RattanIndia Enterprises' arm NeoSky India plans to introduce consumer micro drones across India

10 Mar 2022 , 02:03 PM

RattanIndia Enterprises (REL), has announced its plans to develop and launch consumer micro drones across India, through its 100% subsidiary NeoSky India Ltd.

NeoSky is working on a well defined strategy and is aiming to be the first Indian company to achieve this milestone. These drones will be widely used, at weddings, in sports coverage, broadcasting, amateur travel vlogs, surveillance and warehouse management.

Indigenously developed consumer micro drones, are largely expected to be better than the current options available in international markets. Integrating NextGen technologies & smart innovations these micro drones will be enabled with autonomous flight management capability and some industry first features.

On Thursday, at around 1:59 PM, RattanIndia Enterprises was trading at Rs44.80 apiece higher by 2.4% on Sensex.

In August ’21, Rattanindia Group had made a strategic investment in Silicon Valley, U.S.- based, on-demand drone delivery company “Matternet”, thereby marking its entry into the drone industry, in the process enhancing its experience profile. Matternet presently has operations in the U.S., Germany, Switzerland, Japan and Abu Dhabi and has completed more than 30,000 delivery-flights successfully.

With Govt. banning the drone import in all forms, i.e, CBU, SKD & CKD, there will be tremendous opportunities for Indian companies, especially in consumer micro drones and will lead to indigenous core manufacturing facilities, formation of component eco system, & research and product development capabilities.

The gap in demand and supply created by the ban on drone import is huge, especially in consumer segment micro drones, and the replacement market opportunity in this segment alone is huge, with projected annual CAGR growth of 16-18% of new demand which is expected to grow further in years to come.

The existing non-compliant uncertified drone base in consumer micro category offers a sweet spot due to mandatory switch over to compliant & type certified drones in the future and is an available addressable market. NeoSky is targeting to have leadership market share in consumer market of micro drones in India.

NeoSky is working aggressively and smartly to gain the momentum in this segment and will deliver the maximum value to our customers. The company will set benchmark in the industry in terms of technology, features, innovation and products and become the leading player in the drone industry with presence in all use case segments.