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One more...today you're giving banger upon banger of replies.I really think most Defense Startups fail because they jump on a bandwagon expecting easy profits. The Tonbo Imaging seems to be founded by a true enthusiast, someone with a passion. Profits are important but without passion and genuine r&d intentions, they will fail.
I don't know how many of you here are aware with it but we're facing a serious electric two wheeler "problem" from past couple of years. Hundreds of companies, no one has ever heard of are selling EV scooters. In every city, especially Tier 2 and 3, you'd find numerous such "generic" sounding firms; Revolve, Dynamo, Velocity, Energy. As you'd dive deeper you'd find one very peculiar thing; all these firms no matter where are selling virtually identical scooters albeit with a different model name. Turns out every single of them imports the same CKDs from the same Chinese OEM for as little as 12,000 and just assembles them here with a brand logo. On a surface level it may look fine as ultimately EV sales are increasing, more companies are coming up, people are getting cheaper options...but the problem is that even the companies themselves know that they'd go bankrupt in a year or two as the market is extremely saturated with everyone selling exactly the same thing.
So they become what we call "fly by night operators" where they know they can't sustain in the long run so try to get as much as profits possible before the shutter is pulled down. And the go to method of this is obviously by substandard quality.
I won't say that it's the exact same case in defence and aerospace sector. But also what is happening is not very far from it.
These are just handful of defence startup that I track
Artemon Aerospace, COMRADO Aerospace, DroneAcharya, Edge Force, Endure Air, Kadet Defence System, LYCAN Defence, NextLeap Aeronautics, VU Dynamics, Zulu Defence, InsideFPV, Asteria Aerospace, Sarus Aerospace, Johnnette Aerospace, Throttle Aerospace, Veda Aeronautics, BigGen Technologies, OM UAV Systems, AeroArc, Garuda Aerospace, Sagar Defence
Guess what's common among them!?
Yup
All of them makes UAVs.