Press release
Unmanned Aerial Vehicle (UAV) Market Comprehensive Insight by Growth Rate, Industry Status, Forecast till 2029
Global Unmanned Aerial Vehicle (UAV) market is anticipated to grow at a lucrative CAGR of 14.5% during the forecast period (2023-2030). The drone sector is a sunrise sector in India with the potential to significantly impact defense, surveillance, internal security, disaster management, agriculture, healthcare, geo-spatial mapping, mining, infrastructure, and aerial photography and cinematography, among many other areas. The Government of India has been promoting the manufacturing of drone and drone components through various policies and schemes, like Production-linked Incentive (PLI), with a vision to make India a global drone hub by 2030.
Under the PLI scheme, the government allocated INR 120 crore ($14.4 million) spread over three financial years for drones and drone components. The policy mandates a constant PLI rate of 20%?for all three years, an?exceptional treatment?given only to the drone industry. As the number of UAVs is bound to increase, in 2021, the Ministry of Civil Aviation published the National Unmanned Aircraft System Traffic Management (UTM) Policy Framework to lay down a policy framework for enabling high-density, complex unmanned aircraft operations in very low-level Indian airspace.
To promote the growth of the industry, the Rules abolished the need for registration and security clearances for operating non-commercial drones in the Green zones. Similarly, the new rules abolished the requirement of remote pilot licenses for nano and micro drones (up to 2 KG) for non-commercial use by education, research and development entities, Startups recognized by the Department for Promotion of Industry and Internal Trade, and authorized testing entities. To encourage manufacturing, research, and innovation, the government also liberalized the import and foreign ownership of Indian drone companies.
According to Invest India, the Ministry of Civil Aviation expects that over the next three years, the drones and drone components manufacturing industry may witness an investment of over INR 5,000 Cr ($601 million), and the annual sales turnover of the industry may grow from INR 60 Cr (7.2 million) in 2020-21 to over INR 900 Cr ($108.2 million) in FY 2023-24
To Request a Sample of our Report on Unmanned Aerial Vehicle (UAV) Market: https://www.omrglobal.com/request-sample/unmanned-aerial-vehicle-market
Market Coverage
The market number available for - 2022-2030
Base year- 2022
Forecast period- 2023-2030
Segment Covered-
By Type
By Range
By Application
Regions Covered-
North America
Europe
Asia-Pacific
Rest of the World
Competitive Landscape- Thales Group, Elbit Systems Ltd., Northrop Grumman Corp., BAE Systems PLC, and Israel Aerospace Industries Ltd. among others.
Unmanned Aerial Vehicle (UAV) Market Report Segment
By Type
Fixed-wing (MALE, HALE, TUAV)
VTOL (Single Rotor, Multi Rotor)
By Range
Visual Range of Sight (VLOS)
Beyond Visual Line of Sight (BVLOS)
By Application
Military
Civil and Commercial
A full Report of Unmanned Aerial Vehicle (UAV) Market is Available @ https://www.omrglobal.com/industry-reports/unmanned-aerial-vehicle-market
Unmanned Aerial Vehicle (UAV) Market Report Segment by Region
North America
United States
Canada
Europe
UK
Germany
Spain
France
Italy
Rest of Europe
Asia-Pacific
India
China
Japan
South Korea
Rest of APAC
Rest of the World
Latin America
Middle East and Africa
Company Profiles
3DR Inc.
AeroVironment Inc.
BAYKAR
Birdseyeview Aerobotics Inc.
Delair SAS
DJI
DroneDeploy Inc.
General Atomics
Insitu Inc.
Intel Corp.
Leonardo SpA
Microdrones GmbH
Parrot SA
PrecisionHawk Inc.
Terra Drone Corp.
Textron Inc.
The Boeing Company
Yuneec International
Reasons to buy from us -
We cover more than 15 major industries, further segmented into more than 90 sectors.
More than 120 countries are for analysis.
Over 100+ paid data sources mined for investigation.
Our expert research analysts answer all your questions before and after purchasing your report.
For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/unmanned-aerial-vehicle-market
Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +91 7803040404
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.
Under the PLI scheme, the government allocated INR 120 crore ($14.4 million) spread over three financial years for drones and drone components. The policy mandates a constant PLI rate of 20%?for all three years, an?exceptional treatment?given only to the drone industry. As the number of UAVs is bound to increase, in 2021, the Ministry of Civil Aviation published the National Unmanned Aircraft System Traffic Management (UTM) Policy Framework to lay down a policy framework for enabling high-density, complex unmanned aircraft operations in very low-level Indian airspace.
To promote the growth of the industry, the Rules abolished the need for registration and security clearances for operating non-commercial drones in the Green zones. Similarly, the new rules abolished the requirement of remote pilot licenses for nano and micro drones (up to 2 KG) for non-commercial use by education, research and development entities, Startups recognized by the Department for Promotion of Industry and Internal Trade, and authorized testing entities. To encourage manufacturing, research, and innovation, the government also liberalized the import and foreign ownership of Indian drone companies.
