AGCO's PTx technology unit generated about $860 million in revenue last year and is on pace to match or modestly exceed that figure in 2025, the company said at its 2026 Technology Event, with executives reaffirming a goal of $2 billion in PTx revenue by 2029.

About 65% of PTx sales come from equipment brands other than AGCO's, underscoring the company's bet that mixed-fleet compatibility, not brand lock-in, will drive the next wave of precision-ag adoption. PTx President Damon Audia said roughly one-third of PTx revenue comes from retrofit products — add-on technology for machines already in the field — with the rest split between OEM sales and the dealer channel.

"We're transitioning rapidly into becoming a technology company," Chairman, President and CEO Eric Hansotia said.

What is behind the $2 billion target?

AGCO said PTx works with more than 100 OEMs outside its own brands and counts more than 90 PTx Elite dealers — a network combining former Precision Planting and Trimble dealers — more than 300 AGCO dealers and more than 200 CNH dealers as distribution channels. The company introduces new technology first in the retrofit market, where farmers can upgrade existing machines without buying new ones, then moves the same products into its Fendt, Massey Ferguson and Valtra lines and supplies them to other OEMs.

"The addressable market is the farm," Audia said, arguing PTx can reach a broader installed base than a business focused only on new-equipment sales.

How does AGCO tie technology to farmer costs?

Management framed several PTx products around the three pressures growers cite most: labor shortages, input costs and data overload.

• SymphonyVision and SymphonyNozzle: Camera-and-AI spraying systems that spot weeds and cut herbicide use by about 70%, with a typical one- to two-year payback, according to Audia.
• AeroTube and Precision Planting: Seed-orientation technologies that AGCO studies tie to roughly 18% higher optimal emergence and potential yield gains of 2% to 5% per acre.
• OutRun autonomy: Commercially available for harvest, demonstrated for tillage and in alpha testing for fertilizer application. Audia said more than 300,000 acres now run through autonomous operations, more than 100 times the level at the start of the year.
• Panorama, FarmENGAGE and Aurora AI: A data stack that pulls information across machine brands. Panorama data volumes rose 60% year over year, Audia said, even as North American new-equipment sales declined.

Hansotia said Aurora AI analyzes a farmer's own data, answers questions by voice or text and offers recommendations, but the farmer retains the final call rather than ceding control to the system.

What does the service model and Fendt expansion add up to?

AGCO's FarmerCore service program remotely monitors equipment and dispatches technicians to the farm rather than waiting for breakdowns at the dealership. North American AGCO dealers now complete more than 65% of service work on-farm; leading dealers reach 75%, Hansotia said.

Dealers with the heaviest on-farm service load reported net promoter scores 4.5 points higher and market share 1.5 points higher than peers, according to the company. AGCO dealers can also maintain or repair 85% of issues involving other equipment brands on a customer's farm.

Hansotia reiterated the push to expand Fendt in North American row-crop agriculture. Fendt's large-ag market share has climbed from roughly 5% to 11%, with a stated target of 20%. Brand recognition has risen to 74% from 53%. Beginning in 2026, every Fendt large-ag machine ships with PTx guidance, telemetry and the FarmENGAGE platform.

What about margins and the market backdrop?

Audia described PTx gross margins as "significantly more profitable" than the equipment business and more than double the company average. Operating margins remain below target because of heavy SG&A and elevated R&D spending; higher volumes should narrow that gap as the business scales, he said.

CFO Indira Agarwal painted a cautious demand picture. European diesel prices have risen by double digits since the company's second-quarter earnings call, U.S. diesel is also up, and Brazilian farmers face uncertainty around elections. Weather has stressed European growers.

AGCO funds its technology push through a $200 million overhead-reduction program, lower-cost sourcing, quality work and broader use of AI internally, Hansotia said. Management continues to lean on pricing, market-share gains and execution rather than a market recovery to lift results.

The next reporting cycle will test whether PTx revenue clears the $860 million plateau in 2025 and whether OutRun acres expand well beyond the 300,000 now running autonomously — both key checkpoints on the path to the $2 billion 2029 target.