Top 5 Drone Companies in India

Created on 25 Apr 2022

Wraps up in 4 Min

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Updated on 03 May 2024

Top Drone Companies in India

Have you seen the movie 3 Idiots, where Rancho was mesmerized by a flying item and could even broadcast a live feed? Isn't it fascinating? But these aren't complex vehicles; they're merely common flying items that may be employed for a variety of things. Drones, or the flying objects you see in the sky, have a variety of applications ranging from military to delivery services. Drones are increasingly being used in a variety of industries, from surveillance to filming. Drones are now being utilized to enhance logistics and potentially save lives by delivering medical supplies.

Today we find out the top 5 companies indulging in drone manufacturing and supplies. It is a growing industry, so here are some stocks that you can invest in to sit in the wave of the rising drone industry.

Drone industry overview 

A drone, also known as Unmanned Aerial Vehicle or UAV is a flying machine that is operated remotely.

The popularity of drones has increased in recent years. Reportedly the global drone market that is dominated by USA, China and Israel is estimated to grow and reach $28.47 Billion.

Given below is the timeline of drones and drone-based applications👇


Source: PWC

Drones came into the limelight when in 2013, Amazon announced its experiment with them. 

In India, 5 major segments have seen the usage of drones, namely: 

  • Agriculture

  • Energy & Utility

  • Infrastructure

  • Mining

  • Media & Entertainment 

In these industries, drones are used to do crop supervision & maintenance, calculation of crop loss percentage, industrial inspection, 3D video mapping, Land audit, Town planning, thermal imaging, terrain mapping, aerial documentary, photography, cinematography, collecting crop yield data and more. 

To support the drone industry, the Indian government realized ‘Drone Rules’ in the year 2021 upgrading the existing drone norms. The new regulations made the market more flexible, granting drones a legal status and making its market more liberal. Some policy changes are as follows, licensing fees have been reduced irrespective of the drone size. Also there would be no pilot requirement for non-commercial micro & nano drones. The requirement of a unique authorisation number and prototype identification number has been abolished. Drone corridors have to be developed for cargo deliveries. The work of multinational companies has been made easy by facilitating ease of doing business for foreign-owned companies registered in India.

According to the Chief of the Drone Federation of India, Mr. Smit Shah, with the new drone policy, its market is expected to reach ₹50,000 crore in the coming 5 years. 

Top 5 drone companies in India

Paras Defense & Space Technologies

The company has 40+ years of experience in the area of defence and space engineering, Paras Defence & Space Technologies offers a range of products and services for Defence & Space optics. They are actively involved in technologies for Rocket & Missiles, Space and research, and more. 

To work on drone technologies, the company has partnered with various multinational corporations. The company was recently listed on the stock market. 

DCM Shriram Ltd.

DCM Shriram ltd. has recently bought a 30% stake in a Turkish drone-making company, Zyrone Dynamics with the intention of creating a worldwide UAV company for various applications in military & civilian fields. Zyrone Dynamics manufactures small rotary-wing drones.  

All this could happen because DCM Shriram Industries Ltd. was granted the industrial license to manufacture Unmanned Aerial Vehicles (UAV).

Hindustan Aeronautics Ltd.

HAL ltd. was incorporated in India and is a government company with the President of India holding an 89.97% stake in the company. The company is engaged in the design, development, manufacturing, repair and more of a wide range of products that comprises aircraft, helicopters, aero-engines and more. 

The company will produce the first 5 Tapas drones in India. Last year they received a request proposal from the Indian Air Force to supply 70 basic trainer HTT40 aircraft. 

Zen Technologies 

Zen Technologies was incorporated in 1993. The company is the pioneer in the manufacture of state-of-the-art training simulators. With a growth of 100% in the last 3 years, the company is actively involved in drone solution technologies such as Heavy lift logistics drones that offer reliable logistics support. Also, the “Anti Drone System from Zen Technologies works on drone detection, Classification and tracking on passive surveillance, camera sensors and neutralization of the threat through jamming the Drone communication.” says the company website.

RattanIndia Enterprises

RattanIndia Enterprises took a step into the drone business with its wholly-owned subsidiary NeoSky with the expectation of a commercial rollout of the product in 2023. 

RattanIndia Enterprises was incorporated in the year 2010. The company is virtually debt-free and has a high promoter holding of 74.80 on the flip side, the company has a poor ROE and ROCE.

The Bottom Line

There is no doubt that the drone market is the fastest-growing market in the world. The UAV market already has tremendous growth prospects. The companies which we discussed today are the listed ones but there are various bidding startups too working exponentially in this space. 

This was all about the drone industry and drone stocks but  there are a number of industries and stocks for you to explore. We at Finology have eased your stock search and analysis process with the help of Ticker by Finology

Also, is there any topic you want a blog on, or do you have any queries related to this blog? If so, then write to us at .We love it when you communicate with us. Do write in the comment section if you liked the blog... :) Until then, Happy Investing.

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Ayushi Upadhyay

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A Keen Learner. Tiny, brainy, and studious, this quiet one stays in her zone until she pops. And once she does, boy, are her comebacks snappy! There is no financial question that she can't answer through her magical blog-writing. 

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