IMARC Group, a leading market research company, has recently releases report titled “India Defense Market Report by Type (Fixed-Wing Aircraft, Rotorcraft, Ground Vehicles, Naval Vessels, C4ISR, Weapons and Ammunition, Protection and Training Equipment, Unmanned Systems), Armed Forces (Army, Navy, Air Force), and Region 2024-2032”. The India defense market size reached US$ 16.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 28.4 Billion by 2032, exhibiting a growth rate (CAGR) of 6.00% during 2024-2032.
The high focus of government authorities on modernizing the armed forces to address evolving security challenges is one of the factors responsible for the growth of the India defense market. Additionally, the market is fueled by high investments in advanced weaponry, surveillance systems, as well as communication technologies. The "Make in India" program is particularly influential, encouraging domestic production and reducing dependency on imports. This policy fosters collaboration, leading to technology transfer and joint ventures that enhance local defense manufacturing capabilities. Moreover, geopolitical tensions and the need for enhanced border security are compelling India to continuously upgrade its defense infrastructure.
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India Defense Market Trends and Drivers:
Another key trend in the India defense market is the increasing emphasis on indigenous research and development (R&D) and innovation. In addition to this, the government authorities are prioritizing the development of homegrown defense technologies through increased funding for R&D institutions and incentives for private sector participation. This focus is leading to the emergence of cutting-edge defense solutions, such as unmanned aerial vehicles, missile systems, and cyber defense mechanisms, which are acting as another growth-inducing factor.
Furthermore, the growing collaboration between the defense sector and technology startups is also notable, driving the integration of artificial intelligence, machine learning, and robotics into defense applications. In line with this, the expanding defense export opportunities, supported by streamlined regulatory frameworks and export incentives, are positioning India as a significant player globally, which is anticipated to drive the India defense market over the forecasted period.
India Defense Market Segmentation:
Type Insights:
- Fixed-Wing Aircraft
- Rotorcraft
- Ground Vehicles
- Naval Vessels
- C4ISR
- Weapons and Ammunition
- Protection and Training Equipment
- Unmanned Systems
Armed Forces Insights:
- Army
- Navy
- Air Force
Regional Insights:
- North India
- West and Central India
- South India
- East and Northeast India
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Key Highlights of the Report:
• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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