The limit is not just the sky anymore!

Over the past few years, Drone market in India industry has experienced impressive growth, becoming a multi-billion-dollar powerhouse. The soaring success of this sector showcases its widespread impact and economic significance.

In the 1990s, the Indian military introduced the first drones. As India progressed, opportunities expanded beyond the military. Initially, only the military could use drones, but now, drones play diverse roles in aviation. They monitor climate change, aid post-disaster search operations, capture film, and enable communication in remote locations. This shift marks the broadening use of drones beyond military applications

“The Indian government, led by Civil Aviation Minister Shri Jyotiraditya Scindia, is supporting the drone industry’s growth. With the new drone market in India policy and PLI program, they expect Indian drone manufacturing to generate around INR 900 crores (US$122.44 million) in the next three years. This effort aims to build a complete drone business, covering everything from making the drones (hardware) to creating the software and offering related services. The PLI Scheme, with a budget of INR 1.2 billion (US$16.32 million) spread over three years, hopes to help the Indian drone sector reach a total revenue of INR 120 to 150 billion (US$1.63 billion to US$2.04 billion) by 2026.”

The Indian government, under Prime Minister Narendra Modi, is paving the way for a thriving drone market. With new rules, startups and young individuals in the drone industry are set to benefit. This move aims to create fresh business opportunities and foster innovation, leveraging India’s strengths in cinematography, engineering, technology, and creativity to establish the country as a drone center.

As part of the Make-in-India initiative, the government is making significant adjustments to regulations to promote more local manufacturing. Drones, with their diverse applications in agriculture, defense, law enforcement, surveillance, deliveries, workplace productivity, private events, and more, are at the forefront of this initiative. The government has a clear vision of making India a powerhouse for drone production by 2030, indicating substantial growth prospects for the sector.

The impact of these changes is already evident, with a 34.4% increase in the number of drone startups in India between August 2021 and February 2022, reaching a total of 220. This surge reflects the growing demand and expanding market for drone-related services and technologies in the country. Overall, the government’s proactive measures and the increasing number of startups signal a promising future for the drone industry in India.

Expect over 500,000 new jobs and significant growth, surpassing INR 300 billion, in the drone services sector within the next three years. Drones won’t be limited to just helping farmers, rural communities, soldiers, and businesses; their impact will extend to everyone, reaching beyond the skies. This projection underlines the substantial economic and employment opportunities that the expanding drone industry is poised to bring to India.

View the most recent Treading blog article offers, deals, and coupons today.