India’s Counter-Drone Market will register 28% annual growth over next five years.
As per a report by financial services company Motilal Oswal, in the next five years, India’s counter-drone market is expected to grow at an annual rate of 28%.
The counter-drone systems market will reach to Rs 120 billion (approximately $1.6 billion) over the next five years.
This projection is based on the requirement for nearly 1,200 counter-drone systems, each costing between Rs 80 to 150 million.
It will create an annual market opportunity of nearly Rs 24 billion.
The military training simulators market in India is projected to reach between Rs 140 and 150 billion over the next five years.
The broader defense electronics market in India is expected to reach $7 billion by 2030, growing at an annual rate of 15.7%.
At present, 60% of electronic components are supplied by foreign manufacturers.
The changing nature of warfare, including the increased use of drones for various purposes, is increasing the demand for anti-drone systems.
