PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1534366
PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1534366
India Defense Market, By Armed Forces; By Product Type; By Supplier; By Region, Trend Analysis, Competitive Landscape & Forecast, 2019-2030
India Defense Market Size Booming at Robust CAGR of almost 8% to Touch USD 29.3 Billion by 2030
India Defense Market is flourishing due to the rising defense expenditures, the government's increasing focus on self-reliance, and modernization needs of the defense sector.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the India Defense Market size at USD 23.13 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the India Defense Market size to expand at a CAGR of 7.98% reaching a value of USD 29.27 billion by 2030. The Defense Market in India is propelled by the government's increasing number of supportive initiatives emphasizing modernization and self-reliance in defense. These efforts, including the "Make in India" campaign, prioritize indigenous production, research and development, fostering collaborations with both domestic and international defense entities to bolster capabilities and reduce the country's reliance on imports. Other key factors driving the market include the pressing need for military equipment due to ongoing border disputes with neighboring countries like China, Pakistan, and Bangladesh. Tensions along the Line of Actual Control (LAC) with China and similar conflicts with Pakistan have underscored the necessity for large-caliber munitions. India's significant defense expenditure, as highlighted by the Stockholm International Peace Research Institute (SIPRI) 2022 report, positions it as the world's fourth-largest defense spender, allocating USD 81.4 billion. Sustained growth in India's defense budget is crucial for the market expansion. The Government of India's allocation for purchasing new weapons and platforms in 2023-2024 underscores the country's commitment. Furthermore, earmarking funds for defense-related R&D align with the vision of "Atmanirbhar Bharat," or self-reliant India, promoting indigenous defense manufacturing. These strategic investments are poised to further propel the India Defense Market forward over the forecast period.
Opportunity - Increasing participation of private sector
India's defense sector, vital for national security, is witnessing a surge in private sector involvement. Government initiatives aim to create a conducive environment for private enterprises, emphasizing transparency, ease of doing business, and foreign investment liberalization. Measures such as de-licensing, de-regulation, and export promotion have been introduced to facilitate private sector participation. Notably, the reorganization of ordnance factories into corporate entities aims to enhance competitiveness and foster exploration of new markets, including exports. The establishment of defense corridors in Uttar Pradesh and Tamil Nadu further signifies the government's commitment to leveraging private sector capabilities. As India pursues self-reliance in defense manufacturing, private sector engagement is crucial for innovation, efficiency, and growth. With the right support and initiatives, private enterprises are poised to play a significant role in shaping the future of India's defense industry.
Impact of Escalating Geopolitical Tensions on India Defense Market
Geopolitical tensions can have a multifaceted impact on the India Defense Market by fueling increased defense spending and prioritizing indigenous defense capabilities. India may allocate more resources toward modernizing its armed forces, acquiring advanced weaponry, and enhancing domestic defense production capabilities. Additionally, heightened tensions may stimulate partnerships with international defense suppliers, fostering technology transfers and collaborations. However, economic strains due to heightened security concerns could constrain overall defense budgets, necessitating strategic prioritization and efficient resource allocation to meet evolving security challenges while balancing fiscal constraints.
India Defense Market
Segmental Information
India Defense Market - By Product Type
Based on product type, the India Defense Market is divided into Fixed Wing Aircraft (fighter jets, transport aircraft); Rotorcraft (helicopters); Ground Vehicles (tanks, armored fighting vehicles); Naval Vessels (aircraft carriers, submarines, destroyers); Command, Control, Communications, Computers, Intelligence, Surveillance, and Reconnaissance (C4ISR) Systems; Weapons & Ammunition; Protection & Training Equipment; and Unmanned Aerial Vehicles (UAVs) segments. The naval vessels segment holds the highest share in the India Defense Market by product type. The Indian Navy, a pivotal aspect of the nation's defense, safeguards maritime interests with a diverse fleet. Its core mission is protecting maritime borders, detecting threats, and maintaining security in both peace and war. Rising defense spending, exemplified by a notable increase in 2022, spurs demand. With 181 surface vessels and 18 submarines, the Navy pursues innovations and incorporating unmanned vessels and underwater systems. The recent commissioning of INS Sandhayak underscores this commitment, enhancing hydrographic survey capabilities. About 67 ships are under construction as part of the Make in India initiative, signaling sustained growth in the naval vessel segment.
