India Aerospace and Defence Market Size, Trends and Insights By Security (Cybersecurity, Homeland Security, Border Security, Others), By Service (Maintenance, Repair & Operations (MRO), Modelling, Training & Simulation (MTS), Logistics), By Application (Land, Small Arms,, Tanks, Armored Fighting Vehicles, Artillery, Mine Warfare, Communication Equipment, Air, Aircraft, Helicopters, Missiles, Amphibious Warfare, Communication Equipment, Sea, Submarines, Destroyers, Frigates, Corvettes, Communication Equipment, Mine Warfare), and By Region - Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | India |
| Largest Market: | India |
Major Players
- Bharat Electronics Limited
- Bharat Dynamics Limited
- Hindustan Aeronautics Ltd
- Mahindra
- Reliance Defense
- Others
Reports Description
India Aerospace and Defence Market was valued at USD 27.1 Billion in 2024 and is expected to reach USD 54.4 Billion by 2033, at a CAGR of 6.99% during the forecast period 2024 – 2033.
The Aerospace and Defence sector in India involves building aircraft, ships, spacecraft, weapon systems, and defense equipment. Aerospace and defense (A&D) companies sell their products and supporting services and sustainment programs to governments and private companies and other end use industries.
The Aerospace and Defense sector in India is rapidly growing and propelling the growth of the manufacturing sector from the front by manufacturing defense equipment of international quality standards and establishing technologically advanced manufacturing facilities.
Several Indian Aerospace and Defense equipment manufacturing companies have proven themselves capable of providing first-time correct quality comparable to global standards.
India Aerospace and Defence Market: Growth Factors
Indian Aerospace and Defence industry is at an inflexion point because of the modernisation and indigenisation programmes undertaken by all three services of one of the largest military forces in the world. An increase in the defense budget of India coupled with increasing governmental support for indigenous defense manufacturing is expected to drive the market growth during the forecast period.
For instance, the Government of India’s Finance Ministry allocated INR 6.21 lakh crore for the Ministry of Defence during the in FY 2024 budget. This marks a 4.3% increase from the previous year, constituting 13.04% of the Union Budget. Thus, growth in defense budget is expected to drive the market growth during the forecast period.
An increase in the number of space programs within the country is expected to drive market growth significantly during the forecast period. For instance, India has launched 424 foreign satellites in the last nine years and noting that the space budget has more than doubled.
Additionally, factors such as growing commercialization in the aerospace and defense sector, growing international collaborations, growing focus on space exploration missions, expansion of defence and aerospace services and development of advanced technologies are expected to boost the production and sale of aerospace and defence equipment’s in India, thereby driving the market growth.
An increase in the number of national security concerns and border threats is also expected to drive the demand for defence and aerospace machinery, devices and equipment during the forecast period. Growing national security concerns and border disputes have encouraged collaboration between the Indian Government and the market players and have led to the formation of several joint ventures to effectively serve the requirements of the Indian Armed Forces.
India Aerospace and Defence Market: Restraints
Various factors such as the high cost of newer technologies, shrinking budgets, rising operational costs, infrastructure management, MRO (Maintenance, Repair and Overhaul) and a complex global supply chain, lack of high end technologies, lengthy and time consuming processes are creating challenges for India Aerospace and Defence Market.
India Aerospace and Defence Market: Opportunities
Supportive government policies such as the Make in India Initiative, Production Linked Incentive Scheme, Defence Testing Infrastructure Scheme are boosting the production and sale of aerospace and defence equipment in India.
For instance, the Government of India have launched Defence Testing Infrastructure scheme to boost domestic defence and aerospace manufacturing with the aim to set up Greenfield Defence Testing Infrastructure as a common test facility for government assistance to promote domestic defence production and bridge the gaps in defence testing infrastructure in the country. Such supportive government policies are expected to create lucrative opportunities for the market during the forecast period.
Additionally, The Indian aerospace and defence market is creating significant opportunities for Indian and foreign companies across the supply and values chain. India has the third-largest armed forces in the world, and its defence budget is about 1.90% of its GDP.
India is one of the largest importers of conventional defence equipment and spends about 40% of its total defence budget on capital acquisitions. About 70% of its defence requirements are met through imports. Thus these factors are expected to create lucrative opportunities for many global players to enter in Indian Market.
