In drone technology, India is witnessing a new wave of innovation and the industry is breaking boundaries. The unmanned aerial systems (UAVs) industry is estimated at $19.3 billion in 2019 and is projected to reach $45.8 billion by 2025. It is in line with the worldwide drone industry which is predicted to increase at a 13.8 percent CAGR to $50 billion by 2025. With such an unprecedented scale, India is anticipated to be the world’s third-largest drone market by 2025. The drone ecosystem is also fueling the startup revolution with more than 500 startups in India racing to use drone technology to solve varied problems.
Companies across industries are optimistic about the use of drones to perform critical activities in areas as diverse from military intelligence, surveillance, and reconnaissance to the range of civilian and commercial activities such as medical sample delivery,
infrastructure inspections, and imaging capabilities. In Defence and Aerospace, drones are becoming a critical component. The war in Ukraine has once again highlighted the role of drones in combat for both surveillance and punitive action.
The advent of drone technology brings together and expands upon many existing technologies in the fields of Advanced sensors, Computer Vision, Advanced and Small CPUs & GPUs, LiDAR, and manufacturing capabilities. The challenges remain in developing such critical components domestically.
Financial Express invites experts from the industry to engage, deliberate, and provide critical guidance on such challenges.