The report entitled “Indian Drone Market Forecast and Analysis 2019-2028” analyzes the market by type, payload, final user and application, sales channel and region. The report is comprehensive and provides complete historical and forecast market size along with an extensive analysis of market trends. Market share analysis and production capabilities of most prominent companies, a summary of the competition, key strategic essentials, key users, possible growth areas, and competitive analysis for the players to target are included in this Indian drone market research.
Marketing Overview and Dynamics: Government will become the largest consumer of drones as well as UAVs
The Indian drone market is anticipated to grow at a rate of 18% over the 2022-2028 forecast timeframe. It is estimated that the Indian Drone market surpassed US$920 million in 2021. While the majority of use for drones is expected by the defense and military sector but it is also evident that the Indian drone market has been currently experimenting and looking into the application and use of drones within other industries too.
In the COVID-19 epidemic UAVs during the COVID-19 pandemic (UAVs) were instrumental in playing a crucial function in many fields, including police, health product delivery, and delivery e-commerce. But, because of the intermittent lockdowns in various nations around the globe that produce and distribute UAVs and other related components, supply chains for production are being slowed or stopped because of a shortage of raw materials and staff needed to perform manufacturing and assembly processes.
While there are numerous potentials in the market for UAV or component producers from the US to export their products to India however, it must be not forgotten that the manufacturing sector is growing and the competitive landscape in India is expanding, to serve defense and civil needs.
Government Involvement and Conducive Policies
The ambitious “Make in India” initiative of the Indian government, which aims to promote indigenous manufacturing in a wide range of industry sectors, has resulted in the formation of joint ventures in the UAV sector. There are also numerous Indian startups that have entered the UAV market.
Many government Indian state governments have also crafted unique UAV policies to attract investments in this sector. The Indian government through the Ministry of Civil Aviation (MoCA) is indulging in providing various facilities to the regional players. To achieve the government’s aim to become a global hub for drones, the Indian drone market needs to focus on Intellectual property (IP) taking the technology built-in India to the global stage.
Segmental Analysis
Competition Analysis: Regional Players Dominate the Domestic Markets
Due to the presence of many well-established companies in the Indian drone sector, there is intense competition. In order to preserve a competitive advantage in the market, local businesses are developing new, advanced technologies and innovations as the government has boosted its investment in drones and unmanned aerial vehicles (UAVs). It is imperative that India is an import-driven market for drones and UAVs.
Acquisitions, product launches, and partnerships are the identified industry trend in the Indian drone market. Significant consolidation is expected in the global market during the assessed period 2022-2028.
Some of the leading players involved in the production and marketing of the drone market include ideaForge Technology Pvt. Ltd., Asteria Aerospace Pvt. Ltd., Aarav Unmanned Systems Pvt. Ltd., Tata Advanced Systems Pvt. Ltd., Throttle Aerospace Systems Pvt. Ltd., Shenzhen DJI Innovation Technology Co., Elbit Systems Ltd., Adani Defence & Aerospace, UrbanMatrix Technologies, Dhaksha Unmanned Systems, General Aeronautics, Paras Aerospace, TechEagle, and others.
RationalStat has segmented the Indian drone market on the basis of type, payload, end user, application, sales channel, and region
For more information about this report https://store.rationalstat.com/store/india-drone-market/
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