to slow down the farm and agriculture machinery market’s manufacturing operations. This will reduce the demand for the farm and agriculture machinery market.