Paras Aerospace Pvt Ltd, a subsidiary of aerospace and defense company Paras Defense and Space Technologies, has received approval from the Directorate General of Civil Aviation (DGCA) to sell agricultural drones.
Economy Business
Paras Aerospace Pvt. Ltd, a subsidiary of aerospace and defense company Paras Defense and Space Technologies, has received approval from the Directorate General of Civil Aviation (DGCA) to sell agricultural drones. Speaking to CNBC Awaaz, the company said that with this approval, it will be able to honor the existing contracts for "Paras - Agricopter V2.1". According to the company, the approval opens up new possibilities in the agri-drone industry. Paras Aerospace believes that this is one of the biggest milestones in the agri-drone sector. Paras Defense holds 60% stake in Paras Aerospace. The global drone market, which is currently valued at over $45 billion, is expected to grow at a compound annual growth rate (CAGR) of 13% through 2030, the Market Research Future report said. And India has big plans to be part of this growth. The country wants to establish a $1.8 billion drone industry by 2026.
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