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3. India Drone Companies - ideaforge Technology Ltd. (India) and Newspace Research Technologies Pvt. Ltd. (India) are the Key Players

The India Drone Market is projected to grow from USD 654 Million in 2024 to USD 1,437 Million by 2029, at a CAGR of 17.0% during the forecast period. The Drone volume in the India Drone Market is projected to grow from 10,803 Units in 2024 to 61,393 Units by 2029. The India drone market is experiencing rapid growth, driven by increasing demand across various sectors, including agriculture, defense, and e-commerce. Supportive government policies and initiatives, such as the Drone Shakti scheme, have further expanded the industry.

Major Service providers in this market are India-based drone manufacturing companies, such as Paras Aerospace, ideaforge Technology Ltd., Throttle Aerospace Systems Pvt. Ltd., Garuda Aerospace, Asteria Aerospace Limited, General Aeronautics, and Newspace Research Technologies Pvt. Ltd., Iotechworld, Adani Defense and Aerospace, Tata Advanced Systems Limited, CDSpace, Thanos, Dhaksha Unmanned Systems, Marut Dronetech Private Limited, Hubblefly Technologies, Raphe like more than 25 companies have been analyzed based on different parameters, including product portfolios, recent developments, business strategies, and organic and inorganic growth, among others.

To know about the assumptions considered for the study download the pdf brochure

Major India Drone companies include:

• Paras Aerospace (India)
• ideaforge Technology Ltd. (India)
• Throttle Aerospace Systems Pvt. Ltd. (India)
• Garuda Aerospace (India)
• Asteria Aerospace Limited (India)
• General Aeronautics (India)
• Newspace Research Technologies Pvt. Ltd. (India)
• Iotechworld (India)
• Adani Defense and Aerospace (India)
• Tata Advanced Systems Limited (India)
• Thanos (India)
• Dhaksha Unmanned Systems (India)
• Marut Dronetech Private Limited (India)
• Hubblefly Technologies (India)
• Raphe (India)

These players have adopted various growth strategies to strengthen their position in the market. These include product launches, contracts, partnerships, mergers and acquisitions, and new product development activities to expand their presence in the India Drone market.

ideaForge Technology Ltd.

ideaForge Technology Ltd. has the largest operational deployment of indigenous UAVs across India. Its drone takes flight approximately every five minutes for surveillance and mapping purposes. Its customers have executed over 400,000 flights utilizing UAVs, solidifying its position as a dominant player in the market. ideaForge UAVs offer a diverse range of applications, including mapping and surveying, as well as security and surveillance. The company attained the fifth global ranking in the dual-use category (civil and defense) among drone manufacturers, per the report released by Drone Industry Insights in December 2023.

ideaForge Technology Ltd. has received support from various venture capitalists and private equity investors, such as Qualcomm Asia (Singapore), Infosys (India), and Celesta Capital (India). Its UAV platforms are thoroughly crafted with a mission first ethos. It became the first company to develop and manufacture vertical take-off and landing (VTOL) UAVs indigenously in 2009. Its extensive product portfolios cater to civil and defense applications.

NewSpace Research and Technologies

NewSpace Research and Technologies (NRT) is one of India's fastest-growing Aerospace & Defence R&D companies, spearheading the development of UAS with a global outlook. In March 2024, NRT secured substantial funding, raising a bridge round of USD 33 million from prominent investors and obtaining debt facilities of USD 19 million from SBI's startup hub and SIDBI (USD 52 million).

IoTechWorld

IoTechWorld specializes in the manufacturing and sales of drones. Its flagship products include the Agribot Agriculture drone, which is optimized for precision farming. The Surveybot is designed for accurate mapping and surveying tasks. The Heavybot is designed for efficient logistics operations, and the Drishti drone specializes in surveillance and monitoring applications. Its drones find applications across various sectors, including agriculture and defense. In agricultural applications, these drones play a crucial role in precision farming, crop monitoring, and pesticide spraying, enabling farmers to optimize yields and reduce costs. In defense applications, these drones are utilized for surveillance, reconnaissance, and monitoring purposes, providing valuable intelligence and enhancing situational awareness for defense forces. IoTechWorld has a network of 30 sale points established across the country.

Garuda Aerospace

Garuda Aerospace offers Drone-As-A-Service solutions and a diverse range of applications, including surveillance, agriculture, mapping, security, delivery, and more. Its portfolio extends beyond traditional applications, encompassing advanced services such as thermal imaging, ultrasonic thickness testing, and Industry 4.0 upgrade solutions. The company has partnered with manufacturers across US, Canada, Israel, and Europe to penetrate the Indian drone market.

Garuda Aerospace has a wide client base, including over 400 government agencies and 100+ satisfied clients across India. Its automated drone technology services, along with software and analytical tools, have received recognition nationally and internationally. Operating across 26 cities, the company has won the NDRF Award for Bravery and secured a USD 1 million term sheet from a Global Fund.

Garuda Aerospace caters to a wide range of industries, including agriculture, disaster management, anti-drone systems, delivery and load carrying, warehouse management, project management and structural inspection, highway and traffic management, mapping services and topographical surveying, sanitization, internal boiler inspection, chimney and stack inspection, solar panel inspection and cleaning, structural damage assessment, thermography drone services, LiDAR analysis, wind turbine inspection, mining site inspection, powerline inspection and stringing, and environmental impact assessment. This diverse portfolio allows it to address various industry needs with precision and efficiency, further solidifying its position as a leader in the drone technology sector.

Asteria Aerospace

Asteria Aerospace Limited leverages its in-house capabilities in hardware design, software development, and manufacturing. It develops customized drone solutions tailored to government and enterprise applications. Its A200 micro drone made history by receiving the first Unique Identification Number (UIN) in India, U0000001, from the Director General of Civil Aviation (DGCA). It has a track record of deploying over 400 drones and an annual production capacity exceeding 2,000 drones.

With over 100 personnel in R&D, Asteria Aerospace Limited focuses on innovation to deliver leading products and solutions. The company serves a diverse clientele, including defense and homeland security, agriculture, telecommunications, oil and gas, energy and utilities, GIS surveying and mapping, industrial security, and mining and metals.  Its product lineup includes the A200, recognized as India’s first micro-category drone with DGCA-type certification for surveying and mapping applications, offering flight time and range capabilities. The A200-XT, a small drone with DGCA-type certification, caters to surveillance, inspection, and mapping applications. The A410-XT, another DGCA-type certified drone, offers payload capabilities for surveillance and industrial inspections. The AT-15, a VTOL Drone, is designed for Critical Intelligence, Surveillance and Reconnaissance (ISR) Missions, with flight time and range capabilities.

Related Reports:

India Drone Market by Platform (Civil and Commercial, Defense), Point of Sale (OEM, Aftermarket), Application (Military, Commercial, Government and Law Enforcement, Consumer), Systems and Industry - Forecast to 2029

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
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