Drones - #SectorUpdates
Unmanned aerial vehicles (UAV), also known as drones, are aircraft that do not require a human pilot. The drone industry in India is still in its formative stage, but it is projected to grow and evolve over the next few years. At present, drones are widely used in military and commercial applications such as surveillance, crop protection, construction project surveying, filmmaking, healthcare, e-commerce delivery, and more. According to Ministry estimate, India’s drone sector will achieve a turnover of Rs 12,000-15,000 crore by 2026, from about Rs 80 crore at present. This sector is getting a lot of support and thrust from the Government especially under the Make in India drive. Today in fact the airspace over which one can fly a drone has now been increased to almost 85 percent of India’s total air space, which is a six-fold increase from before. The PLI (performance linked incentive scheme) launched by the Union Government in August 2021 will help encourage domestic players to play a pivotal role in the development of drone sector and will also reduce India’s dependence on imports. This PLI scheme, has an outlay of Rs 120 crore spread over three years for drone manufacturers, and has also put a ban on the imports of drones. Given the huge demand and market growth in this sector, the number of drone start-ups in the country has jumped from 34.4 percent between August 2021 and February 2022. India at present boasts of 220 drone startups.