Indian Drone market

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A brief note on the Indian Drone market




Business Today reported, “that investments in the drone segment have registered 300 per cent growth in the last three fiscals”. The drone space in India is catching and enforcing up with that in other nations and gaining. Regarding revenue, the 2017-2023 Indian UAV market is to grow at a CAGR of 18%. Although these numbers continue to be led by the long-range UAV segment, medium and mini-UAVs are also poised to register healthy growth. 

“Government policies are one of the primary elements that have led to this investor fervour in the sector,” and “Also, 90 per cent of the Indian airspace is now accessible to drone use after 2021 law liberalization in the laws and regulations.  

Besides, finance minister Nirmala Sitharaman announced the Drone Shakti Scheme as part of the Union Budget 2022 proposals. The scheme seeks to unify the efforts of the drone ecosystem by institutionalizing and creating a structure to enable cooperation among multiple stakeholders. 

The increasing array of drone applications accelerates the market and propels the entire drone ecosystem, including drone maintenance, repair and overhaul, drone platform services, and drone training and education. 

Companies may opt for drones as a service because an enterprise-level drone might be prohibitively expensive and predicted to boost the growth of the Drones-as-a-Service sector, which often supports enterprises in managing expenditures. 

Consumer and commercial drones have grown exponentially thanks to mergers and rapid advancement in two completely different technologies: radio communication and smartphones. It is elementary that radio communication helps in controlling the aircraft. In contrast, more interestingly, the advent of smartphones has led to a steep reduction in the prices of various equipment like microcontrollers, chips, accelerometers, cameras, and other sensors. These have enabled capturing of data, the utility of which is being amplified by the availability of better computing capabilities. 

 

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