India Drone Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2034

An unmanned aerial vehicle (UAV), also referred to as a drone, is an aircraft that is capable of flying without a pilot onboard. They are robotic aircraft that are capable of being remotely piloted by a human operator as well as they are able to operate on their own using pre-programmed flight plans. Their ability to gather critical data efficiently has made them indispensable equipment for modernizing farming practices and increasing productivity sustainably.

MARKET OVERVIEW

The global market valuation of India drone market is valued at approximately USD 1108.9 Million in 2023 and is projected to reach USD 2899.2 million by 2034 exhibiting a compound annual growth rate (CAGR) of 9.13% during the forecast period of 2024-2034. They are outfitted with many sensors, cameras, and navigation systems. They serve various functions across multiple sectors with applications ranging from precision agriculture to defense operations to commercial services.

GROWTH DRIVERS

Agriculture is a major driver of the Indian economy and the means of subsistence for a sizable segment of rural populations. It provides farmers with the opportunity to enhance crop productivity, cut expenses, and improve sustainability. Farmers are able to plan planting dates, harvesting timetables, and disease detection by utilizing drones to monitor soil moisture levels, temperatures, and humidity.

They are also highly demanded in a variety of industries, including agriculture (for crop evaluation), urban planning (for smart city programs), healthcare (for the delivery of medical supplies), and government/law enforcement. This increasing range of applications is also one of the major drivers of the drone business in India.

MARKET SEGMENTATION:

By Product –

·         Mapping and Survey Drone

·         Industrial Drone

·         Agriculture Drones

·         Solar Panel Cleaning Drones

·         Delivery Drones

By Type –

·         Fixed Wings

o   Conventional Take-off and Landing (CTOL)

o   Vertical Take-off and Landing (VTOL)

·         Rotatory Wings

o   Single Rotor

o   Multirotor

§  Bicopter

§  Tricopter

§  Quadcopter

§  Hexacopter

§  Octocopter

·         Hybrid Wings

By Components –

·         Software

o   Flight control software

o   Mission planning software

o   Image processing software

o   Others

·         Hardware

o   Frames

o   Motors

o   Mirrors

o   GPS Module

o   Camera

o   Batteries

o   Others

·         Accessories

o   Remote controller

o   FPV (First Person View) goggles or monitor

o   Landing gear

o   Others

By Range –

·         Visual Line of Sight (VLOS)

·         Extended Visual Line of Sight (EVLOS)

·         Beyond Visual Line of Sight (BVLOS)

By Mode of Operation –

·         Remotely Piloted

·         Optionally Piloted

·         Fully Autonomous

By Maximum Take-off Weight –

·         <25KG

·         25-170 KG

·         >170KG

By System –

·         Platforms

·         Payloads

·         Data Links

·         Ground Control Stations

·         Launch and recovery Systems

By Industry –

·         Defense And Security

·         Agriculture

·         Logistics and Transportation

·         Energy and Power

·         Construction and Mining

·         Media and Entertainment

·         Insurance

·         Wildlife and insurance

·         Academics and Research

By Application –

·         Agricultural Services

·         Industrial Drones

·         Infrastructure Services

·         GIS & Engineering Services

·         Training

·         Mapping and Surveying

·         Security and Surveillance

·         Humanitarian Assistance

By Point of Sale –

·         OEM

·         Aftermarket

India Drone Market By Product Segment Review:

Precision agriculture methods are made possible by agricultural drones, which are essential to the modernization of farming processes. With the sensors and imaging technology these drones possess, they are capable of tracking crop health, control irrigation, evaluate soil conditions, and apply pesticides or fertilizers.

India Drone Market By Type Segment Review:

Fixed-wing drones are constructed to resemble conventional aircraft. They are capable of flying efficiently and over a great distance due to their stiff wing structure. The most popular kind of drones utilized for both business and recreational purposes are those with rotor wings.

India Drone Market By Components Segment Review:

Drone software is necessary for functions like autonomous flying, route planning, data processing, and system integration in the Indian drone business. The hardware segment is witnessing improvements in lightweight materials for frames, high-resolution cameras for greater imaging capabilities, longer-lasting batteries for longer flight periods, and better sensors for improved navigation and obstacle avoidance.

India Drone Market By Range Segment Review:

The increasing popularity of drones for commercial applications, particularly in sectors like agricultural, infrastructure inspection, and disaster management, is the primary factor driving the expansion of VLOS operations in the country.

India Drone Market By Mode of Operation Segment Review:

Remotely piloted drones are widely employed in the commercial sector for tasks including delivery services, surveillance, agriculture, aerial photography, and infrastructure inspection. This segment's expansion is being driven by the rising demand for these services.

India Drone Market By Maximum Take-off Weight Segment Review:

Drones under 25kg are often highly demanded as they are more affordable and accessible to a wider range of users, including hobbyists, small businesses, and startups. Continuous technological advancements is expected to attract more consumers and businesses to invest in drones under 25kg.

India Drone Market By System Segment Review:

Platform systems segment is expected to hold the maximum revenue share in Indian drone market because drone platforms of all kinds, from multirotor to fixed-wing, have grown popularity in India. Multirotor drones are better suited for close-quarters operations and jobs requiring hovering capabilities, whereas fixed-wing drones are favored for long-range missions and surveillance duties.

India Drone Market By Industry Segment Review:

Logistics and transportation segment is expected to dominate the market due to growing e-commerce industry, and significant investment in infrastructure developments. They are essential in border patrolling, monitoring, surveillance, and reconnaissance in the defense and security industry.

India Drone Market By Application Segment Review:

The drone market in India has been experiencing significant growth across various security and surveillance application. They are actively incorporating drones into their operations to enhance situational awareness and operational capabilities.

India Drone Market By Point of Sale Segment Review:

OEM (Original Equipment manufacturer) segment hold the dominant position in the Indian market due to government support for local manufacturing, significant demand from both military and commercial sector, and advancement in indigenous drone technology.

Key Challenges:

In India, the laws governing drones are complicated and constantly changing. Regulations have been placed into effect to encourage innovation and domestic manufacturing, but it often become difficult for businesses to comply with them, particularly if they intend on importing drones or conduct business internationally.

Their acceptability among the general public is slightly challenging, particularly in highly crowded regions. For this technology to be widely used and integrated into other industries, it is imperative that privacy problems, safety concerns associated with drone operations, and potential misuse of drone technology are addressed.

Competitive Landscape:

As the drone business grows and diversifies quickly, leading manufacturers are engaged in fierce rivalry in the Indian drone market. A number of well-known companies are actively fostering the market's growth with cutting-edge technology and sector-specific solutions. Key manufacturers are improving their competitive position in the ever-changing market landscape by putting into practice a complete strategy that includes innovation, quality assurance, market diversification, partnerships, customer focus, cost efficiency, and compliance.

Global Key Players:

·         Paras Defence And Space

·         ideaForge Technology Ltd

·         CDSpace

·         Asteria Aerospace Limited

·         RattanIndia Enterprises

·         Droneacharya Aerial Innovations

·         DCM Shriram Industries

·         Garuda Aerospace

·         Thanos

·         Drogo Drones

·         Other players