This research study on the India drone market market involved the extensive use of secondary sources, directories, and databases, such as Hoovers, Bloomberg BusinessWeek, and Factiva, to identify and collect information relevant to the market. The primary sources considered included industry experts, as well as manufacturers, system providers, technology developers, alliances, and organizations related to all segments of the value chain of this UAV industry. In-depth interviews with various primary respondents, including key industry participants, subject-matter experts (SME), industry consultants, and C-level executives, were conducted to obtain and verify critical qualitative and quantitative information pertaining to the market and assess its growth prospects.
Secondary Research
The ranking analysis of companies in the Indian drone market was carried out using secondary data from paid and unpaid sources and by analyzing the product portfolios and service offerings of key companies operating in the market. These companies were rated based on their performance, market strategies, application footprint, type certification for drones, funding, and quality of their products. These data points were further validated by primary sources.
Secondary sources referred to for this research study included financial statements of companies offering UAVs for defense and government, as well as civil and commercial platforms, along with information from various trade, business, and professional.
Primary Research
Extensive primary research was conducted after obtaining information about the current scenario of the India drone market through secondary research. Several primary interviews were conducted with market experts from both the demand and supply sides across six regions of the drone ecosystem. This primary data was collected through questionnaires, emails, and telephonic interviews.
In the primary research process, various sources from both, the supply and demand sides were interviewed to obtain qualitative and quantitative information on the market. The primary sources from the supply side included various industry experts, such as chief X officers (CXO), vice presidents (VP), and directors from business development, marketing, and product development/innovation teams; related key executives from the market participants, such as ideaforge, independent drone consultants and researcher; importers; distributors of drone systems and payload for drones; and the key opinion leaders.
Primary interviews were conducted to gather insights related to market statistics, revenue data collected from various products and services, market breakdowns, market size estimations, market size forecasting, and data triangulation. Primary research also helped analyze the point of sale, platform, system, industry, application, type, and segments of the market. Stakeholders from the demand side, such as CXO, production managers, and maintenance engineers, were interviewed to understand buyers' perspectives on product suppliers and service providers, along with their current usage. It also helped in understanding the future outlook of their businesses that would affect the overall India drone market.
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Market Size Estimation
The research methodology used to estimate the size of the India drone market includes the following details.
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The top-down and bottom-up approaches were used to estimate and validate the size of the India drone market. The research methodology used to estimate the market size includes the following details.
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The key players were identified through secondary research, and their market ranking was determined through primary and secondary research. This included a study of the annual and financial reports of the top market players and extensive interviews of leaders, including chief executive officers (CEO), directors, and marketing executives.
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All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All possible parameters that affect the markets covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data. This data was consolidated, enhanced with detailed inputs, analyzed by MarketsandMarkets, and presented in this report.
India Drone Market Size: Bottom-Up Approach
The bottom-up approach was employed to determine the overall size of the India drone market from the revenues of the key players in the market.
All types of drones used across different industries were considered to estimate the size of the Indian drone market. The final numbers were derived based on the demand for drones from military, government and law enforcement, commercial, and consumer applications. Independent approaches were used to estimate the demand for UAVs in each application. The India drone market, by platform, was used as a primary segment for the estimation and projection of the global market size from 2024 to 2029.
The estimation of the size of the military application segment of the UAV market was carried out by considering several parameters, such as the defense budget spent, new contracts, current or future indigenous drone programs, and an active fleet of drones. These parameters were studied for each military drone type, and the military platform volume size was obtained; a further product of these volume sizes and average selling price led to the India market size. The military drone market, by platform, was used as a primary segment for estimating and projecting the global market size from 2024 to 2029.
India Drone Market Size: Top Down Approach
In the top-down approach, the size of the India drone market was used to estimate the size of individual markets (mentioned in the market segmentation) through percentage splits from secondary and primary research. For the calculation of the sizes of specific segments, the size of the most appropriate immediate parent market was used to implement the top-down approach.
