India’s Aerospace & Defence sector is undergoing rapid expansion, with the market valued at USD 28.68 billion in 2024 and projected to grow at a CAGR of 7.1% through 2034. In 2025, the sector saw investments of ₹2,915 crore across 48 deals, outpacing other defence sub-sectors. Government initiatives like ‘Make in India’ and increased defence budgets are fuelling this transformation, positioning India as a global industry leader.

Paras Defence and Space Technologies Limited has entered into a strategic joint venture with Israel’s HevenDrones to establish a new entity in India focused on the design, manufacture, and supply of next-generation drone systems. This collaboration specifically targets India’s defence and homeland security sectors, with a long-term vision to expand into global markets.

The joint venture (JV) leverages Paras Defence’s robust engineering and manufacturing infrastructure alongside HevenDrones’ proprietary hydrogen-powered drone platforms. This partnership marks the first introduction of hydrogen-powered drone technology in India, positioning the JV at the forefront of advanced unmanned aerial vehicle (UAV) solutions in the country.

The hydrogen-powered drones developed through this JV will offer significantly extended flight endurance—up to 12 hours—and modular payload capabilities, making them suitable for a wide range of applications including logistics for remote and border regions, tactical surveillance, defence supply chains, and high-altitude operations.

HevenDrones will contribute intellectual property, production documentation, and operational prototypes, while Paras Defence will manage local manufacturing, sales, regulatory compliance, and operational execution. The technology transfer also includes comprehensive training programmes, ensuring the effective assimilation of advanced UAV technologies within India’s industrial ecosystem. Governance of the JV will be overseen by a board with representatives from both companies, who will jointly appoint key leadership positions including CEO, CFO, and COO.

This initiative directly supports the Indian government’s ‘Atmanirbhar Bharat’ (self-reliant India) mission by fostering indigenous development and production of high-end defence technologies. The JV’s ready-to-fly, combat-tested drones are expected to provide a strategic edge to India’s defence forces and supply chains, while also enabling Paras Defence to deliver world-class, Made-in-India drone systems to both domestic and international markets.

Paras Defence, already a key supplier to major Indian government agencies such as DRDO, ISRO, HAL, Bharat Electronics, BrahMos, and the Department of Atomic Energy, further cements its position as a critical player in India’s defence and space technology landscape through this partnership. The JV is anticipated to set new benchmarks in UAV performance, endurance, and versatility, and represents a significant milestone in the evolution of India’s indigenous defence manufacturing capabilities.

Agencies