Competitive Landscape
The India Defense Market is fragmented, with numerous players serving the market. The key players dominating the India Defense Market include The Boeing Company, Kalyani Group, Hindustan Aeronautics Limited (HAL), Bharat Electronics Limited (BEL), Rafael Advanced Defense Systems Ltd, Reliance Group, IAI Group, Mahindra & Mahindra Ltd, Larsen & Toubro Limited, Ordnance Factory Board (OFB), Hinduja Group, Tata Sons Private Limited, Defense Research and Development Organisation (DRDO), Airbus SE, Goa Shipyard Limited (GSL), and Rostec. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge in the overall market.
The report's in-depth analysis provides information about growth potential, upcoming trends, and the India Defense Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the India Defense Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
Table of Contents
1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
2. Executive Summary
3. India Defense Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Rising Defense Expenditure
- 3.2.1.2. Focus on Self-Reliance
- 3.2.1.3. Modernization Needs
- 3.2.2. Restraints
- 3.2.2.1. Limited Domestic Capabilities
- 3.2.2.2. Bureaucratic Hurdles
- 3.2.2.3. Reliance on Imports
- 3.2.3. Opportunities
- 3.2.3.1. Technological Advancements
- 3.2.3.2. Increased Exports
- 3.2.3.3. Private Sector Participation
- 3.2.4. Challenges
- 3.2.4.1. Cybersecurity Threats
- 3.2.4.2. Skilled Workforce Shortage
- 3.2.1. Growth Drivers
- 3.3. Technological Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
4. India Defense Market: Pricing Analysis
5. India Defense Market: Marketing Strategies
6. India Defense Market Overview
- 6.1. Market Size & Forecast, 2019-2030
- 6.1.1. By Value (USD Billion)
- 6.2. Market Share & Forecast
- 6.2.1. By Armed Forces
- 6.2.1.1. Indian Army
- 6.2.1.2. Indian Navy
- 6.2.1.3. Indian Air Force
- 6.2.2. By Product Type
- 6.2.2.1. Fixed Wing Aircraft (Fighter Jets, Transport Aircraft)
- 6.2.2.2. Rotorcraft (Helicopters)
- 6.2.2.3. Ground Vehicles (Tanks, Armored Fighting Vehicles)
- 6.2.2.4. Naval Vessels (Aircraft Carriers, Submarines, Destroyers)
- 6.2.2.5. Command, Control, Communications, Computers, Intelligence, Surveillance, and Reconnaissance (C4ISR) Systems
- 6.2.2.6. Weapons & Ammunition
- 6.2.2.7. Protection & Training Equipment
- 6.2.2.8. Unmanned Aerial Vehicles (UAVs)
- 6.2.3. By Supplier
- 6.2.3.1. Domestic Companies
- 6.2.3.2. Foreign Companies
- 6.2.4. By Region
- 6.2.4.1. North India
- 6.2.4.2. South India
- 6.2.4.3. East India
- 6.2.4.4. West India
- 6.2.1. By Armed Forces
7. North India Defense Market
- 7.1. Market Size & Forecast, 2019-2030
- 7.1.1. By Value (USD Billion)
- 7.2. Market Share & Forecast
- 7.2.1. By Armed Forces
- 7.2.2. By Product Type
- 7.2.3. By Supplier
8. South India Defense Market
- 8.1. Market Size & Forecast, 2019-2030
- 8.1.1. By Value (USD Billion)
- 8.2. Market Share & Forecast
- 8.2.1. By Armed Forces
- 8.2.2. By Product Type
- 8.2.3. By Supplier
9. East India Defense Market
- 9.1. Market Size & Forecast, 2019-2030
- 9.1.1. By Value (USD Billion)
- 9.2. Market Share & Forecast
- 9.2.1. By Armed Forces
- 9.2.2. By Product Type
- 9.2.3. By Supplier
10. West India Defense Market
- 10.1. Market Size & Forecast, 2019-2030
- 10.1.1. By Value (USD Billion)
- 10.2. Market Share & Forecast
- 10.2.1. By Armed Forces
- 10.2.2. By Product Type
- 10.2.3. By Supplier
11. India Defense Market: Import & Export
12. Competitive Landscape
- 12.1. List of Key Players and Their Offerings
- 12.2. India Defense Company Market Share Analysis, 2023
- 12.3. Competitive Benchmarking, By Operation Channel Parameters
- 12.4. Key Strategic Development (Mergers, Acquisitions, Partnerships, etc.)
