Drone Industry - #SectorUpdates
A forecast from The Civil Aviation Ministry predicts that India’s drone industry will grow from its current annual revenue of roughly Rs 80 crore to a range of Rs 12,000 – 15,000 crore by 2026. There are now about 85 percent of India’s total airspace that drones are permitted to fly over, a six-fold increase from the past situation. Drones made in India are used in a variety of industries, including defense, recreation, and commerce. The Indian Unmanned Aerial Vehicle market has the potential to develop into one of the world’s most competitive sectors. Our market offers fantastic manufacturing opportunities, which will probably enhance the local competitive environment and increase employment in India. Over the next three years, the manufacturing of drones and drone component parts in India has the potential to bring in investments of Rs. 5,000 crore that is US$ 632.6 million. This will improve domestic manufacturing there and add more than 10,000 direct employment.