India Aerospace and Defence Market: Segmentation Analysis
India’s Aerospace and Defence market is segmented by security, service, application and region. By Security, India’s aerospace and defense market is segmented into cybersecurity, homeland security, border security and others.
Among all of these, the border security segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period owing to growing border disputes and geopolitical conflicts. Increasing threats from neighbouring countries and growing border disputes with China, Bangladesh and Pakistan are expected to boost the demand for aerospace and defense equipment in India.
To address these challenges, India has increased its military presence along the borders and improved its aerospace and defence infrastructure. The cybersecurity segment is expected to grow at substantial growth rates during the forecast period owing to increasing cyber-attacks and growing demand for safeguarding data and privacy.
By service, India’s aerospace and defense market is segmented into Maintenance, Repair & Operations (MRO), Modelling, Training & Simulation (MTS) and Logistics. Among all of these services, Modelling, Training & Simulation (MTS) service held the highest market share in 2023 and is expected to keep its dominance during the forecast period.
A rapidly evolving threat environment necessitates efficient training courses that enable security and military forces to quickly pivot to changes. Repair & Operations (MRO) is expected to hold a substantial market share during the forecast period. As Indian forces strive to do more without increasing their costs, one critical area for improving performance is equipment maintenance, repair, and overhaul (MRO).
By Application, India’s aerospace and defense market is segmented into land, air, and sea. Among all of these segments, the Air application segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period driven by the burgeoning demand for advanced infrastructure and growing demand for advanced aircraft missiles.
The land segment is expected to hold a substantial market share during the forecast period. The land application segment includes small arms, tanks, armoured fighting vehicles, artillery, mine warfare and communication equipment.
Report Scope
| Feature of the Report | Details |
| Market Size in 2024 | USD 27.1 Billion |
| Projected Market Size in 2033 | USD 54.4 Billion |
| Market Size in 2023 | USD 25.5 Billion |
| CAGR Growth Rate | 6.99% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Security, Service, Application and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| India Scope | India |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
India Aerospace and Defence Market: Regional Analysis
India Aerospace and Defence market is segmented into North India, South India, East India, and West India. Among all these regions, North India held a significant market share of India’s Aerospace and Defence Market in 2022 and is expected to grow at a significant pace during the forecast period.
Northern states such as Punjab, J&K and Himachal Pradesh share borders with many neighbouring countries, growing border disputes with these countries driving the market growth of this region.
West India is expected to emerge as a potential region during the forecast period. States like Maharashtra, Gujrat, and Madhya Pradesh are playing a major role in driving the growth of this region. Increasing production and defence and aerospace equipment in these states and the presence of many naval and military bases are driving the market growth of this region.
India Aerospace and Defence Market: Recent Developments
- Recently, Hindustan Aeronautics Ltd signed a Memorandum of Understanding (MoU) with Argentina for helicopter exports. Such initiatives are expected to boost the growth of India’s Aerospace and Defense sector.
- In September 2023, Bharat Electronics Limited (BEL) and Israel Aerospace Industries (IAI), Israel’s leading aerospace and defence company signed a Memorandum of Understanding (MoU) for cooperation in addressing India’s requirements in the domain of Short Range Air Defence Systems.
- In July 2023, Bharat Electronics Limited (BEL) and CoRover Private Limited, a human-centric conversational and generative AI company, signed a two-year, non-exclusive Memorandum of Understanding (MoU) to collaborate as partners and indigenously develop and deploy emerging technologies and technical solutions to address the requirements of AI-based solutions, especially Conversational AI-based virtual assistants.
- In February 2024, Air India Ltd, Tata Advanced Systems Limited (TASL), a leading private sector player in aerospace and defense solutions and India’s prominent global airline, officially signed a Memorandum of Understanding (MoU) with the Government of Karnataka. This collaboration involves a combined investment of INR 2300 crore in the aerospace and defense sector of the state.
List of the prominent players in the India Aerospace and Defence Market:
- Bharat Forge companies in Ordinance Factory Board
- Bharat Electronics Limited
- Bharat Dynamics Limited
- Hindustan Aeronautics Ltd
- Mahindra
- Reliance Defense
- Adani Aerospace and Defense
- Tata Power Strategic Engineering Division
- Tata Advanced Systems Limited
- Northrop Grumman Corporation
- Thales Group
- Lockheed Martin Corporation
- Honeywell International, Inc.
