6Wresearch-Propelled by Increasing Defense Spending, India is Poised to Emerge as Key Potential Market for Unmanned Aerial Vehicles (UAVs)

6Wresearch- Market Intelligence Solutions

6Wresearch announces the release of most anticipated “India UAV Market (2015-2021)” report covering UAV types, range types, applications, market trends and upcoming projects. The report estimates and forecast market by UAV types such as Mini – UAVs (Low Altitude-Low Endurance), Medium Range UAVs (Low Altitude-Medium Endurance), Long Range UAVs (Medium Altitude-Long Endurance), and Long Range UAVs (High Altitude-Long Endurance). The report also segregates market into different range types for Mini-UAVs (under 3mi & 4mi-10mi) and Medium Range UAVs (5mi-10mi & 11mi-20mi).

Increasing terrorist activities, border security, rising defense budget, FDI, favorable government policies on import and increased domestic production campaigning for defense aircrafts and military equipment have driven the penetration of UAVs in the Indian market. After China and Japan, India is emerging as one of the key markets for UAVs in Asia-Pacific region. India is also one the largest importers for defense equipment worldwide. After the introduction of “Make in India” campaign by the Government of India in 2014, India is anticipated to commence the production of various defense equipment in the coming years due to surging FDIs in defense sector and growing partnerships.

Israel is the leading supplier for UAVs and related equipment in the Indian market, followed by Taiwan, Japan, China, South Korea and U.S, in volume terms. India has already attained Israel’s Heron UAVs (Long Range UAVs- Medium Altitude & Long Endurance); over 45 Heron UAVs have been commissioned into Indian Army and further expected to acquire 30-40 Heron UAVs over the next six years. With increasing purchase of UAVs by India’s defense forces, players from countries such as U.K., France, Russia and Germany are also expected to bank Indian market.

According to 6Wresearch, India UAV Market is anticipated to reach $421 million by 2021. In India’s UAV market, military application accounted for majority of the revenue share. Other than military application, law enforcement is emerging as a key application for UAV; Tier-I cities witnessing significant growth owing to increase in crime rate. In 2014, as a result of increasing crime, Delhi law enforcement authorities deployed mini-UAVs covering major public gathering regions across Delhi. Additionally, before the imposed restrictions on the use of UAVs for civil application by Directorate General of Civil Aviation (DGCA), mini-UAVs have been used for application related to events. By 2016, DGCA is likely to introduce new set of regulations on the usage of UAVs, subsequently fueling the demand especially in retail and hospitality sectors.

In India UAV market, long range UAV segment (Medium Altitude- Long Endurance) accounts for majority of the market revenue; India presently acquires Israel’s Searcher I, II & Heron UAVs, Defence Research & Development Organisation (DRDO) Rustom-1 & Rustom-H UAVs. Further, DRDO’s Rustom-2 medium range UAV was recently inducted by Indian Army. India is also likely to purchase U.S.’ most successful medium range UAV “Predator XP” in the next two years. In addition, India and U.S. to jointly manufacture AeroVironment’s “Raven UAV” ranging from 5mi and above from 2015 onwards, in Bengaluru based production facility.

India Unmanned Aerial Vehicle (UAV) Market (2015–2021)” provides in-depth analysis with 68 figures and 10 tables. The report also gives the insights on competitive landscape, market share by companies, price trends, company profiles, market drivers and restraints.

Source:  http://www.6wresearch.com/press-releases/india-unmanned-aerial-vehicle-uav-market-2015-2021-share-news-forecasts-trends.html

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Author: 6wresearch- Market Intelligence Solutions

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