Military drones, also known as Unmanned Aerial Vehicles (UAVs), are aircraft operated without a human pilot on board. They are remotely controlled or fly autonomously through pre-programmed flight plans. These drones are used for various military applications, including surveillance, reconnaissance, target acquisition, and even combat missions.
India is increasingly becoming a key player in the global drone sector. Fueled by rising demand for drone technology and a strong emphasis on self-sufficiency, India is striving to solidify its position as a top manufacturer and exporter of drones on the international stage.
According to a report published by Research and Markets, they forecast that the Indian drone market will achieve a value of Rs 121 crores by 2025, with an expected compound annual growth rate (CAGR) of 18.2 percent over the forecast period.
Here are a few listed companies from India that supply military drones to the defence world:
Solar Industries India Limited
Incorporated in 1995, Solar Industries India Limited is an India-based integrated global explosives company and defense products company. The company’s products include military drones, industrial explosives, and defense.
With a market capitalization of Rs 1,08,452 crores, the shares of Solar Industries closed at Rs 11,985.00 per share on Friday’s trading session, down by 2.10 percent.
Solar Industries has supplied the Indian Army with the initial set of the military drone named Nagastra-1 Loitering Munitions. These drone-based weapons can hover, execute precise strikes, and safely return after missions. This marks a notable enhancement in India’s defense capabilities.
In 2023, Solar Industries received an order to supply over 400 military drones worth up to Rs 300 crores to the Indian Army.
The shares of this company have generated a multi-bagger return of 224 percent over the past year and 79.32 percent over the past month.
Zen Technologies Limited
Zen Technologies Limited is an Indian-based company that designs, develops, and manufactures defense training systems, based on sensors and simulator technology. Zen technology’s category of products includes land-based military training simulators, driving simulators, live range equipment, and anti-drone systems.
With a market capitalization of Rs 10,913 crores, the shares of Zen Technology closed at Rs 1,298 per share on Friday’s trading session, down by 1.61 percent.
Zen Technologies has recently completed an order to deliver a few of its advanced Zen Anti-Drone Systems with Hard-Kill (Zen ADS HK) to the Army Air Defence College located in Gopalpur, Odisha.
As of FY24, Zen Technologies has generated Rs 100 crores of revenues from its anti-drone systems (ADS) business.
The shares of this company have generated a multi-bagger return of 245.25 percent over the past year and 86.40 percent over the past month.
Droneacharya Aerial Innovations Limited
With a market capitalization of Rs 346.64 crores, the shares of this company closed at Rs 144.50 per share on Friday’s trading session, down by 0.79 percent.
DroneAcharya Aerial Innovations primarily sells first-person view (FPV) drones and provides drone pilot training services to the Indian defense forces, focusing on applications like surveillance, disaster management, and tactical missions.
The firm has secured a contract from the Indian Army to provide advanced drone training at the Mechanised Army Courses Group in Ahmednagar. This includes capacity building and training on the latest drone technologies for defense personnel.
DroneAcharya reported a 90 percent year-over-year increase in operating revenue, which grew to Rs 35.19 crores in FY2024 from Rs 18.56 crores in FY2023.
The shares of Drone Acharya have generated both negative returns of 9.25 percent over the past year and 22.67 percent over the past month.
Ideaforge Technology Limited
Incorporated in 2007, IdeaForge Technology Limited is engaged in the business of manufacturing Unmanned Aircraft Systems (UAS).
With a market capitalization of Rs 3,555.58 crores, the shares of this company closed at Rs 829 per share on Friday’s trading session, down by 0.65 percent.
In the financial year 2023-24, IdeaForge reported total operating revenues of Rs 317 crores, marking a 70 percent year-over-year increase from the Rs 186 crores reported in the previous fiscal year, 2022-23.
IdeaForge offers various military drones to the defense sector. These include fixed-wing drones for gathering information and surveillance, quadcopter drones for tactical missions, area security, and battlefield management, and versatile VTOL (Vertical Take-Off and Landing) drones that can be used in many different situations.
IdeaForge Technology Limited has recently secured orders worth approximately Rs 88.06 crores to supply surveillance quadcopters and accessories to one of the forces under the Ministry of Defence, Government of India.
Written by Zahal
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