Garuda Aerospace CEO Agnishwar Jayaprakash met the Chief Minister Shri Chandrababu Naidu to accelerate the development of the Andhra Pradesh Drone City in Kurnool. Garuda Aerospace reaffirmed its INR 100 crore investment, focusing on strategic land allocation near ports and airports to attract global aerospace companies and boost exports. The state government’s support will be crucial in streamlining approvals, building robust infrastructure, and providing essential amenities. This initiative aims to establish Andhra Pradesh as a leading global drone innovation hub.
The Andhra Pradesh Drone City is poised to become a world-class center for drone technology, with the potential to generate approximately 20,000 jobs while training 25,000 drone pilots. This initiative will contribute to the development of a highly skilled workforce, essential for the future of the aerospace sector. India’s commercial and consumer drone market is projected to grow 2.5 times, reaching INR 60 billion by 2030. The Drone City will establish a comprehensive ecosystem encompassing drone manufacturing, a research and development center, a drone pilot training academy, India’s Drone Industry maintenance and repair facilities, and an incubation hub for UAV startups. The Minister of Civil Aviation, Shri Rama Mohan Naidu Ji, also discussed the ‘Viksit Bharat Sankalp Yatra’ and its significance in national development, along with the company’s ongoing contributions to the ‘Namo Drone Didi’ initiative, which empowers rural women through drone technology.
The project is expected to foster the establishment of over 500 drone-related companies and attract foreign investments worth approximately USD 5 billion. The potential economic impact includes significant export revenues, with India’s drone industry poised for expansion into more than 15 international markets by 2030. The demand for drones is rapidly increasing across industries, including agriculture—where India has 350 million acres of farmland—and industrial applications such as solar panel cleaning, thermal inspections, and large-scale mapping. Notably, over 3.3 lakh villages still require mapping under the Svamitva scheme.
Agnishwar Jayaprakash, Founder and CEO of Garuda Aerospace, stated, “The Andhra Pradesh Drone City is more than just an infrastructure project; it is a catalyst for innovation, job creation, and technological leadership. By fostering a dynamic ecosystem for drone research, manufacturing, and training, we aim to position India as a global powerhouse in drone technology. This initiative will not only accelerate economic growth but also empower entrepreneurs, attract global investments, and shape the future of the industry on a massive scale.”
With India’s drone market projected to reach INR 60 billion by 2030, the development of the Andhra Pradesh Drone City will not only accelerate Garuda Aerospace’s growth but also drive significant economic expansion and job creation at both state and national levels. Garuda Aerospace and the Andhra Pradesh government remain committed to collaborating on this groundbreaking initiative, reinforcing India’s position as a leader in drone technology and innovation. Garuda Aerospace’s revenue surged 2.3X to INR 110 crore in FY24, while net profit jumped 2.7X to INR 16 crore despite a 128% rise in expenses. The company earned INR 68 crore from surveillance services and INR 42 crore from drone sales. Backed by $31 million in funding, CEO Agnishwar Jayaprakash holds a 77% stake.
