As India looks at becoming a global hub for drone manufacturing, it will need to address certain concerns to ensure the nascent industry soars to its intended heights
India has the potential to become a drone manufacturing hub. As of 2020, the total market size of the Indian drone manufacturing market was Rs 2,900 crore
Some of the future estimates are:-
Year 2025
-Counter-unmanned aircraft system: 20,000 crore
-Defence: Rs 38,300 crore
-Commercial: Rs 13,000 crore
-Homeland security: Rs 6,000 crore
-Total market size: RS 77,300 crore
-40% hardware indigenisation: Rs 32,640 crore
-Exports: Rs 4,300 crore
Year 2030
-Counter-unmanned aircraft system:
Rs 49,000 crore
-Defence: Rs 1,01,000 crore
-Commercial: Rs 75,000 crore
-Homeland security: Rs 23,000 crore
-Total market size: Rs 2,48,000 crore
-60% hardware indigenisation:
Rs 1,77,000 crore
-Exports: Rs 47,000 crore
- A liberalised framework together with the PLI scheme has played a significant role in supporting local innovation through the Make in India programme
- Drone start-ups have raised $25.67 million of equity funding in FY22 compared to $11.2 million in FY21, according to data from Tracxn; and in FY23, the industry had raised $49.7 million till March 277
- DroneAcharya Arial Innovations raised $4.6 million in pre-seed round, IPO listed in 2022
- Garuda Aerospace Funds raised $22 million in Series A round
- ideaForge Technology filed DRHP for IPO, issued shares worth Rs 300 crore
- Lack of training schools
- Lack of drone trackers
- Supply-side issues for key components like batteries, motors, propellers
- Cross-border drone infiltration
Some of the industries which can make effective use of drones include agriculture, health and family welfare, defence and security, housing and urban affairs, rail and road transport, mining, ports, shipping and highways