Heres why RattanIndia Enterprises should be on your watchlist today!
The gap in demand and supply created by the ban on drone import is huge
RattanIndia Enterprises (REL), a progressive company that has taken a lead in building businesses in new-age sectors including electric motorcycles, drone (UAV), e-commerce, and fintech, announced its plans to develop & launch consumer micro drones across India, through its hundred per cent 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 the international markets. Integrating NextGen technologies & smart innovations, these micro-drones will be enabled with autonomous flight management capability and some industry-first features.
In August 2021, RattanIndia Group had made a strategic investment in Silicon Valley, a US-based on-demand drone delivery company, ‘Matternet’ thereby, marking its entry into the drone industry, in the process enhancing its experience profile. Matternet, which presently operates in the US, Germany, Switzerland, Japan, Abu Dhabi, has also completed more than 30,000 delivery flights successfully.
With government 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, which would lead to indigenous core manufacturing facilities, formation of the component ecosystems, research, and product development capabilities.
The gap in demand and supply created by the ban on drone import is huge, especially in the consumer segment of micro drones. Besides, the replacement market opportunity in this segment alone is huge with a projected annual CAGR growth of 16-18 per cent of new demand, which is expected to grow further in the years to come. The existing non-compliant uncertified drone base in the consumer micro category offers a sweet spot due to mandatory switch over to compliant as well as type certified drones in the future and is an available addressable market. NeoSky is targeting to have a leading market share in the consumer market of micro-drones in India.
NeoSky is working aggressively and smartly to gain momentum in this segment and will deliver the maximum value to our customers. The company will set benchmarks in the industry in terms of technology, features, innovation & products and become the leading player in the drone industry with a presence in all use case segments.