AKSI Aerospace Group has announced it has received an order valued at INR 850 million from Latvia-based drone manufacturer FIXAR for the supply of drone subsystems. The company also plans to invest USD 5 million over the next two years to expand and upgrade its production facility in Hyderabad.
The Hyderabad plant, which spans 50,000 square feet, manufactures critical drone components including autopilots, lithium batteries, battery management systems, navigation units, and composite airframes.
The company expects a twofold increase in revenue from the facility to INR 700 million in the next fiscal, up from an estimated INR 350 million in the current fiscal year, according to Pankaj Akula, Managing Director of AKSI Aerospace Group.
AKSI Aerospace Group designs and manufactures drone subsystems in India and serves both domestic and international clients. Its Hyderabad facility is a central hub for the development and production of key technologies for unmanned aerial vehicles.