John Deere manufactures and sells equipment for agriculture and construction. Deere is best known for its large agricultural equipment — row crop tractors, combines, planters, and sprayers — sold primarily to large commercial farming operations. Deere also sells construction equipment (excavators, dozers, wheel loaders) and smaller agricultural and outdoor equipment (compact tractors, hay equipment, riding mowers) to contractors, smaller farms, landscapers, and homeowners. Deere sells through roughly 2,050 independent dealer locations in the U.S. and Canada, and through dealers in over 100 countries. Deere's financial services arm, John Deere Financial, provides retail and dealer financing, leases, and extended warranties, and is integral to facilitating equipment sales. Deere's profits are driven by volume and pricing, both of which are highly cyclical and tied to farmer profitability, commodity prices, and construction activity. Deere is increasingly focused on layering recurring software and subscription revenue on top of its hardware base through its "Smart Industrial" strategy, which embeds precision technology — guidance systems, automation, and telematics — directly into equipment. Products like See & Spray (a camera-based precision herbicide system) and Precision Essentials (a foundational guidance and connectivity subscription) represent this push. Deere also began taking commercial orders for autonomous tillage kits in FY25, targeting a fully autonomous corn production system by 2030. Management argues that deeper technology integration improves customer productivity, creates switching costs, and builds a recurring revenue stream that should structurally improve margins over time.