The distance or difference between the static level and the pumping level. When the drawdown for any particular capacity well and rate pump bowls is determined, the pumping level is known for that capacity. The pump bowls are located below the pumping level so that they will always be underwater. When the drawdown is fixed or remains steady, the well is then furnishing the same amount of water as is being pumped.

Lowering the water level by pumping. It is measured in feet for a given quantity of water pumped during a specified period, or after the pumping level has become constant.

Source: Handbook of water and wastewater treatment plant operations

Wikipedia:  https://en.wikipedia.org/wiki/Drawdown_(hydrology)