As per the current market research conducted by the CMI Team, the Indian UAV Market size is expected to record a CAGR of 9.5% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 1,775.5 Million. By 2033, the valuation is anticipated to reach USD 4,018.4 Million.

Indian UAV Market: Growth Factors and Dynamics

  • Government Initiatives and Policies: India’s government initiatives such as the ‘Make in India’ campaign and the release of the National Drone Policy in 2021 have fueled growth in the UAV market. The policy provides a regulatory framework for drone operations, encouraging investments, innovation, and adoption across various sectors.
  • Rapid Technological Advancements: Technological advancements in UAVs, particularly in areas like miniaturization, battery life, sensor capabilities, and autonomous flight systems, have propelled market growth. These advancements have expanded the range of applications for UAVs in sectors such as agriculture, infrastructure, defense, and disaster management.
  • Diverse Applications Across Industries: UAVs find applications across diverse industries in India, including agriculture (for crop monitoring and spraying), infrastructure (for surveying and mapping), mining (for exploration and surveillance), oil & gas (for pipeline inspection), and public safety (for disaster response and surveillance).

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Indian UAV Market: Partnership and Acquisitions

  • In 2023, The Indian Navy achieved a milestone by conducting successful landing and take-off tests of an indigenous UAV from the deck of INS Vikrant, its indigenous aircraft carrier. With full operational status attained, INS Vikrant will debut in Milan naval wargames in February 2024.
  • In 2022, DJI unveiled the DJI Air 3 drone, featuring an f/1.7 main camera with a 24mm equivalent focal length and an f/2.4 telephoto lens with a 70mm equivalent focal length. This dual-camera setup enhances versatility for aerial photography and videography.

Indian UAV Market: COVID-19 Analysis

The COVID-19 pandemic has had a significant impact on the India UAV Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

  • Disruption in Supply Chains: COVID-19 led to disruptions in global supply chains, affecting the availability of components and materials required for UAV manufacturing in India. Delays in production and delivery timelines impacted the launch of new products and fulfilment of orders, hindering market growth.
  • Decreased Demand from Key Sectors: Key sectors such as agriculture, infrastructure, and construction, which are significant users of UAV technology, experienced slowdowns, and disruptions due to the pandemic. Reduced demand for UAVs in these sectors, coupled with budget constraints, led to a decline in market activity and revenue.
  • Resumption of Economic Activities: As economic activities resume and industries recover from the impact of COVID-19, there will be a resurgence in demand for UAVs across sectors such as agriculture, infrastructure, mining, and public safety. This rebound in economic activity will drive market growth and stimulate investments in UAV technology.

List of the prominent players in the Indian UAV Market:

  • ideaForge Technology Pvt Ltd
  • Quidich Innovation Labs Pvt Ltd
  • Asteria Aerospace Pvt Ltd
  • Omnipresent Robot Tech Pvt Ltd
  • Aero360 Innovations Pvt Ltd
  • Throttle Aerospace Systems Pvt Ltd
  • Skylark Drones Pvt Ltd
  • Johnnette Technologies Pvt Ltd
  • Airpix Geoanalytics Pvt Ltd
  • Edall Systems
  • Aarav Unmanned Systems Pvt Ltd
  • DNA Networks Pvt Ltd
  • RCI Aerospace Pvt Ltd
  • Indrone Systems Pvt Ltd
  • Avian UAVs Pvt Ltd
  • Others

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