India’s Counter-drone Market To Grow At 28% Annually In 5 Yrs: Report

Driven by an increased need for systems to counter aerial attacks, India’s counter-drone market is projected to grow at an annual growth rate of 28 per cent over the next five years, as per a report by Motilal Oswal, a financial services company. It added that the substantial demand is expected to create a yearly market opportunity of nearly Rs 24 billion over the next five years.

Based on a requirement for nearly 1,200 counter-drone systems, each costing about Rs 80 to 150 million, the report estimated the addressable market at Rs 120 billion over the next five years.

The report noted that systems with a range of more than five kilometres in the drone market are growing faster than those with a lesser range. The technology in this segment is evolving to improve range, with each counter-drone system having a lifespan of about ten years.

The cumulative defense electronics market was worth about USD 8.1 billion from 2016 to 2020 and it stood at USD 1.9 billion in 2021, as per the report. The market is expected to grow to USD 7 billion by 2030, with an annual growth rate of 15.7 per cent from 2020 to 2030.

The report stated that the simulators market in the country is expected to reach between Rs 140 to 150 billion over the next five years. Military training simulators play a crucial role in training armed forces in the country as they can simulate a wide range of scenarios, including air-to-air combat, ground combat and naval warfare.

With the introduction of the Agnipath scheme for the armed forces, the requirement of simulators is set to increase as the agniveers need to be trained in a much faster time, since their tenure is very short.