13. Impact of Escalating Geopolitical Tensions in India Defense Market
14. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
- 14.1. The Boeing Company
- 14.2. Kalyani Group
- 14.3. Hindustan Aeronautics Limited (HAL)
- 14.4. Bharat Electronics Limited (BEL)
- 14.5. Rafael Advanced Defense Systems Ltd
- 14.6. Reliance Group
- 14.7. IAI Group
- 14.8. Mahindra & Mahindra Ltd
- 14.9. Larsen & Toubro Limited
- 14.10. Ordnance Factory Board (OFB)
- 14.11. Hinduja Group
- 14.12. Tata Sons Private Limited
- 14.13. Defense Research and Development Organization (DRDO)
- 14.14. Airbus SE
- 14.15. Goa Shipyard Limited (GSL)
- 14.16. Rostec
- 14.17. Other Prominent Players
Key Strategic Recommendations
15. Research Methodology
- 15.1. Qualitative Research
- 15.1.1. Primary & Secondary Research
- 15.2. Quantitative Research
- 15.3. Market Breakdown & Data Triangulation
- 15.3.1. Secondary Research
- 15.3.2. Primary Research
- 15.4. Breakdown of Primary Research Respondents, By Region
- 15.5. Assumption & Limitation
*Financial information of non-listed companies will be provided as per availability
**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable
List of Figures
- Figure 1 India Defense Market Segmentation
- Figure 2 India Defense Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2023
- Figure 4 India Defense Market Size, By Value (USD Billion), 2019-2030
- Figure 5 India Defense Market Share, By Armed Forces, By Value (USD Billion) 2019-2030
- Figure 6 India Defense Market Share, By Product Type, By Value (USD Billion) 2019-2030
- Figure 7 India Defense Market Share, By Supplier, By Value (USD Billion) 2019-2030
- Figure 8 India Defense Market Share, By Region, By Value (USD Billion) 2019-2030
- Figure 9 North India Defense Market Size, By Value (USD Billion), 2019-2030
- Figure 10 North India Defense Market Share, By Armed Forces, By Value (USD Billion) 2019-2030
- Figure 11 North India Defense Market Share, By Product Type, By Value (USD Billion) 2019-2030
- Figure 12 North India Defense Market Share, By Supplier, By Value (USD Billion) 2019-2030
- Figure 13 South India Defense Market Size, By Value (USD Billion), 2019-2030
- Figure 14 South India Defense Market Share, By Armed Forces, By Value (USD Billion) 2019-2030
- Figure 15 South India Defense Market Share, By Product Type, By Value (USD Billion) 2019-2030
- Figure 16 South India Defense Market Share, By Supplier, By Value (USD Billion) 2019-2030
- Figure 17 East India Defense Market Size, By Value (USD Billion), 2019-2030
- Figure 18 East India Defense Market Share, By Armed Forces, By Value (USD Billion) 2019-2030
- Figure 19 East India Defense Market Share, By Product Type, By Value (USD Billion) 2019-2030
- Figure 20 East India Defense Market Share, By Supplier, By Value (USD Billion) 2019-2030
- Figure 21 West India Defense Market Size, By Value (USD Billion), 2019-2030
- Figure 22 West India Defense Market Share, By Armed Forces, By Value (USD Billion) 2019-2030
- Figure 23 West India Defense Market Share, By Product Type, By Value (USD Billion) 2019-2030
- Figure 24 West India Defense Market Share, By Supplier, By Value (USD Billion) 2019-2030
List of Tables
- Table 1 India Defense Market Size, By Value (USD Billion), 2019-2030
- Table 2 India Defense Market Share, By Armed Forces, By Value (USD Billion) 2019-2030