- BAE Systems
- The Boeing Company
- United Aircraft Corp
- Dassault Aviation SA
- Others
These key players are adopting various growth strategies such as mergers & acquisitions, joint ventures, expansion, strategic alliances, new product launches, etc. to enhance their business operations and revenues.
The India Aerospace and Defence Market is segmented as follows:
By Security
- Cybersecurity
- Homeland Security
- Border Security
- Others
By Service
- Maintenance
- Repair & Operations (MRO)
- Modelling
- Training & Simulation (MTS)
- Logistics
By Application
- Land
- Small Arms
- Tanks
- Armored Fighting Vehicles
- Artillery
- Mine Warfare
- Communication Equipment
- Air
- Aircraft
- Helicopters
- Missiles
- Amphibious Warfare
- Communication Equipment
- Sea
- Submarines
- Destroyers
- Frigates
- Corvettes
- Communication Equipment
- Mine Warfare
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market Research Methodology
- Chapter 2. Executive Summary
- 2.1 India Aerospace and Defence Market, (2024 – 2033) (USD Billion)
- 2.2 India Aerospace and Defence Market: snapshot
- Chapter 3. India Aerospace and Defence Market – Industry Analysis
- 3.1 India Aerospace and Defence Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Supportive Government Policies
- 3.2.2 Increasing defence budget
- 3.2.3 Growing Border Disputes
- 3.2.4 Changing geo-political situations.
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market Attractiveness Analysis By Security
- 3.7.2 Market Attractiveness Analysis By Service
- 3.7.3 Market Attractiveness Analysis By Application
- Chapter 4. India Aerospace and Defence Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 India Aerospace and Defence Market: Company Market Share, – 2033
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. India Aerospace and Defence Market – Security Analysis
- 5.1 India Aerospace and Defence Market Overview: By Security
- 5.1.1 India Aerospace and Defence Market Share, By Security, – 2033 and 2024
- 5.2 Cybersecurity
- 5.2.1 India Aerospace and Defence Market by Cybersecurity, 2024 – 2033 (USD Billion)
- 5.3 Homeland Security
- 5.3.1 India Aerospace and Defence Market by Homeland Security, 2024 – 2033 (USD Billion)
- 5.4 Border Security
- 5.4.1 India Aerospace and Defence Market by Border Security, 2024 – 2033 (USD Billion)
- 5.5 Others
- 5.5.1 India Aerospace and Defence Market by Others, 2024 – 2033 (USD Billion)
- 5.1 India Aerospace and Defence Market Overview: By Security
- Chapter 6. India Aerospace and Defence Market – Service Analysis
- 6.1 India Aerospace and Defence Market Overview: By Service
- 6.1.1 India Aerospace and Defence Market Share, By Service, – 2033 and 2024
- 6.2 Maintenance
- 6.2.1 India Aerospace and Defence Market by Maintenance, 2024 – 2033 (USD Billion)
- 6.3 Repair & Operations (MRO)
- 6.3.1 India Aerospace and Defence Market by Repair & Operations (MRO), 2024 – 2033 (USD Billion)
- 6.4 Modelling
- 6.4.1 India Aerospace and Defence Market by Modelling, 2024 – 2033 (USD Billion)
- 6.5 Training & Simulation (MTS)
- 6.5.1 India Aerospace and Defence Market by Training & Simulation (MTS), 2024 – 2033 (USD Billion)
- 6.6 Logistics
- 6.6.1 India Aerospace and Defence Market by Logistics, 2024 – 2033 (USD Billion)
- 6.1 India Aerospace and Defence Market Overview: By Service
- Chapter 7. India Aerospace and Defence Market – Application Analysis
- 7.1 India Aerospace and Defence Market Overview: By Application
- 7.1.1 India Aerospace and Defence Market Share, By Application, – 2033 and 2024
- 7.2 Land
