'INDIA'S COUNTER-DRONE MARKET SET FOR 28 PC ANNUAL GROWTH IN NEXT 5 YEARS'

India's counter-drone market is projected to grow at an annual rate of 28 per cent over the next five years, highlights a report by Motilal Oswal, a financial services company.

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The drone market is driven by an increased need for systems to counter aerial attacks. The report estimates the addressable market for counter-drone systems at Rs 120 billion over the next five years, based on a requirement for nearly 1,200 counterdrone systems, each costing about Rs 80 to 150 million. This substantial demand is expected to create a yearly market opportunity of nearly Rs 24 billion over the next five years.

In the drone market, systems with a range of more than 5 kilometres are growing faster than those with a range of fewer than 5 kilometres. The technology in this space is continuously evolving to improve range, with each counter-drone system having a lifespan of about 10 years and requiring regular software upgrades.