Press release
India Drone Market worth $1,437 Million by 2029, at a CAGR of 17.0%
India Drone Market
The report "India Drone Market [https://www.marketsandmarkets.com/Market-Reports/india-drone-market-136782206.html?utm_source=abnewswire.com&utm_medium=PaidPR&utm_campaign=indiadronemarket] 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" The India Drone Market 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 [https://www.marketsandmarkets.com/PressReleases/india-drone.asp?utm_source=abnewswire.com&utm_medium=PaidPR&utm_campaign=indiadronemarket] is experiencing rapid growth, driven by increasing demand across various sectors, including agriculture, defense, and e-commerce. Supportive government policies and initiatives like the Drone Shakti scheme have further expanded the industry.
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Browse 147 market data Tables and 84 Figures spread through 281 Pages and in-depth TOC on "India Drone Market"
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India Drone Market- By System
By system, the Platform systems segment is expected to lead the market. There's a growing demand for drones across various sectors such as agriculture, defense, entertainment, and delivery services. Platform systems are the core components of drones, including the airframe, propulsion system, and avionics and software. Expanding these sectors could lead to higher investment in the development and procurement of drones, directly affecting the market size of platform systems.
India Drone Market- By Platform
The platform, Civil, and Commercial segments are expected to lead the market in volume (Units), but in market size (USD Million), the defense segment will lead the market. Civil and commercial usage, including agriculture, energy, and construction, shows a balanced spread, reflecting the technology's cross-sectoral adoption. Small and tactical class drones are preferred for their versatility and lower operational costs, aligning with global trends towards more compact and efficient UAVs for both military and civilian uses. This market distribution underscores the strategic importance of drones in national defense, the growing commercial applications, and the potential for further expansion into various industries.
India Drone Market- By Industry
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.
Major Service providers in [https://www.marketsandmarkets.com/ResearchInsight/india-drone-companies.asp?utm_source=abnewswire.com&utm_medium=PaidPR&utm_campaign=indiadronemarket] are Paras Aerospace (India), ideaforge Technology Ltd. (India), Throttle Aerospace Systems Pvt. Ltd. (India), Garuda Aerospace (India), Asteria Aerospace Limited (India), General Aeronautics (India), and Newspace Research Technologies Pvt. Ltd. (India), Iotechworld (India), Adani Defense and Aerospace (India), Tata Advanced Systems Limited (India), Thanos (India), Dhaksha Unmanned Systems (India), Marut Dronetech Private Limited (India), Hubblefly Technologies (India), Raphe (India) like more than 25 companies have been analyzed based on different parameters, including product portfolios, recent developments, business strategies, and organic and inorganic growth, among others.
Recent Developments of India Drone Industry
In March 2024, BEML has signed an MoU with Garuda Aerospace, wherein BEML will assemble and integrate drones. This partnership involves the execution of a developmental order to gain insight into the technological know-how and to establish necessary facilities for drone production.
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