According to Invest India, the Ministry of Civil Aviation expects that over the next three years, the drones and drone components manufacturing industry may witness an investment of over INR 5,000 Cr ($601 million), and the annual sales turnover of the industry may grow from INR 60 Cr (7.2 million) in 2020-21 to over INR 900 Cr ($108.2 million) in FY 2023-24
To Request a Sample of our Report on Unmanned Aerial Vehicle (UAV) Market: https://www.omrglobal.com/request-sample/unmanned-aerial-vehicle-market
Market Coverage
The market number available for - 2022-2030
Base year- 2022
Forecast period- 2023-2030
Segment Covered-
By Type
By Range
By Application
Regions Covered-
North America
Europe
Asia-Pacific
Rest of the World
Competitive Landscape- Thales Group, Elbit Systems Ltd., Northrop Grumman Corp., BAE Systems PLC, and Israel Aerospace Industries Ltd. among others.
Unmanned Aerial Vehicle (UAV) Market Report Segment
By Type
Fixed-wing (MALE, HALE, TUAV)
VTOL (Single Rotor, Multi Rotor)
By Range
Visual Range of Sight (VLOS)
Beyond Visual Line of Sight (BVLOS)
By Application
Military
Civil and Commercial
A full Report of Unmanned Aerial Vehicle (UAV) Market is Available @ https://www.omrglobal.com/industry-reports/unmanned-aerial-vehicle-market
Unmanned Aerial Vehicle (UAV) Market Report Segment by Region
North America
United States
Canada
Europe
UK
Germany
Spain
France
Italy
Rest of Europe
Asia-Pacific
India
China
Japan
South Korea
Rest of APAC
Rest of the World
Latin America
Middle East and Africa
Company Profiles
3DR Inc.
AeroVironment Inc.
BAYKAR
Birdseyeview Aerobotics Inc.
Delair SAS
DJI
DroneDeploy Inc.
General Atomics
Insitu Inc.
Intel Corp.
Leonardo SpA
Microdrones GmbH
Parrot SA
PrecisionHawk Inc.
Terra Drone Corp.
Textron Inc.
The Boeing Company
Yuneec International
Reasons to buy from us -
We cover more than 15 major industries, further segmented into more than 90 sectors.
More than 120 countries are for analysis.
Over 100+ paid data sources mined for investigation.
Our expert research analysts answer all your questions before and after purchasing your report.
For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/unmanned-aerial-vehicle-market
Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +91 7803040404
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage
to this press release on woodPRI. woodPRI disclaims liability for any content contained in
this release.
Recommend
/newsMicroencapsulation Market Deep Analysis on Key Players - Dow Corning, Encapsys, Syngenta Crop Protection, Evonik Industries, 3M and Bayer
Market Study Report Adds Global Microencapsulation Market Size, Status and Forecast 2024 added to its database. The report provides key statistics on the current state of the industry and other analytical data to understand the market.
Extensive research is required for choosing the appropriate cor...
/newsGermany Airbag Market Size 2023: Global Share, Industry And Report Analysis By 2030 | Hyundai Mobis Co., Ltd. Key Safety Systems, Inc. Robert Bosch GmbH
Germany airbag market is expected to grow at a CAGR of around 6% during the forecast period. Germany Airbag Market research report refers to gathering and analyzing significant market data serve as best medium for various industry players to launch novel product or service. It is vital for key firms...
/newsSecurities Brokerages And Stock Exchanges Market Outlook 2021: Big Things are Happening
A new intelligence report released by HTF MI with title "Global Securities Brokerages And Stock Exchanges Market Survey & Outlook" is designed covering micro level of analysis by Insurers and key business segments, offerings and sales channels. The Global Securities Brokerages And Stock Exchange...
/newsRenewable Chemicals Market Emerging Trends and Competitive Landscape Forecast to 2028
The renewable chemicals market was valued at US$ 80,566.30 million in 2021 and is projected to reach US$ 1,76,750.76 million by 2028 it is expected to grow at a CAGR of 11.9% from 2021 to 2028. The research report focuses on the current market trends, opportunities, future potential of the market, a...
/newsHow Coronavirus is Impacting Cold Brew Coffee, Global Market Volume Analysis, Size, Share and Key Trends 2020-2026
"Market Latest Research Report 2020:
Los Angles United States, February 2020: The Cold Brew Coffee market has been garnering remarkable momentum in the recent years. The steadily escalating demand due to improving purchasing power is projected to bode well for the global market. QY Research's lates...
/newsCorporate E-Learning Market - Global Industry Size, Share, Key Players Analysis that are Infor, SkillSoft Corporation, Adrenna, CERTPOINT Systems and others with Regional Forecast to 2022
Overview:
E-Learning is used to enhance the learning procedures for newer job requirements and to make employees sound about the internal and external changes in the market and respective organizations. This method has created considerable differences in the ways of training and developing employee...
