Best Drone Stocks in India (2023)

Last Updated on Dec 12, 2023 by Harshit Singh

The rapid increase in technology is giving rise to several developments worldwide. And one such development is drone technology. Either for last-mile delivery or to gather information for disaster management, the drone industry has captured the attention of many investors. In this article, let’s look into the best drone stocks in India listed in the stock market, their usage and factors to check while investing in them.

Best drone stocks in India (2023)

Note: The drone company stocks listed here are as of 12th December 2023. These are sorted according to their 1Y return.

Relative strength index (RSI) – 14D measures the speed and change of price movement over a 14 trading day period to determine whether a stock is in an overbought or oversold range. RSI values range from 0 to 100. If the RSI is above 80, it is considered that a security is overbought zone or has run up too much and might fall soon. On the contrary if the RSI reading is below 20, it is considered that the security is oversold or has fallen too much and might see price reversal soon.

1. Zen Technologies

Founded in 1993, Zen Technologies is engaged in the design, development and manufacture of training simulators. It offers its products to police and paramilitary forces, armed forces, security forces and government departments. Apart from this, the company has developed different UAVs, like rotary-wing and fixed-wing drones and provides services like aerial mapping, surveillance and surveying. 

This drone stock recorded tremendous growth in the past year, as their market share increased from 0.25% to 0.72%. As a result, FIIs increased their shareholding in the company by 1.36%.

2. Droneacharya Aerial Innovations Ltd

Founded in 2017, Droneacharya Aerial Innovations Ltd is a small-cap company providing drone services, drone training and manufacturing. Up until now the company has trained over 300 drone pilots. The company has grown over 83.61% since last year.

3. Drone Destination Ltd

Drone Destination Limited is a small-cap company providing drone services, training, and sales, with multiple training bases and partnerships for various applications.

The company is showing good signs of profitability and scored 7.7/10 for profitability. Moreover, this small-cap drone stock recorded 66.41% growth in the past year, as a result the FIIs increased their holding in the company by 3.94%.

4. Paras Defence & Space Technologies

Paras Defence & Space Technologies was founded in 2009. It is into developing systems for defence and space applications. The company operates under five segments, Defense & Space Optics, Defense Electronics, Heavy Engineering, Electromagnetic Pulse Protection Solutions and Niche Technologies. Paras Defence & Space Technologies have entered the drone market for both commercial and military purposes. The company has developed different UAVs and provides services like aerial mapping, surveillance and surveying. 

Paras Defence & Space Technologies recorded 13.58% growth in the past year and saw their market share increased by 0.71%. In Q2 review, this small-cap drone stock net profit is up by 7% on Y-o-Y.

What are drone stocks?

Drones are also known as Unmanned Aerial Vehicles (UAVs); Drone stocks are nothing but publicly listed companies that manufacture drones and other related technologies. These aerial vehicles can either fly anonymously or be controlled remotely. Along with defence, drones are used in various industries like delivery service, agriculture, etc.

Usage of drones in India

Previously, drones were used only in the defence sector, but currently, it is used in several fields. And with the rapid rise in technology in every field, we can expect the usage of drones in more sectors. Here are a few uses of drones. 

  • Security: Drones are used for security and surveillance purposes. Like, for border surveillance, tracking any criminal activity, and keeping an eye on crowds at events.
  • Aerial videography and photography: The high-quality cameras equipped with drones can be used to capture pictures at events. 
  • Search operations: The thermal cameras in drones can also be used to locate missing persons or find dangers in the path ahead. 
  • Agriculture: They help survey the crops, spray fertilisers and pesticides over the fields. 
  • Delivery: Drones can be used in the delivery of packages to customers quickly and easily, especially in regions that are hard to reach. 
  • Wildlife tracking: It can be used to keep track of wildlife populations. 

Drone industry in India

The drone sector in India is still in the developing stage. The Government of India has given permission to use drones in other sectors like agriculture, healthcare, etc. In May 2022, while inaugurating the drone festival in New Delhi, Prime Minister Narendra Modi called drones a ‘game-changer’ in agriculture. He also acknowledged how during COVID-19, drones helped deliver vaccines to remote locations in the country. 

In December 2022, the Ministry of Civil Aviation (MoCA) issued guidelines for the Production-Linked Incentive (PLI) scheme, introduced in September 2021 for drone manufacturing and components companies. The MoCA allocated Rs. 120 cr. fund for companies manufacturing drones and drone components between FY 2023-2025.

Though only a few companies are looking into the drone sector, with the government’s support and demand, the industry is expected to grow and evolve in the next few years. 

Factors to check while investing in drone company stocks in India

Though the drone industry seems promising, there are certain things you, as an investor, need to check before investing in them. 

  • Regulations – Though the Government of India approved the usage of drones in a few sectors, you need to understand the associated regulations that can impact the industry. 
  • Market potential – Check the market size for this new sector to see if there is any growth potential. 
  • Competition – Given the popularity, several large companies and startups are investing in the drone business. Check out the competition. 
  • Financial health – While investing in stocks, it is not just the sector that you need to check but also the company. Review the company’s financial health with factors like profitability, revenue, debt, and cash flow. Use Tickertape Scorecard to analyse the company’s growth, performance, red flags, and more. 


Though drone industry stocks are gaining popularity now, you need to consider your investment objectives and risk appetite before investing. Do thorough research not just about the industry but also about the company. Happy Investing. 


How big is the drone industry in India?

By 2025, the global drone market is expected to touch USD 54 bn, and in India it is expected to be of USD 4.2 bn, and projected to reach USD 23 bn by 2030.

How to invest in drone stocks in India?

Once you have found the right drone stock to invest in, visit Tickertape and search for the company. You can get all the details about the company on Tickertape Asset Pages. Review the stock details, and you can complete the purchase on Tickertape itself. Use Tickertape Portfolio to find the performance of the stock quickly and easily.  

What are the drone stocks in NSE?

The drone sector stocks listed in NSE are as follows, 
– RattanIndia Enterprises
– Zen Technologies
– Paras Defence & Space Technologies
– DCM Shriram Industries
– Drone Destination Ltd
– Droneacharya Aerial Innovations Ltd
Note: The drone stocks in NSE listed here are as of 12th December 2023. These are sorted according to their market capitalisation

Anjali Chourasiya
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