Adani Enterprises Ltd and Israel's Elbit Systems India Ltd have formed a joint venture company, Adani-Elbit Advanced Systems India Ltd (AEASIL), to manufacture unmanned aerial vehicles in India. While Adani group will own 51 percent stake in the JV, Israeli firm will hold the remaining stake.
The formation of the JV follows the statement of intent signed by Adani Aero Defence Systems & Technologies Ltd, a wholly-owned subsidiary of Adani Enterprises, with Elbit-ISTAR and Alpha Design Technologies in March this year to work together in the field of unmanned aircraft systems (UAS) in India.
Unmanned aircraft systems are considered to be the next frontier of technology providing multi-functional capability especially that of see and hear to provide information advantage to the fighters and net security providers.
Elbit Systems Ltd is an international high technology company engaged in a wide range of defence, homeland security and commercial programmes throughout the world. The Israel-based company, which includes Elbit Systems and its subsidiaries, operates in the area of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and unmanned aircraft systems.