Drones – The Multi-billion Dollar Market in India

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Drones or Unmanned Aerial Vehicles (UAVs) are becoming the fastest-growing aviation sector in India. According to ThePrint, this market will reach $1.21 in 2021 and, after that, witness a steep growth from 2022 onwards.

The global drone market is currently dominated by the US and China. According to BIS Research, a global intelligence agency, the global drone market will touch $28.47 billion this year, in which India’s share will be about 4.25 percent.

Drones have both military and non-military applications

Drone-based surveillance and armed drones are the primary use case in the military domain. Delivery drones are becoming the primary segment of usage in the civilian space. According to BIS Research, the global drone delivery market is expected to be valued at $1.68 billion in 2023 and is expected to witness a CAGR of 14.50% until 2030.

Companies and governments will increasingly use drones for delivery by e-commerce companies, food delivery, and medical assistance, including delivering medicines. In India, Telangana (Hyderabad) has already tested the technology to deliver COVID vaccines by drones. Apart from savings on cost and time, drones provide easy access to remote villages, especially during the monsoon season.

The key market players in the drone delivery market include Airbus SA, Alibaba, Amazon, The Boeing Company, Cheetah Logistics Technology, DHL International GmbH, Drone Delivery Canada Corp., Flirtey, FlyTrex, Wing Aviation LLC, Manna Aero, Matternet Inc., Rakuten Drone, Skycart Inc., Uber Technologies Inc., United Parcel Service, Zipline, and Zomato.” – BIS Research

New Drone Policy for India on The Anvil

On July 15, 2021, the Ministry of Civil Aviation published the draft ‘Drone Rules 2021’. The new rules will ultimately replace the previous ‘Unmanned Aircraft System (UAS) Rules 2021’, which came into force March this year. The draft rules are open for public suggestions until August 5.

These rules are more ‘drone application friendly’ and are written based on trust, self-certification, and non-invasive monitoring. The number of approval forms has been brought down to 6 from the previous 28.

Will we see a Drone boom in the country? Your comments are always welcome.