India Aerospace & Defense Market Research Report: Know industry Dynamics, Opportunities and Risks 2024
Category: #Technology  By Ronak Bora  Date: 2021-03-22
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India Aerospace & Defense Market Research Report: Know industry Dynamics, Opportunities and Risks 2024

Driven by increasing focus on adopting indigenous manufacturing techniques to develop budget aircraft components, the India aerospace & defense market is expected to register significant gains by 2024. Current policy of allowing foreign companies to hold up to 49% share in joint ventures along with robust investments is likely to fuel market growth.

India is the third largest defense spender in the world. In the past five years, capital expenditure by the Ministry of Defense grew by around 15-20% and is anticipated to continue to grow considerably over the coming years. Shifting geopolitical situations on India’s borders is driving the demand for better defense equipment, which in turn is fueling the need for replacing obsolete equipment with newer models. Increasing participation from local as well as global industry players along with new contenders in the industry is projected to boost innovation and competition.

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The Indian Air Force (IAF) is seeking to improve its surveillance abilities by adopting new and advanced airborne warning & control systems. The military arm intends to strengthen its tactical and strategic lift capabilities by acquiring new transport fleets and fighter platforms.

In 2016, the Indian government signed an inter-governmental agreement with France for 36 Rafale jets worth Rs 59,000 crore. Evidently, in 2020, the first batch of five Rafale aircraft was handed to the Indian Air Force (IAF) to be a part of the 17 Squadron at Ambala Air Force Station.

Rising social unrest among the country could stimulate the demand for advanced defense equipment in homeland security. The federal authorities are planning to leverage the capacities of the IT and private engineering & design sector of the country to fulfill national homeland security demands.

The government has undertaken various projects such as border infiltration, counter terrorism, critical infrastructure security, maritime security, police modernization, intelligence and safe city surveillance to enhance the security of the nation.

Taking August 2020 for instance, Hindustan Aerospace Limited (HAL) collaborated with Naini Aerospace Limited, an aerospace component manufacturer in Prayagraj, to deliver looms for HAL’s new fighter jet, Tejas. Naini was previously offering looms for Dhruv helicopters and Tejas Mk-1 jets.

List of the Key Companies that are Operating in the India Aerospace & Defense Market. They are as follows:

Developer & Manufacturer Profiles, ADT LLC, ASSA ABLOY Group, Auto Clear LLC, Axis Communications, BOSCH Security Systems, Brivo Systems, LLC., Fisher Research Laboratory, FLIR Systems, Inc., Frontier Pitts, Ltd., Future Fibre Technologies, G4S PLC, Hitachi Ltd, Honeywell International Inc., Johnson Controls International Plc., L-3 Communications Security & Detection Systems, MilliVision Technologies, Napco Security Technologies, Inc., OSI Systems, Inc., OT-Morpho, RedXDefense LLC, Scanna MSC Ltd., Siemens AG, Schneider Electric, SDMS Security Products UK Ltd., Smiths Detection LLC, Thales Group, Vanderbilt Industries LLC, Victoria Alarm Services Ltd., Westminster Group PLC, Zod Security,

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Table Of Content:

Chapter 4    India Aerospace & Defense Market, By Security

4.1    India aerospace & defense market share, by security, 2016 & 2024

4.2    Aerospace & defense market share by security, 2013 - 2024

4.3    Cyber security

4.3.1    Cyber security market size, 2013 - 2024

4.4    Border security

4.4.1    Border security market size, 2013 - 2024

4.5    Homeland security

4.5.1    Homeland security market size, 2013 - 2024

Chapter 5    India Aerospace & Defense Market, By Service

5.1    India aerospace & defense market share, by service, 2016 & 2024

5.2    Aerospace & defense market share by service, 2013 - 2024

5.3    MRO

5.3.1    MRO services market size, 2013 - 2024

5.4    MTS

5.4.1    MTS services market size, 2013 - 2024

5.5    Logistics

5.5.1    Logistics services market size, 2013 - 2024

Chapter 6    India Aerospace & Defense Market, By Application

6.1    India aerospace & defense market share, by application, 2016 & 2024

6.2    Aerospace & defense market share by application, 2013 - 2024

6.3    Land

6.3.1    Land solutions market size, 2013 - 2024

6.4    Air

6.4.1    Air solutions market size, 2013 - 2024

6.5    Sea

6.5.1    Sea solutions market size, 2013 - 2024

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Ronak Bora    

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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