Growing security needs, increasing government initiatives,rising application due to the COVID-19, and demand in military and surveillance to drive the growth of the India UAV Drones Market through FY2026.
According to TechSci Research report, “India UAV Drones Market By Type (Fixed Wing, High-Altitude Long Endurance (HALE), Unmanned Combat Aerial Vehicle (UCAV), Medium-Altitude Long-Endurance Unmanned Aerial Vehicle (MALE) and Others), By Payload (0-25kg,25-100kg,100-500kg and 500 kg and above), By Equipment (Sensor, Camera), By Component (Hardware, Software and Accessories), By End User ( Defence, Commercial, Industrial, Agriculture, Entertainment and Others By Company and By Geography, Forecast & Opportunities, FY2026”, India UAV Drones Market was valued at USD831.36 million in FY2020 and is projected to grow at a CAGR of around 14.61% during FY2021–FY2026, owing to the rising applications of drones due to the COVID-19 outbreak, growing smart cities across various parts of the country, increasing government initiatives, demand in military and surveillance and growing security concerns. Additionally, the increasing demand for drones in the energy and power sector is also expected to drive the market. In order to restore the power distribution sector in India, drones can both prevent power thefts, accidents, and damages. However, the high cost of maintenance is likely to hamper the market growth during the forecast period. Additionally, battery backup concerns and the ability to resist climatic conditions can restrict the growth of the market.
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“India UAV Drones Market”
India UAV Drones market is segmented based on type, end user, region, component, and company. Based on type, the market can be fragmented into HALE, MALE, UCAV, and fixed wing, etc. The MALE segment is expected to grow at a significant pace and will dominate the market during the forecast period on account of its reliability, efficiency, and high requirement in the Indian defense systems.
Based on end user, the market can be divided into defense, healthcare, entertainment, industry, agriculture and others, including photography. The defense segment dominates the market with a share of 68.64% in FY2020, primarily due to increasing demands of border security, anti-terror, crime control, etc., as drones are highly relied upon to get accurate and reliable information as compared to satellites.
Based on region, the market is expected to witness growth in the West region of the country and lead the major market share during the forecast period due to increasing border security concerns and monitoring.
Idea forge Technology Pvt Limited, Asteria Aerospace Pvt Ltd, Detect Technologies Pvt Ltd, Aarav Unmanned Systems Pvt Ltd, Edall Systems and others are some of the leading players operating in the India UAV Drones market. These companies are launching new drones with high technological advancements and multiple sensing techniques. The companies operating in the market are using organic strategies such as product launches and collaborations to boost their share.
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“India UAV Drones market is anticipated to grow at a tremendous pace during the forecast period due to the increasing demand in healthcare systems, adoption in defense systems, military and surveillance, and increasing concerns over security”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India UAV Drones Market By Type (Fixed Wing, High-Altitude Long Endurance (HALE), Unmanned Combat Aerial Vehicle (UCAV), Medium-Altitude Long-Endurance Unmanned Aerial Vehicle (MALE) and Others), By Payload (0-25kg, 25-100kg, 100-500kg and 500 kg and above), By Component (Hardware, Software, Accessories), By Equipment (Sensor, Camera), By End User (Defence, Commercial, Industrial, Agriculture, Entertainment and Others), By Company and By Geography, Forecast & Opportunities, FY2026” has evaluated the future growth potential of India UAV Drones market and provides statistics and information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the India UAV Drones market.
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