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Agriculture, defense, sports, and disaster management are likely to be the key sectors for the adoption of drones on the back of liberalized regime by the Indian government, says a market analysis by RationalStat

12-06-2022 10:58 AM CET | IT, New Media & Software

Press release from: RationalStat LLC

RationalStat- Indian Drone market

RationalStat- Indian Drone market

The report titled "Indian Drone Market Analysis and Forecast, 2019-2028" assesses the global market based on type, payload, end user, application, sales channel, and region. A comprehensive report provides a detailed historical and future market size with a comprehensive market trend analysis. The market share analysis, production capabilities of the top companies, an overview of the competition, strategic imperatives, key end users, potential growth areas, and competition analysis for the target players evaluated in the Indian drone market study.

Market Overview and Dynamics: Government to become the major consumer of drones and unmanned aerial vehicles UAVs

The Indian drone market is expected to grow at a CAGR of around 18% during the forecast period of 2022-2028. The Indian Drone market crossed US$ 920 Mn in 2021. Although the major use of drones is anticipated by the military and defense sector, the Indian drone market is experimenting and exploring the implementation of drones in other sectors as well.
• With the introduction of Kisan drones, there is hope that agriculture will have more drone interventions to boost productivity through crop assessment and spraying of insecticides and nutrients.
• Also, the media and entertainment industry will constitute a prominent share of the Indian drone market owing to the increased use of aerial cinematography.
During the COVID-19 pandemic, unmanned aerial vehicles (UAVs) played a critical role in a variety of areas, including law enforcement, healthcare product delivery, and e-commerce delivery. However, due to intermittent lockdowns imposed in countries around the world that manufacture and supply UAVs and related components, production supply chains have been halted or delayed due to a lack of raw materials and staff required to carry out manufacturing and assembly operations.

Though there are opportunities for UAV and component manufacturers in the US to export to India, it should be noted that the domestic manufacturing sector is thriving, and thus the local competitive landscape is expanding, both for civil and defense purposes.
Government Involvement and Conducive Policies
The ambitious "Make in India" initiative of the Indian government, which aims to promote indigenous manufacturing in a wide range of industry sectors, has resulted in the formation of joint ventures in the UAV sector. There are also numerous Indian startups that have entered the UAV market.
Many government Indian state governments have also crafted unique UAV policies to attract investments in this sector. The Indian government through the Ministry of Civil Aviation (MoCA) is indulging in providing various facilities to the regional players. To achieve the government's aim to become a global hub for drones, the Indian drone market needs to focus on Intellectual property (IP) taking the technology built-in India to the global stage.

Segmental Analysis

• Based on type, Fixed wing drones constitutes a major market share of about 44% as fixed-wing drones have a flexible flying time, range, and speed which are ideal for military, surveillance, and other emerging applications.
• Based on application, demand tends to be higher for mapping and surveying which comprises numerous uses of drones ranging from large-scale mapping, urban modeling, defense monitoring, etc.
• Based on payload, Microdrones, that carry a weight of more than 250gm but less than 2 kgs constitute the key market share. The reason for this demand is its quick navigation and the benefits of high communication range operations. Moreover, its less weight is an added advantage.

Competition Analysis: Regional Players Dominate the Domestic Markets

Due to the presence of many well-established companies in the Indian drone sector, there is intense competition. In order to preserve a competitive advantage in the market, local businesses are developing new, advanced technologies and innovations as the government has boosted its investment in drones and unmanned aerial vehicles (UAVs). It is imperative that India is an import-driven market for drones and UAVs.
Acquisitions, product launches, and partnerships are the identified industry trend in the Indian drone market. Significant consolidation is expected in the global market during the assessed period 2022-2028.
• In Sept 2021, RattanIndia Enterprises announced the launch of its drone business through its wholly-owned subsidiary NeoSky India Ltd. NeoSky India will develop a drone system platform focusing on industry applications. The company recently also made a strategic investment in US-based urban drone logistics, Matternet, working extensively on the drone logistics platform
• In Aug 2021, DCM Shriram Industries announced buying a 30% stake in a Turkish drone company (Zyrone Dynamics) with an aim to create products for civilian use, especially for cargo transportation. Zyrone will sell its products to India and the Asian market.

Some of the leading players involved in the production and marketing of the drone market include ideaForge Technology Pvt. Ltd., Asteria Aerospace Pvt. Ltd., Aarav Unmanned Systems Pvt. Ltd., Tata Advanced Systems Pvt. Ltd., Throttle Aerospace Systems Pvt. Ltd., Shenzhen DJI Innovation Technology Co., Elbit Systems Ltd., Adani Defence & Aerospace, UrbanMatrix Technologies, Dhaksha Unmanned Systems, General Aeronautics, Paras Aerospace, TechEagle, and others.
RationalStat has segmented the Indian drone market on the basis of type, payload, end user, application, sales channel, and region
• By Type
o Fixed Wing
o Rotary Wing
• Payload
o 170Kg
• By End User
o Individual
o Commercial
o Military
• By Application
o Recreational
o Aerial Surveying & Photography
o Construction
o Film and Television
o Border Security
o Combat Operations
o Agricultural Drones
• By Sales Channel
o Original Equipment Manufacturers (OEMs)
o Aftermarket
• By Region
o North India
o West and Central India
o East India
o South India

For more information about this report https://store.rationalstat.com/store/india-drone-market/

RationalStat LLC
Kimberly Shaw, Content and Press Manager
sales@rationalstat.com
Phone: +1 302 803 5429

RationalStat is an end-to-end US-based market intelligence and consulting company that provides comprehensive market research reports along with customized strategy and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client's needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.

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