- Table 3 India Defense Market Share, By Product Type, By Value (USD Billion) 2019-2030
- Table 4 India Defense Market Share, By Supplier, By Value (USD Billion) 2019-2030
- Table 5 India Defense Market Share, By Region, By Value (USD Billion) 2019-2030
- Table 6 North India Defense Market Size, By Value (USD Billion), 2019-2030
- Table 7 North India Defense Market Share, By Armed Forces, By Value (USD Billion) 2019-2030
- Table 8 North India Defense Market Share, By Product Type, By Value (USD Billion) 2019-2030
- Table 9 North India Defense Market Share, By Supplier, By Value (USD Billion) 2019-2030
- Table 10 South India Defense Market Size, By Value (USD Billion), 2019-2030
- Table 11 South India Defense Market Share, By Armed Forces, By Value (USD Billion) 2019-2030
- Table 12 South India Defense Market Share, By Product Type, By Value (USD Billion) 2019-2030
- Table 13 South India Defense Market Share, By Supplier, By Value (USD Billion) 2019-2030
- Table 14 East India Defense Market Size, By Value (USD Billion), 2019-2030
- Table 15 East India Defense Market Share, By Armed Forces, By Value (USD Billion) 2019-2030
- Table 16 East India Defense Market Share, By Product Type, By Value (USD Billion) 2019-2030
- Table 17 East India Defense Market Share, By Supplier, By Value (USD Billion) 2019-2030
- Table 18 West India Defense Market Size, By Value (USD Billion), 2019-2030
- Table 19 West India Defense Market Share, By Armed Forces, By Value (USD Billion) 2019-2030
- Table 20 West India Defense Market Share, By Product Type, By Value (USD Billion) 2019-2030
- Table 21 West India Defense Market Share, By Supplier, By Value (USD Billion) 2019-2030
- Table 22 The Boeing Company Overview
- Table 23 The Boeing Company Financial Overview
- Table 24 Kalyani Group Company Overview
- Table 25 Kalyani Group Financial Overview
- Table 26 Hindustan Aeronautics Limited (HAL) Company Overview
- Table 27 Hindustan Aeronautics Limited (HAL) Financial Overview
- Table 28 Bharat Electronics Limited (BEL) Company Overview
- Table 29 Bharat Electronics Limited (BEL) Financial Overview
- Table 30 Rafael Advanced Defense Systems Ltd Company Overview
- Table 31 Rafael Advanced Defense Systems Ltd Financial Overview
- Table 32 Reliance Group Company Overview
- Table 33 Reliance Group Financial Overview
- Table 34 IAI Group Company Overview
- Table 35 IAI Group Financial Overview
- Table 36 Mahindra & Mahindra Ltd Company Overview
- Table 37 Mahindra & Mahindra Ltd Financial Overview
- Table 38 Larsen & Toubro Limited Company Overview
- Table 39 Larsen & Toubro Limited Financial Overview
- Table 40 Ordnance Factory Board (OFB) Company Overview
- Table 41 Ordnance Factory Board (OFB) Financial Overview
- Table 42 Hinduja Group Company Overview
- Table 43 Hinduja Group Financial Overview
- Table 44 Tata Sons Private Limited Company Overview
- Table 45 Tata Sons Private Limited Financial Overview
- Table 46 Defense Research and Development Organization (DRDO) Company Overview
- Table 47 Defense Research and Development Organization (DRDO) Financial Overview
- Table 48 Airbus SE Company Overview
- Table 49 Airbus SE Financial Overview
- Table 50 Goa Shipyard Limited (GSL) Company Overview
- Table 51 Goa Shipyard Limited (GSL) Financial Overview
- Table 52 Rostec Company Overview
- Table 53 Rostec Financial Overview