- 7.2.1 India Aerospace and Defence Market by Land, 2024 – 2033 (USD Billion)
- 7.3 Small Arms
- 7.3.1 India Aerospace and Defence Market by Small Arms, 2024 – 2033 (USD Billion)
- 7.4 Tanks
- 7.4.1 India Aerospace and Defence Market by Tanks, 2024 – 2033 (USD Billion)
- 7.5 Armored Fighting Vehicles
- 7.5.1 India Aerospace and Defence Market by Armored Fighting Vehicles, 2024 – 2033 (USD Billion)
- 7.6 Artillery
- 7.6.1 India Aerospace and Defence Market by Artillery, 2024 – 2033 (USD Billion)
- 7.7 Mine Warfare
- 7.7.1 India Aerospace and Defence Market by Mine Warfare, 2024 – 2033 (USD Billion)
- 7.8 Communication Equipment
- 7.8.1 India Aerospace and Defence Market by Communication Equipment, 2024 – 2033 (USD Billion)
- 7.9 Air
- 7.9.1 India Aerospace and Defence Market by Air, 2024 – 2033 (USD Billion)
- 7.10 Aircraft
- 7.10.1 India Aerospace and Defence Market by Aircraft, 2024 – 2033 (USD Billion)
- 7.11 Helicopters
- 7.11.1 India Aerospace and Defence Market by Helicopters, 2024 – 2033 (USD Billion)
- 7.12 Missiles
- 7.12.1 India Aerospace and Defence Market by Missiles, 2024 – 2033 (USD Billion)
- 7.13 Amphibious Warfare
- 7.13.1 India Aerospace and Defence Market by Amphibious Warfare, 2024 – 2033 (USD Billion)
- 7.14 Communication Equipment
- 7.14.1 India Aerospace and Defence Market by Communication Equipment, 2024 – 2033 (USD Billion)
- 7.15 Sea
- 7.15.1 India Aerospace and Defence Market by Sea, 2024 – 2033 (USD Billion)
- 7.16 Submarines
- 7.16.1 India Aerospace and Defence Market by Submarines, 2024 – 2033 (USD Billion)
- 7.17 Destroyers
- 7.17.1 India Aerospace and Defence Market by Destroyers, 2024 – 2033 (USD Billion)
- 7.18 Frigates
- 7.18.1 India Aerospace and Defence Market by Frigates, 2024 – 2033 (USD Billion)
- 7.19 Corvettes
- 7.19.1 India Aerospace and Defence Market by Corvettes, 2024 – 2033 (USD Billion)
- 7.20 Communication Equipment
- 7.20.1 India Aerospace and Defence Market by Communication Equipment, 2024 – 2033 (USD Billion)
- 7.21 Mine Warfare
- 7.21.1 India Aerospace and Defence Market by Mine Warfare, 2024 – 2033 (USD Billion)
- 7.1 India Aerospace and Defence Market Overview: By Application
- Chapter 8. India Aerospace and Defence Market – Regional Analysis
- 8.1 India Aerospace and Defence Market Regional Overview
- 8.2 India Aerospace and Defence Market Share, by Region, – 2033 & 2024 (USD Billion)
- Chapter 9. Company Profiles
- 9.1 Bharat Forge Companies in Ordinance Factory Board
- 9.1.1 Overview
- 9.1.2 Financials
- 9.1.3 Product Portfolio
- 9.1.4 Business Strategy
- 9.1.5 Recent Developments
- 9.2 Bharat Electronics Limited
- 9.2.1 Overview
- 9.2.2 Financials
- 9.2.3 Product Portfolio
- 9.2.4 Business Strategy
- 9.2.5 Recent Developments
- 9.3 Bharat Dynamics Limited
- 9.3.1 Overview
- 9.3.2 Financials
- 9.3.3 Product Portfolio
- 9.3.4 Business Strategy
- 9.3.5 Recent Developments
- 9.4 Hindustan Aeronautics Ltd
- 9.4.1 Overview
- 9.4.2 Financials
- 9.4.3 Product Portfolio
- 9.4.4 Business Strategy
- 9.4.5 Recent Developments
- 9.5 Mahindra
- 9.5.1 Overview
- 9.5.2 Financials
- 9.5.3 Product Portfolio
- 9.5.4 Business Strategy
- 9.5.5 Recent Developments
- 9.6 Reliance Defense
- 9.6.1 Overview
- 9.6.2 Financials
- 9.6.3 Product Portfolio
- 9.6.4 Business Strategy
- 9.6.5 Recent Developments
- 9.7 Adani Aerospace and Defense
- 9.7.1 Overview
- 9.7.2 Financials
- 9.7.3 Product Portfolio
- 9.7.4 Business Strategy
- 9.7.5 Recent Developments
- 9.8 Tata Power Strategic Engineering Division
- 9.8.1 Overview
- 9.8.2 Financials
- 9.8.3 Product Portfolio
- 9.8.4 Business Strategy
