How big is the drone market in India?

How big is the drone market in India?

The limit is not just the sky anymore!

It’s often said that “Time flies” but they say “So do we!” It’s preached as rightly said, as the drone industry in India has seen a commendable and exceptional hike in the past couple of years. The drone industry is said to be India’s most pervasive multi-billion-dollar industry. 

The first few drones, back in the 1990s were introduced by the armed forces of India, however, as India saw the development right in front of its eyes and how judicial changes opened up vast sets of opportunities and the market in not just the aviation sector but also other industries, this particular industry was pounded with limitations for common people as once upon a time it was only the military who could fly UAVs. However, new India has been using drones in many different parts of aviation, including monitoring climate change, conducting post-disaster search operations, filming, and communicating in far-flung locations. 

Civil Aviation Minister Shri Jyotiraditya Scindia stated that with the help of the drone policy (rules) and drone PLI programme, the Indian Government expects to see drone manufacturing enterprises in India attain a turnover of 900 crores [INR 9 billion (US$122.44 million)] during the next three years. This is the cumulative effect of the creation of a “value chain in the drone business,” which includes the production of “hardware (drones), software, and services.”

The PLI Scheme, which has a financial allocation of INR 1.2 billion (US$16.32 million) divided over three years, is expected to help India’s drone sector reach a total revenue worth INR 120 to 150 billion (US$1.63 billion to US$2.04 billion) by 2026.

It seems that the limit for the drone market won’t just be the sky anymore as Prime minister Narendra Modi quoted that the new drone rules will be extremely beneficial to start-ups and our young people who work in this industry. It will provide fresh opportunities for business and innovation. It will aid in utilising India’s capabilities in cinematography, engineering, technology, and creativity to turn India into a drone centre.

The government is making major adjustments to its laws and regulations to encourage greater local manufacturing as part of its push for the Make-in-India initiative. Drone use has countless potential uses, including those in agriculture, defence, law enforcement, surveillance, delivery services, workplace productivity, private events, and more. The government has made it evident that it wants India to be a powerhouse for drone production by 2030, which bodes extremely well for the sector’s growth. The number of drone start-ups in the nation increased by 34.4 per cent between August 2021 and February 2022 as a result of the enormous demand and market expansion pushing the number of drone startups to 220 in India.

Over 500,000 jobs are anticipated to be created and the drone services sector will develop to over INR 300 billion in the upcoming three years. The drones will not only function for the farmers, countrymen, soldiers, and corporations but anyone and everyone above and beyond just the skies.

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