India Defense Market Size, Trends, Budget Allocation, Regulations, Acquisitions, Competitive Landscape and Forecast to 2028
Powered by
All the vital news, analysis, and commentary curated by our industry experts.
India Defense Market Report Overview
The India defense budget is worth $74 billion in 2023 and is expected to achieve a CAGR of more than 4% during 2024-2028. The India defense market research report provides the market size forecast and the projected growth rate for the next five years. The report covers industry analysis including the key market drivers, emerging technology trends, and major challenges faced by market participants. It also offers insights regarding key factors and government programs that are expected to influence the demand for military platforms over the forecast period.
India Defense Market Outlook, 2023-2028
To gain more information about the India defense market forecast, download a free report sample
India Defense Market Drivers
India’s territorial dispute with China extends to the northeastern state of Arunachal-Pradesh and the northern state of Jammu and Kashmir while the territorial dispute with Pakistan is primarily over the ownership of the Indian state of Jammu and Kashmir and the marshy region of Sir Creek. This dispure acts as a driver for the defense market. Moreover, India is investing heavily in modernizing its defense forces with specific emphasis on reinforcing its Air Force and naval capabilities due to the need to maintain a robust independent defense posture to sustain its non—alignment policy.
India Military Doctrines and Defense Strategies
India increasingly faces the prospect of a two-front war and has invested considerable time in analyzing the next generation of warfare. The country has used the last decade to continuously fine-tune its operational gaps and develop a high level of integration and synergy between its armed forces, so they are capable of executing practical limited conventional war-fighting strategies against an adversary. The Integrated Defence Staff of India published a joint doctrine in 2010 and came up with a Joint Training Doctrine in 2017. The country finally released a second edition of the draft joint doctrine for the Indian armed forces in 2017, which aims to develop a high level of synchronization between the movements and operations of the army, the navy, and the air force. Both of these doctrines aim to eventually enhance the overall joint-operations capability of the Indian armed forces.
India Defense Market Segmentation by Sectors
The key sectors in the India defense market are military fixed-wing, missiles and missile defense systems, naval vessels and surface combatants, military rotorcraft, submarines, artillery, electronic warfare, military land vehicles, military radar, military UAV, tactical communications systems, EOIR, underwater warfare systems, military simulation and training, naval engines, INS GNSS, and military UGV. The top sector in the Indian defense market is military fixed-wing, followed by missiles and missile defense systems and naval vessels and surface combatants.
India Defense Market Analysis by Sectors, 2023 (%)
For more sector insights into the India defense market, download a free report sample
India Defense Market - Competitive Landscape
Some of the leading defense companies in India are Tata Motors Ltd, Tata Consultancy Services Ltd, Larsen & Toubro Ltd, Infosys Ltd, Mahindra & Mahindra Ltd, Wipro Ltd, Ashok Leyland Ltd, Hindustan Aeronautics Ltd, Siemens Ltd, and Bharat Electronics Ltd.
India Defense Market Report Overview
Market Size (2023) | $74 billion |
CAGR (2024-2028) | >4% |
Forecast Period | 2024-2028 |
Historical Period | 2019-2023 |
Key Sectors | Military Fixed-Wing, Missiles and Missile Defense Systems, Naval Vessels and Surface Combatants, Military Rotorcraft, Submarines, Artillery, Electronic Warfare, Military Land Vehicles, Military Radar, Military UAV, Tactical Communications Systems, EOIR, Underwater Warfare Systems, Military Simulation and Training, Naval Engines, INS GNSS, and Military UGV |
Leading Companies | Tata Motors Ltd, Tata Consultancy Services Ltd, Larsen & Toubro Ltd, Infosys Ltd, Mahindra & Mahindra Ltd, Wipro Ltd, Ashok Leyland Ltd, Hindustan Aeronautics Ltd, Siemens Ltd, and Bharat Electronics Ltd |
Segments Covered in the Report
India Defense Sectors Outlook (Value, $ Billion, 2019-2028)
- Military Fixed-Wing
- Missiles and Missile Defense Systems
- Naval Vessels and Surface Combatants
- Military Rotorcraft
- Submarines
- Artillery
- Electronic Warfare
- Military Land Vehicles
- Military Radar
- Military UAV
- Tactical Communications Systems
- EOIR
- Underwater Warfare Systems
- Military Simulation and Training
- Naval Engines
- INS GNSS
- Military UGV
Scope
The report provides an in-depth analysis of the following –
- India defense budget: detailed analysis of India FY2022 defense budget broken down into market size and market share. This is coupled with an examination of key current and future acquisitions.
- Regulation: the procurement policy and process is explained. This is coupled with an analysis of the India military doctrine and strategy to provide a comprehensive overview of India military regulation.
- Security Environment: political alliances and perceived security threats to India are examined to explain trends in spending and modernization.
- Import and Export Dynamics: analysis of prevalent trends in the country’s imports and exports over the last five years
- Competitive landscape and strategic insights: analysis of the competitive landscape of the India defense industry.
Reasons to Buy
- Determine prospective investment areas based on a detailed trend analysis of the India defense market over the next five years
- Gain an in-depth understanding of the underlying factors driving demand for different defense and internal security segments in the Indian market and identify the opportunities offered.
- Strengthen your understanding of the market in terms of demand drivers, market trends, and the latest technological developments, among others.
- Identify the major threats that are driving the Indian defense market providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion.
- Channel resources by focusing on the ongoing programs that are being undertaken by the Indian government.
- Make correct business decisions based on an in-depth analysis of the competitive landscape consisting of detailed profiles of the top defense equipment providers in the country. The company profiles also include information about the key products, alliances, recent contract awarded, and financial analysis, wherever available.
Bharat Dynamics Ltd (BDL)
Sikorsky Aircraft Corp
Table of Contents
Frequently asked questions
-
What is the India defense market size in 2023?
The defense market size in India is $74 billion in 2023.
-
What is the India defense market growth rate?
The defense market in India is expected to achieve a CAGR of more than 4% during 2024-2028.
-
What are the key sectors in the India defense market?
The key sectors in the Indian defense market are military fixed-wing, missiles and missile defense systems, naval vessels and surface combatants, military rotorcraft, submarines, artillery, electronic warfare, military land vehicles, military radar, military UAV, tactical communications systems, EOIR, underwater warfare systems, military simulation and training, naval engines, INS GNSS, and military UGV.
-
Which are the leading companies in the India defense market?
Some of the leading companies in the India defense market are Tata Motors Ltd, Tata Consultancy Services Ltd, Larsen & Toubro Ltd, Infosys Ltd, Mahindra & Mahindra Ltd, Wipro Ltd, Ashok Leyland Ltd, Hindustan Aeronautics Ltd, Siemens Ltd, and Bharat Electronics Ltd.
Get in touch to find out about multi-purchase discounts
reportstore@globaldata.com
Tel +44 20 7947 2745
Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.