India is projected to spend $25 to 30 billion on drones over the next decade, part of a global market expected to reach $75 billion by 2029.

That’s according to an assessment from Kotak Institutional Equities, which pegs the current global market at around $30 billion.

Right now, India’s armed forces spend roughly $250 to 300 million a year on drones. That number looks set to climb fast.

The Army, Navy, Air Force, border forces and state police already use drones for surveillance, logistics and countering hostile drones along the country’s long land border and coastline.

One deal already in motion is a planned $3.5 billion purchase of 31 MQ-9B Predator drones from the US.

Recent conflicts have changed how militaries think about cost. In Ukraine, more than 100 drones costing under $500,000 combined reportedly caused around $7 billion in damage to Russian airbases.

Closer to home, the India-Pakistan clashes last year, plus recent strikes involving Iran, pushed Indian defence planners to move faster on cheap, effective drone technology.

India is also trying to build its own drone industry rather than just buy from abroad. Kotak flags Solar Industries, Bharat Electronics and Adani Defence as likely winners.

Solar Industries’ Nagastra-1 loitering munition, already used in combat, has drawn export interest from Africa and Southeast Asia.

Bharat Electronics, working with DRDO, is developing the Archer drone as a cheaper alternative to Turkey’s widely exported Bayraktar TB2.

Separately, India is preparing a $2 billion procurement of domestically made drones, with deliveries expected within 18 to 24 months, according to industry body Drone Federation India.

Global exports remain dominated by Turkey, China and the US for now, but Indian officials are betting that homegrown platforms can start closing that gap.

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