Adani Defense & Aerospace to acquire 50 percent stake in drone startup General Aeronautics
New Delhi:
Adani Defense & Aerospace has entered into definitive agreements to acquire a 50 percent equity stake in agricultural drone startup General Aeronautics for an undisclosed amount.
Based in Bengaluru, General Aeronautics specializes in developing robotic drones to provide technical crop protection services, crop health monitoring, precision farming and yield monitoring services using artificial intelligence and data analytics.
“The partnership between General Aeronautics and Adani Defense & Aerospace combines our military and civilian objectives by integrating Adani Group’s military UAV capabilities with General Aeronautics capabilities, providing a platform with far-reaching capabilities,” said Ashish Rajvanshi, CEO of Adani Defense & Aerospace, said in a statement.
The drone and drone services market in India is expected to grow rapidly, reaching Rs 30,000 crore by 2026, driven by the evolving policy framework, PLI incentives and the recent ban on drone imports.
“I am delighted that Adani Defense & Aerospace is working with us to lead us into the next era of growth in this rapidly evolving space. I look forward to our partnership to unlock substantial scale, leveraging their vision and commitment to the unmanned capabilities that will help India become the drone hub of the world,” said Abhishek Burman, CEO of General Aeronautics.
