India should focus on emerging as a hub for medium and small drones

Published on February 15, 2024

India should focus on emerging as a hub for medium and small drones

The global military drone market size reached a value of around $ 14.22 billion in 2023 and it is expected to grow at a CAGR of 9.5% between 2024 and 2032, reaching a value of $32.20 billion by 2032. The increase in the defense expenditure by major countries is expected to be the major driving factor to boost the drone market. The global defence industry is heavily focused on remote surveillance, border security, thermographic inspection, infrastructure protection, law enforcement and firefighting, each of which requires technologically cutting-edge techniques and equipment. As a result, the demand for military drones has been increasing at a steady pace and thereby leading to a significant military drone market expansion throughout the forecast period. Drones are being gradually adopted by a large number of new international military organisations for combat operations, law enforcement and border protection. The growing demand for advanced military drones due to their cost effectiveness compared to manned aircraft and their increasing integration into ongoing warfare systems to deal with combat threats is spurring the military drones market.

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