India UAV Drones Market to Grow at 14.61% CAGR Until FY2026
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 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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