1. According to a recent GlobeNewswire report, the Indian drone market is forecasted to grow by $ 2,760 million during 2023 - 2028. What are the areas that the industry is going to focus on?
The Indian drone industry is set for unprecedented growth in the next few years. While the defence sector will continue to be the largest user, there will be a significant rise in the usage of drone technology by other sectors. Drones integrated with AI/ML, enhanced sensors, and advanced communications will not only redefine the concept of operations in modern-day warfare but also transform the way enterprises operate across sectors as diverse as agriculture, oil & gas, GIS, telecom, and utilities.
The focus area for the Indian drone industry will be on developing indigenous manufacturing capabilities and significantly bringing down reliance on the import of technology. The goal would be to build the most innovative and competitive products not just for India, but also for the world. There is a need to create a conducive environment for research & development in close collaboration between academia, industry, and government. Furthermore, the industry needs to work closely with the government and other stakeholders to create robust demand for drone technology, attract investments, and facilitate exports.
2. Technology advancements like artificial intelligence, robotics, thermal imaging, and automation among others support various commercial and civilian usage across different sectors in India. What would you suggest to leaders in creating reliable solutions for mission-critical applications to attract and build trust among customers, while maintaining their competitive edge?
Ensuring trust among customers while maintaining a competitive edge is paramount. Adherence to regulations and industry standards during manufacturing and operations is a cornerstone of building trust. For instance, acquiring DGCA-type certification for drones is a must under the Drones Rules 2021. Asteria Aerospace has 3 DGCA-certified drones, which inspires confidence in our customers and signals our commitment to quality and safety. Leaders should stay updated with these evolving standards and ensure that their solutions meet or exceed these requirements.
For mission-critical applications, quality assurance is non-negotiable. Leaders should adopt a holistic approach that encompasses rigorous testing, continuous monitoring, and robust validation processes while developing products and solutions. Further, establishing a robust customer support system is key to offering timely responses and ensuring the success of your customers while they adopt rapidly evolving drone technology. Proactive assistance during critical moments demonstrates a genuine dedication to customer success.
With the industry excited about the potential of AI/ML to streamline operations, leaders should also prioritize the integration of real-time analytics and monitoring tools on drone data to provide customers with actionable insights and predictive maintenance capabilities.
3. The government has executed a series of initiatives to help India grow as a renowned drone hub by 2030. How do you perceive these efforts in enabling synergies among stakeholders? Has there been an increase in the investor sentiment?
Over the course of five years, the Indian drone industry has gone through a journey from an outright ban on civil usage, to a heavy-handed regulation, to now a balanced and liberal regulation. The Drone Rules 2021 have greatly simplified the manufacturing, sales, and operations of drones which has made this technology favourable to be adopted across industry sectors. These regulations, along with the government’s Make In India push and the PLI scheme have played a significant role in encouraging Indian drone manufacturers to enhance their capabilities and increase their production. A slew of other positive initiatives, such as the drone type certification scheme, and Drone Shakti & Kisan Drones initiatives to increase drone adoption across industries have created a conducive environment for drone manufacturers and service providers in India.
In the last few years, some of the biggest investors and corporates have shown interest in the drone industry. Indian drone startups received over $39 million of equity funding in 2022 (according to Tracxn). This is more than double the funding that drone startups received in 2021 and reflects the positive investment sentiment in this sunrise sector.
4. Going forward, what will be the role played by AI, cloud, and robotics among other latest technologies, especially in terms of in-house improvements and customer experience? How does Asteria Aerospace look at this opportunity?
The drone industry itself is a confluence of various technologies across robotics, cloud, and AI. Going forward, the advancement of these technologies will see drones becoming intelligent flying robots. We're talking about autonomous and precise flight patterns, real-time data analysis, and superior decision-making in any environment. Cloud-based platforms can provide a centralized hub for scaling drone operations, making it easier for teams to collaborate, track flights, and manage regulatory compliance. These technologies will enable new use cases such as rapid and accurate delivery services, frequent and automated inspection of critical infrastructure, and precision agriculture at scale.
5. How has the role of modern-day leadership evolved in this sector? How should leaders develop working structures that attract and retain talent to score organizational and people goals? In the past, leadership was often associated with traditional hierarchies and top-down decision-making. However, in the modern-day industry, leadership has taken on a more dynamic and collaborative form. Leaders are no longer just managers; they are visionaries who inspire innovation, drive change, and navigate the complexities of a rapidly evolving technological landscape.
By fostering a culture of purpose, work autonomy, continuous learning, and collaboration, leaders can create working structures that not only attract and retain top talent but also propel the organization toward its goals, both in terms of technology advancements and people development.
6. You possess over a decade of experience in the drone industry overseeing transforming operations of unmanned aerial systems across industry sectors. What would be your advice to future leaders in this industry while hacking new opportunities?
Over the past decade, we have had the privilege of witnessing and contributing to the transformation of unmanned aerial systems across various industry sectors. For aspiring future leaders in this dynamic and exciting field, here are a few pieces of advice to consider while seizing new opportunities:
The drone industry is evolving at a remarkable pace. To stay at the forefront, it's essential to have a hunger for learning and a genuine curiosity about emerging technologies, regulations, and trends.