Garuda Aerospace, the Chennai-based drone startup, is soaring to new heights with its recent expansion into Sri Lanka. This marks the first step in the company’s ambitious Global Garuda initiative, which aims to establish a presence in 50 countries worldwide. Founder and CEO Agnishwar Jayaprakash revealed that Sri Lanka was chosen as the launchpad for this global expansion due to its emerging drone policies and the new government’s enthusiasm for leveraging technology in agriculture and other industries to reduce reliance on tourism.
Strategic Expansion and Market Opportunity
Garuda Aerospace has swiftly established operations in Sri Lanka, complete with a local team, office, and an onboarded local partner to manage on-ground activities. The company plans to begin deploying its first drones in the region soon. According to Jayaprakash, Sri Lanka’s proximity to India and its developing regulatory framework make it an ideal starting point for the company’s international ambitions. “Sri Lanka, with its growing drone regulations and smaller market, is the perfect launchpad before venturing into larger regions,” said Jayaprakash.
Diversifying Applications Beyond Agriculture
While Garuda Aerospace is traditionally known for its precision agricultural drones, the company is broadening its scope in Sri Lanka to include homeland security, defense, and industrial applications. With significant infrastructure projects such as ports, airports, and roads underway in Sri Lanka, the need for surveillance drones for structural damage assessment and project monitoring is critical. Jayaprakash highlighted the cost-effectiveness of using drones for these purposes, making developing countries like Sri Lanka a prime target for expansion.
Leveraging Regulatory Insights
Sri Lanka’s regulatory landscape is approximately three to four years behind India, offering Garuda Aerospace an opportunity to apply its learnings from the Indian market. This regulatory gap allows the company to introduce its technology and expertise in a market that is still in the early stages of drone adoption. Jayaprakash sees this as a significant advantage, enabling Garuda Aerospace to establish a strong foothold in the region.
Global Expansion Plans and U.S. Market Entry
Garuda Aerospace’s ambitions don’t stop at Sri Lanka. The company has also set its sights on the United States, with close to $10 million allocated for its global expansion. The company has already opened an office in the U.S. and is in the process of obtaining Federal Aviation Administration (FAA) licenses for its drones. Jayaprakash is optimistic about the prospects in developed markets like the U.S. and Europe, believing that the revenue potential in these regions could eventually surpass that of India. “From a geopolitical perspective, the world is increasingly looking for drones made in India, and we’re positioned to meet that demand,” he noted.
Manufacturing and Cost Optimization
As Garuda Aerospace expands its operations internationally, the company is also exploring opportunities to manufacture and assemble critical components locally in the countries it enters. This strategy is aimed at reducing costs and increasing operational efficiency. In India, the company collaborates with contract manufacturers such as Hindustan Aeronautics Limited (HAL) and Bharat Earth Movers Limited (BEML) for drone production. However, in new markets like Sri Lanka, Garuda Aerospace may initially adopt a hybrid model, handling some of the manufacturing in-house until suitable local partners are identified. “We are exploring partnerships with contract manufacturers in these new markets, similar to our arrangements in India,” Jayaprakash explained.
Final Thoughts
The entry of Garuda Aerospace into Sri Lanka marks a critical turning point in the company’s development as a drone technology leader in the world. With its deliberate entry into areas with emerging drone legislation and its Indian experience, the firm is well-positioned to profit from the expanding drone demand across several industries. With intentions to continue growing into the United States and other areas, Garuda Aerospace is expected to have a significant influence on how drone technology develops worldwide.
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