India Drones Market to Hit USD 2,434.3 Million by 2032
India Drones Market Overview
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 9.13% (2024-2032)
Market Size in 2023: USD 1,108.9 Million
Market Size in 2032: USD 2,434.3 Million
India’s drones market is rapidly expanding, driven by advancements in technology and increasing demand across industries. According to the latest report by IMARC Group, the market size reached USD 1,108.9 Million in 2023. Looking forward, IMARC Group expects the market to reach USD 2,434.3 Million by 2032, exhibiting a growth rate (CAGR) of 9.13% during 2024-2032.
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India Drones Market Trends and Drivers:
- Rapid Market Growth: The Indian drone market is expanding rapidly, driven by their increasing use in agriculture, infrastructure, and defense sectors.
- Government Support: The expansion is supported by favorable government initiatives, including relaxed drone regulations and the Production-Linked Incentive (PLI) scheme for drone manufacturing.
- Agriculture Applications:
- Drones are increasingly utilized for precision farming.
- They help farmers monitor crops, optimize resources, and enhance yields.
- Infrastructure and Construction:
- Drones are being adopted for site surveys, monitoring, and maintenance.
- This adoption boosts efficiency and reduces costs in the construction and infrastructure sectors.
- Defense Sector:
- Significant investment in advanced unmanned aerial vehicles (UAVs) for surveillance and security is a key factor driving market growth.
- Technological Advancements:
- Improvements in drone capabilities, such as better flight stability, longer battery life, and advanced sensors, are enhancing their usability across various applications.
- AI and ML Integration:
- The integration of artificial intelligence (AI) and machine learning (ML) in drone operations is enabling sophisticated data analysis and autonomous flight, expanding potential uses.
- Drone Delivery Services:
- The rise of drone delivery services in logistics and healthcare is a promising area, driven by the need for efficient and contactless delivery solutions.
- Indigenous Manufacturing:
- The increasing focus on indigenous manufacturing and the establishment of drone startups are anticipated to further drive the Indian drone market in the forecasted period.
India Drones Industry Segmentation:
The report has segmented the market into the following categories:
Breakup by Type:
- Fixed Wing
- Rotary Wing
- Hybrid
Breakup by Component:
- Hardware
- Software
- Accessories
Breakup by Payload:
- <25 Kilograms
- 25-170 Kilograms
- >170 Kilograms
Breakup by Point of Sale:
- Original Equipment Manufacturers (OEM)
- Aftermarket
Breakup by End Use Industry:
- Construction
- Agriculture
- Military and Defense
- Law Enforcement
- Logistics
- Media and Entertainment
- Others
Breakup by Region:
- North India
- West and Central India
- South India
- East India
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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Key Highlights of the Report:
• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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