Paras Defence and Space Technologies Ltd., a leading Indian defence engineering company known for its advanced optics and defence solutions, has entered a strategic joint venture with Israel’s HevenDrones—a subsidiary of US-based Heven and a pioneer in autonomous, hydrogen-powered drone technology.
The newly formed joint venture will create an Indian entity focused on designing, manufacturing, and supplying next-generation drone systems specifically for India’s defence and homeland security needs. Long-term plans also include targeting global markets.
By combining Paras Defence’s robust engineering and manufacturing capabilities with HevenDrones’ proprietary technology, the JV aims to introduce hydrogen-powered drones in India for the first time. These drones, known for their extended flight endurance and modular payload options, will be fully developed, produced, and deployed domestically. The venture will prioritize applications such as logistics in remote and border areas, tactical surveillance, defence supply chains, and high-altitude missions.
“India is a key market for scalable drone solutions, and HevenDrones’ combat-proven portfolio gives us a technological edge,” said Munjal Sharad Shah, Managing Director of Paras Defence. “This JV allows us to deliver world-class, Made-in-India drone systems for both domestic and international markets.”
As part of the collaboration, HevenDrones will transfer intellectual property, production manuals, and operational prototypes to the JV. Paras Defence will handle local manufacturing, compliance, and distribution. The partnership also includes training programs and a jointly governed board with appointed executives, including a CEO, CFO, and COO.
HevenDrones has built a strong global reputation for developing unmanned aerial systems (UAS) suited for logistics, tactical, and security missions. Paras Defence, meanwhile, has demonstrated strong financial growth, reporting nearly double net profit in FY25, a 35.8% revenue increase, and an expanded EBITDA margin of 26.2%. The company also recently announced a stock split and dividend payout, supported by a ?9 billion order book.
“This partnership represents a major milestone in our global expansion strategy,” said Bentzion Levinson, CEO of HevenDrones. “Paras Defence offers unmatched manufacturing expertise and deep integration within India’s defence ecosystem. Together, we’re advancing the Atmanirbhar Bharat mission while setting new global standards for UAV performance.”
The JV will manufacture HevenDrones’ full range of UAS solutions, with an emphasis on military-grade operations such as frontline logistics, surveillance, border security, and urban threat response. The sourcing model will integrate HevenDrones’ core technology with local production by Paras, ensuring compliance with India’s defence procurement policies and import regulations.
With validated systems already available, the JV is ready to demonstrate and deliver products immediately. The initial focus will be on India’s defence and homeland security markets, with international expansion to follow once a strong domestic foundation is established.