DroneAcharya Aerial Innovations Ltd., a leading Indian drone technology company, has announced a strategic partnership with US-based American Blast Systems (ABS) Inc. to expand its reach into the American, UK, and European markets.
This collaboration aims to boost the manufacturing and distribution of "Made in America" drones across various sectors, including defence, law enforcement, agriculture, and logistics.
Under the agreement, DroneAcharya and ABS will jointly design and develop drones in Los Angeles, California. These drones will be tailored for specific applications such as surveillance, security, and logistics, catering to the needs of these key markets.
Both companies will leverage their respective strengths – DroneAcharya's drone technology expertise and ABS's understanding of the US and European markets – to drive innovation and deliver cutting-edge solutions.
"This partnership marks a significant milestone for DroneAcharya, opening up vast overseas markets for our drone hardware and services," said Prateek Srivastava, founder and managing director of DroneAcharya.
Srivastava told Economic Times that the company is aiming for $50 million in revenue over the next three years through this partnership. "We see tremendous potential in this collaboration as it positions India at the forefront of the global drone industry," he stated.
The drones will be equipped with advanced capabilities for superior performance in border security, surveillance, counterinsurgency, and logistics. Emphasizing data security, Srivastava added, "Our goal is to deliver cutting-edge, India-made drone technology that ensures secure data transmission and complete data privacy."
Donald Culver, chairman of ABS, expressed confidence in the partnership, stating, "India has long been a trusted partner for high-quality services. With DroneAcharya, we see the potential to leverage drone technology across defence, law enforcement and industrial sectors."
This move comes at a time when the global drone market is experiencing rapid growth. According to market research, the US commercial drone market is projected to reach USD 14.11 billion by 2033, growing at a compound annual growth rate (CAGR) of 9.2 percent.
The Public Safety Drone Market is also expected to see significant growth, projected to reach USD 2.0 billion by 2028, with a CAGR of 13.0 percent. This presents a significant opportunity for DroneAcharya and ABS to capture a sizeable portion of this expanding market.
In addition to joint development and manufacturing, the agreement includes provisions for DroneAcharya to cross-sell ABS products in the Asian market, further expanding its global footprint. This strategic partnership signifies a major step forward for the Indian drone industry, showcasing its capabilities on the international stage.
