Drones are aircraft, also known as Unmanned aerial vehicles or (UAVs), that do not require a human pilot. Although in its nascent stage, the drone industry in India is expected to evolve and grow over the next few years. Drones are widely used in commercial applications such as crop protection, construction project surveying, surveillance, healthcare, e-commerce delivery, filmmaking, and more.
Drones are dominating the headlines over the last couple of years now. The new liberalized rules by the Government have brought some innovations launched every month. The Indian market will witness drones as the next considerable tech disruption. Since 2018, India's drone market has been legalized by the Government and skyrocketing while capitalizing rapidly. India is marching towards the Honorable PM Narendra Modi's aim of making India a drone hub by 2030. It is also aided by the fact that venture capital firms in India are rapidly investing in startups in the drone industry.
Traditional methods are sometimes prone to human error and prone to human error. Hence, employing drones in their place can result in mass adoption and considerable cost savings while improving the value of information obtained.
Venture capital firms invest in companies and startups to identify and develop new use cases and drone applications. In addition, while corporations heavily invest in the drone ecosystem, venture capitalists keep a keen interest in startups in India, focusing on advancing and improving their technological capabilities.
Moreover, through the implementation of liberal policies and other initiatives by the Indian Government, which includes a production-linked incentive scheme known as drone shakti, increased air space is collectively supporting the market's growth.
Apart from accelerating the market, the increased array of drone applications is propelling the entire drone ecosystem, which includes drone platform services, repair and overhaul, drone training and education, and drone maintenance. Most companies are opting for drones as a service since the cost of an enterprise-level drone can be prohibitively expensive. This is anticipated to act as a growth boost for the Drone as a service sector which is what is Venture Capital firms are looking to invest in.
Moreover, drones have also provoked curiosity in startups in different fields, Besides the lure of remote-controlled flying cameras and spy planes. In India, drones serve various industries such as mapping, surveillance, agriculture, delivering supplies, etc.
Apart from investing, drone services are the biggest revolution in the days to come. As many solutions get standardized, there will be new and emerging spaces. This trend will be driven by creating new solutions and picking scale with existing ones. The service industry will expand with data collection and ML, Cloud, AI, and analytics to offer a full-stack solution.
New and promising startups will get involved as the sector grows with aid from venture capital finance and be a part of the drone-revolution phase, as many entrepreneurs will start adopting drones. The adoption by micro-entrepreneurs using drones and drone services will provide a kick to the drone ecosystem. It would massify drone adoption in India, using technology to drive innovation in India.
Drones will further aid in disaster management to save the lives of thousands of people in disaster-ravaged areas. Moreover, the use of drones aids in aerial perspective and helps in disaster management tasks. They'll help deliver essentials to those in distress, keep in contact with people, and conduct rescue operations to help people over some time in hazardous areas.
India is pushing to become the hub for drones with the aid of regulatory push and the startup ecosystem. India will look to reach heights in the drone manufacturing space similar to Industries like Software and ITS to create best-in-class drones and services globally to boost the Indian economy.
The features of Venture Capital and its philosophy follow a high-risk, high-reward basis with gains available in the long-term horizon. However, the attractive commercial viability of drone technology makes Venture Capital firms invest to unlock the technology's true potential.
Among the many, JC Team Capital, a venture capital firm in Canada, is investing early in promising technology-driven ventures such as Drone Industry through strategic capital. Their investment and strategic partnership with Aerosense Technology is taking the idea of drone assistance to the next level. They are serving the naval, defense, and robotics spaces to combine functionality design, innovation, and dynamic design to the next level.
While Urban India will set the initial acceleration, small towns will shift the momentum. The rise of India's drone industry has seen tremendous development. It is soon on its way to becoming a multi-billion-dollar industry over the next decade, with India as the drone hub of the world.
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