Mumbai, Aug 1 (PTI) AKSI Aerospace Group on Friday announced that it has bagged an order for the supply of drone subsystems worth Rs 85 crore from global drone manufacturer FIXAR.
The company also announced an investment of USD 5 million (around Rs 44 crore) in the next two years to expand and upgrade its facility in Hyderabad.
At its 50,000 sq. ft. facility in Hyderabad, the company designs and produces essential drone subsystems, including autopilots, lithium batteries, battery management systems (BMS), navigation units and composite airframes.
“The facility has bagged an order of Rs 85 crore from global drone manufacturer, FIXAR,” AKSI Aerospace, which showcased its drone development capabilities at the 6th International Drone Expo in New Delhi, said in a statement.
Pankaj Akula, Managing Director of AKSI Aerospace Group, said that the company expects a twofold increase in revenue from the facility to Rs 70 crore in the next fiscal from expected Rs 35 crore in the current fiscal year.
Akula claimed that AKSI Aerospace received recognition for its role post Operation Sindoor, where its indigenously manufactured drone components were deployed by the Indian armed forces. PTI IAS BAL
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