The market for unmanned aerial vehicles (UAV) in India is growing fast, as the country has become one of the top UAV importers for military use worldwide, according to a report from global market intelligence and advisory firm BIS Research.
The report said the Indian UAV market will reach 885.7 million dollars by 2021, including military and commercial applications. Rahul Papney, lead analyst of BIS Research, said that India has great market potential, and that its commercial market will overtake its military market by 2021. The commercial market is rising fast with the creation of more cost-effective and feature-packed UAVs, Papney said.
Some Indian companies such as AUS, IdeaForge and Quidich are already manufacturing or operating UAVs, the report also said.