DroneAcharya, a Pune-based drone manufacturer, is set to expand into the US and European markets, targeting $50 million in revenue over the next three years.

This initiative follows a memorandum of understanding (MoU) with California-based American Blast Systems (ABS), aimed at co-producing and branding drones under the 'Made in America' label. The collaboration will enable local production across various sectors including defence, agriculture, and logistics.

The partnership will provide a range of drone solutions encompassing hardware, software, and services tailored for sectors such as defence and law enforcement.

The drones are expected to feature advanced technologies for enhanced performance in areas like border security and surveillance.

DroneAcharya plans to cross-sell ABS products in the Asian market, leveraging its established presence while expanding its footprint globally.

Prateek Srivastava, founder and managing director of DroneAcharya, emphasized the potential of this collaboration to position India as a leader in the global drone industry. The announcement has positively impacted DroneAcharya's stock, reflecting investor confidence in the company's growth prospects.

In the first half of FY24, DroneAcharya reported a profit after tax of ₹3.97 crore, marking a significant increase in profitability. The company has experienced substantial growth, with its operating revenue soaring 417% year-over-year to ₹18.57 crore in FY23. This financial success underlines the potential for further growth as they enter new markets.

Agencies