Top 10 drone companies in India listed in Stock market
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The government of India with its “Atmanirbhar Bharat Abhiyan” aims to make India the drone hub of the world. There is an opportunity for Indian companies with strong potential domestic and export markets. India wants to be a US$5 trillion economy by 2030 and the drone industry can contribute significantly.
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Drone stocks in India
The global drone market is estimated to reach $54 billion by 2025. The Indian drone market is estimated to reach $4.2 billion by 2025 and has the potential to reach $23 billion by 2030, as per the EY-FICCI report ‘Making India the drone hub of the world.’ This includes the drone and its components industry.
According to the EY-FICCI report, India’s drone industry is expected to grow at a CAGR of 80% from ₹2,900 crore in 2020, to ₹81,600 crore in 2025. Further, the drone industry of India is estimated to grow at a CAGR of 35% from 2025 to 2030 to reach ₹2.95 lakh crore by 2030!
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Drone Stocks and Government Plans
The government of India has been coming up with different policies to encourage this industry. The Ministry has launched a PLI plan for drones and their components. This scheme provides financial assistance to start-ups and small-scale enterprises under the “Make in India” umbrella.
The Indian government also launched the Drone Shakti scheme to promote Drone-as-a-Service (DAAS). The Svamitva Scheme of the Ministry of Panchayati Raj was launched to encourage the usage of drones in land surveys and GIS mapping.
To encourage local drone manufacturing, the Indian government has banned the import of drones into the country. Given the broad applications and potential benefits of drone technology across multiple industries, the manufacturers of drones and their components can get a huge market domestically. Since India produces cheaper drones and Chinese drones are banned in many countries, there is huge potential for Indian drones in the export market.
Let us discuss the Top 10 drone companies in India listed in Stock market.
Top 10 drone companies in India Listed in Stock Market
| Best drone stocks to invest in | Current Price | P/E | ROCE (%) | ROE (%) |
|---|---|---|---|---|
| DCM Shriram Industries | 221.11 | 15.9 | 16.41 | 15.07 |
| Hindustan Aeronautics | 4,800 | 42.13 | 30.51 | 27.18 |
| Zen Technologies | 1,381 | 90.77 | 24.51 | 16.83 |
| RattanIndia Enterprises | 74 | 24.02 | -20.70 | -51.62 |
| Bharat Forge | 1,579.20 | 77.3 | 13.75 | 13.13 |
| Paras Defence and Space Technologies | 1,306.00 | 158.9 | 14.49 | 10.16 |
| Info Edge India | 6,922.90 | 153.20 | 1.04 | -0.46 |
| Ideaforge Technology | 826.40 | 61.8 | 12.27 | 9.58 |
| Dronacharya Aerial Innovations | 142.05 | 55.4 | 11.52 | 8.51 |
| Optiemus Infracom | 382 | 57.87 | 14.55 | 11.75 |
Top Drone Stocks in India
Ideaforge Technology Ltd.
ideaForge is a vertically integrated drone companies in India listed in Stock market. The company engaged in UAV product development starting from designing, developing, engineering, and manufacturing indigenous unmanned aerial vehicles (UAVs).
Recently, ideaForge partnered with SkyLark Labs, a U.S.-based Artificial Intelligence (AI) solutions company, to provide drones that autonomously detect and identify suspicious weapons, persons, vehicles, fires, and smoke in real-time. In July 2024, ideaForge partnered with Inertial Labs, a global leader in innovative inertial sensors and integrated GPS systems, for the integration of Inertial Labs’ RESEPI LiDAR solution into ideaForge’s high-performance unmanned aerial vehicles (UAVs).
The company is also foraying into the logistic and security segment by developing UAVs that can carry a payload of up to 100 kg over a distance of 100 km. The company is also planning to sell its drones in the US market.
The company has registered net sales at Rs 102.30 crore in March 2024 up 164.59% from Rs. 38.66 crore in March 2023. The quarterly net profit was reported at Rs. 10.33 crore in March 2024 up 290.59% from Rs. 5.42 crore in March 2023 while EPS has increased to Rs. 2.40 in March 2024 from Rs. 1.45 in March 2023.
This is a strong drone stocks to invest in for the long term.
Paras Defence & Space Technologies
Paras Defence & Space Technologies is one of the major players Defence and Space landscape in India. Paras Aerospace, the subsidiary of Paras Defence, is engaged in manufacturing, managing, and offering Drones and drone Services. Paras defence is one of the major drone companies in India listed in Stock market
Paras Defence manufactures drones for sectors such as Military/Tactical, Industrial, and Agriculture Drones. The company also manufactures crash-proof drones. The company claims that this type of drone will return to the base if the user is an amateur. These drones will be equipped with drone bags, that will work like an airbag to protect the drone in case of a crash landing.
Paras Defence is one of the major players in the defence drone segment. The Indian military UAV market is expected to grow at a CAGR of 7.6 per cent from 2023 to 2033. India is expected to spend $16.8 billion cumulatively between 2023 and 2033 on acquiring various categories of military UAVs during this decade, companies in this segment are expected to witness multiple growth prospects in the next decade.
This is a top drone stocks in India to invest in for the long term.
Zen Technologies Limited – a top drone stocks in India
With the increased use of drones across industries, the risk of misuse of drones has also increased. Hence the demand for anti-drone systems has been increasing. To meet the demand for anti drone jamming systems, companies in India are aggressively expanding their operation worldwide.
Zen Technologies is one of the best drone companies in India listed in Stock market that manufacturers anti drone systems India. Zen Technologies Anti Drone System helps in drone detection, classification and tracking on passive surveillance, camera sensors and neutralization of the threat through jamming the drone communication.
Zen Anti Drone System (CUAS)/Counter Unmanned Aerial System helps in providing comprehensive security against drone attacks.
Apart from manufacturing anti drone systems, Zen Technologies is one of the major players in defence industry in India. Recently, the company launched four new defence-related products such as – Hawkeye, Barbarik-URCWS (Ultralight Remote Control Weapon Station), Prahasta, and Sthir Stab 640.
These products cater to a wide range of Defence requirements, empowering the Forces with tactical superiority and improved operational efficiency. Importantly, Hawkeye is an anti-drone system camera, all-weather drone tracking system.
The company reported all time high of net sales in Q3-2024 with reported net sales of INR 141 crore in Q3 2024. Zen Technologies reported an annual net sales of INR 440 crore in FY 2024 with a strong profit after tax of INR 130 crore for the same period.
This is one of the best drone stocks to invest in for the long term.
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