Drones have crossed the divide between the sci-fi world and the real world. While they were primarily used for defence purposes and the military, their commercial use in recent years became too prominent for the world to ignore. The first commercial drone took flight in 2006, the very same year the Federal Aviation Administration (FAA) issued its first commercial drone permit. But it was not until 2013 when Amazon announced that it was going to use drones for delivery purposes did that drones come into the mainstream. In 2015, the first medical delivery using a drone was successfully executed in the United States.
The drone market is majorly divided into two categories- one for commercial use and other for recreational purposes. The ones used for the latter purpose are referred to as "hobby drones". Since hobby drones don't necessarily need attachments as needed in commercial drones, they are cheaper.
The global commercial drone market was estimated at $13.4 billion in 2020 and expected to reach $30 billion by the end of 2022. According to a report by Fact.MR, the drone market is anticipated to grow by a compounded annual growth rate of 25 per cent from 2022 to 2032 to reach a market value of $279 billion. "The use of drones to improve public safety, agriculture and other uses will only increase," said Cindy Hyde-Smith, United States Senator. The induction of drones into warfare has \ increased gradually over the years. The first drone in the world was an unmanned balloon made in 1849 in the war between Austria and Venice. The recent wars between Azerbaijan-Armenia and Russia-Ukraine were a witness to the fact that drones are being heavily used in wars.
INDIAN SCENARIO
This story is from the July 2022 edition of Entrepreneur magazine.
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This story is from the July 2022 edition of Entrepreneur magazine.
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