- 9.8.5 Recent Developments
- 9.9 Tata Advanced Systems Limited
- 9.9.1 Overview
- 9.9.2 Financials
- 9.9.3 Product Portfolio
- 9.9.4 Business Strategy
- 9.9.5 Recent Developments
- 9.10 Northrop Grumman Corporation
- 9.10.1 Overview
- 9.10.2 Financials
- 9.10.3 Product Portfolio
- 9.10.4 Business Strategy
- 9.10.5 Recent Developments
- 9.11 Thales Group
- 9.11.1 Overview
- 9.11.2 Financials
- 9.11.3 Product Portfolio
- 9.11.4 Business Strategy
- 9.11.5 Recent Developments
- 9.12 Lockheed Martin Corporation
- 9.12.1 Overview
- 9.12.2 Financials
- 9.12.3 Product Portfolio
- 9.12.4 Business Strategy
- 9.12.5 Recent Developments
- 9.13 Honeywell International
- 9.13.1 Overview
- 9.13.2 Financials
- 9.13.3 Product Portfolio
- 9.13.4 Business Strategy
- 9.13.5 Recent Developments
- 9.14 Dassualt Aviation SA
- 9.14.1 Overview
- 9.14.2 Financials
- 9.14.3 Product Portfolio
- 9.14.4 Business Strategy
- 9.14.5 Recent Developments
- 9.15 BAE Systems
- 9.15.1 Overview
- 9.15.2 Financials
- 9.15.3 Product Portfolio
- 9.15.4 Business Strategy
- 9.15.5 Recent Developments
- 9.16 The Boeing Company
- 9.16.1 Overview
- 9.16.2 Financials
- 9.16.3 Product Portfolio
- 9.16.4 Business Strategy
- 9.16.5 Recent Developments
- 9.17 United Aircraft Corp
- 9.17.1 Overview
- 9.17.2 Financials
- 9.17.3 Product Portfolio
- 9.17.4 Business Strategy
- 9.17.5 Recent Developments
- 9.18 Others.
- 9.18.1 Overview
- 9.18.2 Financials
- 9.18.3 Product Portfolio
- 9.18.4 Business Strategy
- 9.18.5 Recent Developments
- 9.1 Bharat Forge Companies in Ordinance Factory Board
List Of Figures
Figures No 1 to 40
List Of Tables
Tables No 1 to 2
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2032
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
|
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| Demand-side |
|
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
|
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Prominent Player
- Bharat Forge companies in Ordinance Factory Board
- Bharat Electronics Limited
- Bharat Dynamics Limited
- Hindustan Aeronautics Ltd
- Mahindra
- Reliance Defense
- Adani Aerospace and Defense
- Tata Power Strategic Engineering Division
- Tata Advanced Systems Limited
- Northrop Grumman Corporation
- Thales Group
- Lockheed Martin Corporation
- Honeywell international, Inc.
- BAE Systems
- The Boeing Company
- United Aircraft Corp
- Dassualt Aviation SA
- Others
FAQs
The restraints of the Indian Aerospace and Defence market includes stringent regulations, counterfeiting of Aerospace and Defence devices, lack of advanced technology, high cost of defence technologies etc.
The major drivers for the India Aerospace and Defence market are supportive government policies, increasing defence budget, growing border disputes and changing geo political situations.
The “Services” category dominated the market in 2023.
The key players in the market are Bharat Forge companies in Ordinance Factory Board, Bharat Electronics Limited, Bharat Dynamics Limited, Hindustan Aeronautics Ltd, Mahindra, Reliance Defense, Adani Aerospace and Defense , Tata Power Strategic Engineering Division, Tata Advanced Systems Limited, Northrop Grumman Corporation, Thales Group, Lockheed Martin Corporation, Honeywell international, Inc., BAE Systems, The Boeing Company, United Aircraft Corp, Dassualt Aviation SA, Others.
The market is projected to grow at a CAGR of 6.99% during the forecast period, 2024-2033.
The India Aerospace and Defence Market size was valued at USD 27.1 Billion in 2024.
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