Press Release

India Defense Equipment Market is to be Dominated by the Arm Forces Segment through 2028

Increasing demand for advanced defense machinery due to rising conflicts among nations can drive the growth of the India defense equipment market through 2028.

According to TechSci Research report, India Defense Equipment Market- Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2018- 2028F, the Indian defense equipment market is essential as it protects the nation, confronts, and combats all potential threats and hostility. Since a significant portion of the defense equipment market is imported from other countries, the demand for defense equipment manufacturing has grown exponentially, creating huge opportunities for the development of existing as well as new entrants. The Indian defense equipment market is likely to grow rapidly with the introduction of new technologies by more and more companies. Moreover, it is expected to grow at a higher rate in coming years.

Furthermore, the government aims to achieve USD 25 billion in sales by 2025, including USD 5 billion from exports of aerospace and defense products and services. The country has used the past decade to continuously close operational gaps, develop a high degree of integration and synergy among its armed forces, and carry out substantially limited conventional warfare strategies against adversaries. Over the past five years, India has become one of the top importers of defense equipment as to gain a technological edge over rivals such as China and Pakistan. The government has taken several steps to encourage the “Make in India” operation through political support programs to modernize the armed forces and reduce reliance on external sources for purchasing defense equipment. In addition, four positive indigenization lists, including 411 domestically manufactured products for the defense sector, were announced by the Ministry of Defense and the Military affairs as part of the Atmanirbhar Bharat Initiative. Moreover, with advanced technology and local manufacturers, the India defense equipment market to gain more demand in coming years.

Many major players are collaborating and receiving orders for defense equipment from Government of India and other countries. For instance, a contract was signed between Hindustan Aeronautics Limited (HAL) and the Argentine Air Force (AAF) to provide spare parts and engine repair for vintage two-ton class helicopters. Overall, because of above-mentioned developments, India defense equipment is anticipated to grow at higher rate during forecast period.

Key market players in the India defense equipment market include:

·         Hindustan Aeronautics Limited (HAL)

·         Defense Research and Development Organisation (DRDO)

·         Bharat Electronics Limited (BEL)

·         Bharat Forge

·         Electronics Corporation of India (ECIL)

·         Mahindra Defence System Ltd.

·         Larsen & Toubro

·         Bharat Dynamics

·         Tata Advanced Systems

·         Boeing India


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The India defense equipment market is segmented based on arm forces, mode, key sectors, company, and region. Based on arm forces, the market is divided into army, navy, and air force. Majority of market is capture by arm forces due large volume and necessitity of advanced equipment in border areas. Based on mode type, it is further segmented into domestic, import, and export. India defence equipment market is import driven from countries such as Russia and France. Also, domestic market is growing at higher rate due to increasing manufacturing capabilities. Based on key sectors, the market is divided into military fixed-wing aircrafts, missiles and missile defense systems, electronic warfare, underwater warfare systems, military warheads (land vehicles, radar, UAV, UGV), weapons & ammunition, and others. Further, the market is also divided into regions, mainly into North, West, South, and East.


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“The ongoing territorial conflicts between India and Pakistan and China’s control over the northern state of Kashmir and the northeastern state of Arunachal Pradesh, respectively, have boosted the demand for defense equipment market in India. Additionally, with development in collaboration with major defense manufacturers such as France and United States has increased the overall sales of defense equipment in India.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

India Defense Equipment Market Segmented By Arm Forces (Army, Navy, Air Force), By Mode Type (Domestic, Import, Export), By Key Sectors (Military Fixed-Wing Aircrafts, Missiles and Missile Defense Systems, Electronic Warfare, Underwater Warfare Systems, Military Warheads (Land Vehicles, Radar, UAV, UGV), Weapons & Ammunition, Others), By Region, Competition, Forecast and Opportunities, 2029 has evaluated the future growth potential of India defense equipment market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the India defense equipment market.


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