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In the top-down approach, the overall market size was used to estimate the size of individual markets (mentioned in the market segmentation) acquired through percentage splits from secondary and primary research.
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The size of the most appropriate and immediate parent market has been used to calculate specific market segments to implement the top-down approach.
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Companies providing drones in india are included in the report.
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The total revenue of these companies has been identified through their annual reports and other authentic sources. In cases where annual reports are unavailable, company earnings have been estimated based on the number of employees, Factiva, ZoomInfo, press releases, and publicly available data.
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Company revenue has been calculated based on the revenue of companies.
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All publicly available company contracts related to the India drone market have been mapped and summed up.
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Based on the parameters (contracts, agreements, partnerships, joint ventures, product matrix, secondary research), the share of the India drone market in each segment has been estimated.
Data Triangulation
After arriving at the overall market size, the total market has been split into several segments and subsegments. The data triangulation and market breakdown procedures explained below have been implemented, wherever applicable, to complete the overall market engineering process and arrive at the estimated market numbers for India drone market segments and subsegments. The data has been triangulated by studying various factors and trends from both the demand and supply sides. Along with this, the market size was validated using the top-down and bottom-up approaches.
Market Definition
The India drone market encompasses the design, manufacture, and assembly, maintenance, repair, and operations (MRO), replacement of parts, simulation and training (exclude third-party training) of unmanned aerial vehicles (UAVs), which means the drones across a wide spectrum of applications, ranging from commercial to governmental and military uses. This market segment includes various drone platforms, such as micro, small, medium, and large models for civil, commercial, and military purposes, as well as small, tactical, and strategic models.
Definition- Drones are remotely piloted, optionally piloted, or fully autonomous aerial UAVs.
Classification of civil and commercial drones based on maximum all-up weight, including payload as per India drone rule, 2021, be classified as follows:
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Micro Drones weighing over 250 grams but less than or equal to 2 kilograms
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Small Drones weighing over 2 kilograms but less than or equal to 25 kilograms
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Medium Drones weighing more than 25 kilograms but less than or equal to 150 kilograms
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Large Drones weighing more than 150 kilograms
Classification of military drones based on platforms can be classified as follows:
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Small Drones include nano, micro, and mini drones that fly at an altitude of less than 350 meters
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Tactical Drones fly at altitudes ranging between 3,000 and 8,000 meters and are principally used in military applications.
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Strategic Drones are High-altitude long-endurance (HALE) and medium-altitude long-endurance (MALE) UAVs that fall under the category of strategic drones. These UAVs tend to be heavy at high altitudes and, hence, require long endurance and increased range.
Market Stakeholders
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Drone Manufacturers and Developers
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Drone Component Manufacturers and Providers
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Raw Material Suppliers
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Distributors
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Maintenance, Repair, and Overhaul (MRO) Companies
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Government Agencies
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Investors And Financial Community Professionals
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Research Organizations
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Drone Service Providers
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Drone Consultancy
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Drone Legal Advisors
Report Objectives
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To define, describe, and forecast the India drone market based on system, platform, application, industry, and point of sale from 2024 to 2029
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To forecast the size of various segments of the market with respect to India only
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To identify and analyze key drivers, restraints, opportunities, and challenges influencing the growth of the market
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To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and their contribution to the market
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To analyze opportunities for stakeholders in the market by identifying key market trends
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To analyze competitive developments such as contracts, acquisitions, agreements, deals and product launches in the market
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To provide a detailed competitive landscape of the market, in addition to an analysis of business and corporate strategies adopted by leading market players
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To strategically profile key market players and comprehensively analyze their core competencies2.
Available Customizations
MarketsAndMarkets offers the following customizations for this market report:
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Additional subsegmental level analysis of the India Drone market
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Profiling of additional market players (up to 5)
Product Analysis
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Product matrix, which provides a detailed comparison of the product portfolio of each company in the India drone market
Growth opportunities and latent adjacency in India Drone Market