Update Hawking Defense Services Pvt Ltd By Yes Securities
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Exciting player on the horizon
We hosted Dr Rajeev Koundinya, CEO of Hawking Defense Services Pvt Ltd (HDS). HDS is a specialized player in providing unmanned technological solutions to defence sector both in India and abroad. It has a wide range of customized products such as anti?drone solutions, long endurable RPA, drone swarms, amphibious aircraft, TBI mobile scanner in aerial, terrestrial and marine sectors. The company has recently signed a MoU with Australian UAV technologies for defence R&D thereby enabling cost effective solutions and services to the defence sector.
The company has a strong in?house design team for product designing and analysis using advanced software for stockpile assessment, volumetric analysis, and topography survey. It is experienced in fixed?wing mapping and GIS application and Aquatic Remote Sensing, which is headed by experienced professionals with over 14 years of operations in government projects.
Key Highlights:
* The company is very bullish on the future of the emerging drone ecosystem in India and expects to capitalize on the emerging market. Management believes that the Indian drone market is 10 to 15 years behind countries like USA, UK, Germany, Australia, Israel, etc.
* As a part of its strategy, it would focus on defence applications as it believes civilian applications will get saturated in due course of time.
* The international market has good opportunities in both defence (where US/European companies are strong) and non?defence (dominated by Chinese players). Management indicated emerging geographies like Nepal, Bangladesh, ASEAN, Africa, etc. are 10 years behind India and which provides a good opportunity for Indian companies to tap.
* The company is of the belief that India is taking baby steps towards adoption of drones and that the government has brought in well?thought out policies to enable the same
* Though its largest competitor is HAL, the company believes it has an edge over HAL owing to its technological capabilities, access to global companies, low cost of operation and higher endurance of products
* Among its product portfolio, the company has a fixed wing aircraft which weighs 7kg and has 18hrs of endurance which is primarily used for intelligence, surveillance and reconnaissance activities. It has a tie?up with an Australian company for the engine which alone accounts for ~27?28% of the total cost of the aircraft
* The product pipeline is quite promising as the company has developed prototypes like drone detector and jammer, GPS Spoofer, drone flare, etc.
* Its current and upcoming products have evinced interest from government bodies like MoD, Coast Guard, National Disaster Management Authority, Sports Authority of India, etc. It has garnered orders of ~1,200 units of anti?drone detector and jammer from MoD and the company intends to bag orders from the army's various regional commands (Northern, Western, Southern, etc.) that have an Emergency Procurement Fund which doesn't operate on bidding/tendering basis.
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