India Drone Market Size and Forecast: From USD 654 Million to USD 1,437 Million by 2029
India Drone Market by Platform (Civil and Commercial, Defense), Point of Sale (OEM, Aftermarket), Application (Military, Commercial, Government and Law Enforcement, Consumer), Systems and Industry - Forecast to 2029
(EMAILWIRE.COM, May 28, 2024 ) The India Drone Market Size is projected to grow from USD 654 Million in 2024 to USD 1,437 Million by 2029, at a CAGR of 17.0% during the forecast period. The Drone volume in the India Drone Market is projected to grow from 10,803 Units in 2024 to 61,393 Units by 2029. The drone market in India is undergoing a significant transformation, propelled by progressive regulations, increasing investments, and burgeoning applications across various sectors.
Key Market Players:
Major service providers in this market are India-based drone manufacturing companies, such as Paras Aerospace, ideaForge Technology Ltd., Throttle Aerospace Systems Pvt. Ltd., Garuda Aerospace, Asteria Aerospace Limited, General Aeronautics, and Newspace Research Technologies Pvt. Ltd., Iotechworld, Adani Defense and Aerospace, Tata Advanced Systems Limited, CDSpace, Thanos, Dhaksha Unmanned Systems, Marut Dronetech Private Limited, Hubblefly Technologies, Raphe. They have an established portfolio of reputable services, a robust market presence, and strong business strategies.
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Regulatory Framework and Innovation:
As of the latest review, India positions itself as a rapidly growing hub for drone technology, thanks to an enabling regulatory framework instituted by the Directorate General of Civil Aviation (DGCA) and the Ministry of Civil Aviation. These regulations have streamlined approvals and expanded use cases, driving innovation and adoption.
Dominance of Defense and Security Sector:
By Industry, the defense and Security segment was estimated to account for the largest share of the India drone market in 2024. The defense and security sector dominates the Indian drone market due to its critical role in national security and the strategic advantages drones offer. With regional security challenges, the need for heightened surveillance and reconnaissance, and the delivery of payload to border areas, India has prioritized the adoption of drones for defense purposes. The government's emphasis on self-reliance in defense technology further bolsters this sector's market share, as drones become integral to modern military operations and border management, leading to significant investment in this technology.
Expanding Commercial Applications:
Based on application, the India drone market has been segmented into Military, Commercial, Government and law enforcement, and Consumer. Commercial drone applications in India are driven by the increasing adoption of drones in sectors such as agriculture, infrastructure, and delivery services for their cost-efficiency and operational effectiveness. Regulatory reforms facilitating commercial drone use and technological advancements also contribute to this robust growth.
OEM Segment Dominance:
Based on the point of sale, the India drone market has been segmented into OEM and Aftermarket. The OEM segment's lead in the Indian drone market can be attributed to strong government initiatives encouraging domestic production, significant internal demand across military and commercial sectors, and advancements in local drone technologies. Additionally, the cost-effectiveness of Indian-manufactured drones, coupled with the potential for exports, further propels the OEM segment's dominance.
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About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Key Market Players:
Major service providers in this market are India-based drone manufacturing companies, such as Paras Aerospace, ideaForge Technology Ltd., Throttle Aerospace Systems Pvt. Ltd., Garuda Aerospace, Asteria Aerospace Limited, General Aeronautics, and Newspace Research Technologies Pvt. Ltd., Iotechworld, Adani Defense and Aerospace, Tata Advanced Systems Limited, CDSpace, Thanos, Dhaksha Unmanned Systems, Marut Dronetech Private Limited, Hubblefly Technologies, Raphe. They have an established portfolio of reputable services, a robust market presence, and strong business strategies.
Download PDF Brochure @
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=136782206
Regulatory Framework and Innovation:
As of the latest review, India positions itself as a rapidly growing hub for drone technology, thanks to an enabling regulatory framework instituted by the Directorate General of Civil Aviation (DGCA) and the Ministry of Civil Aviation. These regulations have streamlined approvals and expanded use cases, driving innovation and adoption.
Dominance of Defense and Security Sector:
By Industry, the defense and Security segment was estimated to account for the largest share of the India drone market in 2024. The defense and security sector dominates the Indian drone market due to its critical role in national security and the strategic advantages drones offer. With regional security challenges, the need for heightened surveillance and reconnaissance, and the delivery of payload to border areas, India has prioritized the adoption of drones for defense purposes. The government's emphasis on self-reliance in defense technology further bolsters this sector's market share, as drones become integral to modern military operations and border management, leading to significant investment in this technology.
Expanding Commercial Applications:
Based on application, the India drone market has been segmented into Military, Commercial, Government and law enforcement, and Consumer. Commercial drone applications in India are driven by the increasing adoption of drones in sectors such as agriculture, infrastructure, and delivery services for their cost-efficiency and operational effectiveness. Regulatory reforms facilitating commercial drone use and technological advancements also contribute to this robust growth.
OEM Segment Dominance:
Based on the point of sale, the India drone market has been segmented into OEM and Aftermarket. The OEM segment's lead in the Indian drone market can be attributed to strong government initiatives encouraging domestic production, significant internal demand across military and commercial sectors, and advancements in local drone technologies. Additionally, the cost-effectiveness of Indian-manufactured drones, coupled with the potential for exports, further propels the OEM segment's dominance.
Ask for Sample Report @
https://www.marketsandmarkets.com/requestsampleNew.asp?id=136782206
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Contact Information:
MarketsandMarkets™
Mr. Aashish Mehra
Tel: 1-888-600-6441
Email us
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MarketsandMarkets™
Mr. Aashish Mehra
Tel: 1-888-600-6441
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results