India Aerospace & Defense Market Size By Security (Cybersecurity, Homeland Security, Border Security), By Service (Maintenance, Repair & Operations (MRO), Modeling, Training & Simulation (MTS), Logistics), By Application (Land [Small Arms, Tanks, Armored Fighting Vehicles, Artillery, Mine Warfare, Communication Equipment], Air [Aircraft, Helicopters, Missiles, Amphibious Warfare, Communication Equ
Published on: 2024-07-07 | No of Pages : 240 | Industry : Aerospace
Publisher : MRA | Format : PDF&Excel
India Aerospace & Defense Market Size By Security (Cybersecurity, Homeland Security, Border Security), By Service (Maintenance, Repair & Operations (MRO), Modeling, Training & Simulation (MTS), Logistics), By Application (Land [Small Arms, Tanks, Armored Fighting Vehicles, Artillery, Mine Warfare, Communication Equipment], Air [Aircraft, Helicopters, Missiles, Amphibious Warfare, Communication Equ
India Aerospace & Defense Market Size By Security (Cybersecurity, Homeland Security, Border Security), By Service (Maintenance, Repair & Operations (MRO), Modeling, Training & Simulation (MTS), Logistics), By Application (Land [Small Arms, Tanks, Armored Fighting Vehicles, Artillery, Mine Warfare, Communication Equipment], Air [Aircraft, Helicopters, Missiles, Amphibious Warfare, Communication Equ
India Aerospace & Defense Market Size
India Aerospace & Defense Market size was over USD 10 billion in 2016 and is predicted to grow at an estimated CAGR of over 5% from 2017 to 2024.
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Initiatives undertaken by the government to make India self-reliant in terms of defense requirements is expected to drive the India aerospace & defense market over the forecast timeline. The country’s attractiveness to the global companies is increasing, owing to the increasing defense budget. For instance, according to a report by Nasscom and IESA, the total India aerospace & defense market opportunity for aerospace and defense electronics is estimated to be approximately USD 70 billion in next 10 years. Growing need to modernize the equipment is expected to further drive the industry.
The government announced the Long Term Integrated Perspective Plan, that undertakes the modernization of armed forces by 2027. Factors such as hostile neighborhood and unrest in North-East India & Kashmir are driving the modernization agenda, thus propelling the India aerospace & defense market growth. The industry has witnessed growing focus on the development of high-end technology and reduced reliance on exports.
| Report Attribute | Details |
|---|---|
| Base Year | 2016 |
| India Aerospace & Defense Market Size in 2016 | 10 Billion (USD) |
| Forecast Period | 2017 to 2024 |
| Forecast Period 2017 to 2024 CAGR | 5% |
| 2024 Value Projection | 23 Billion (USD) |
| Historical Data for | 2013 to 2016 |
| No. of Pages | 154 |
| Tables, Charts & Figures | 73 |
| Segments covered | Security, Service, Application and Region |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
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India Aerospace & Defense Market Analysis
Air application is expected to hold a majority share in the India aerospace & defense market, owing to the growing demand for efficient and environmentally friendly aircrafts. Need to increase the size of aircraft fleet with additions of auxiliary airplanes such as rescue aircrafts, medic aircraft, repair & emergency aircrafts are expected to propel the growth. The government is introducing various methods and newer technologies for air traffic management and adhere to strict environmental & air traffic regulations. This is expected to attract several global players such as Boeing in the industry.
Land security solutions are expected to witness substantial demand in the India aerospace & defense market, owing to the increasing need from the domestic/homeland and border security. Increasing volatility in domestic peace and increasing government initiatives is encouraging the players to expand their capabilities and extend their product portfolio.
Cybersecurity is expected to witness rapid growth owing to the rising instances of cyber-attacks such as Wanna Cry, life-threatening software such as Blue Whale, and malicious data thefts. Growing demand for safeguarding cyber networks and the country’s data infrastructure is fueling the cybersecurity market demand. The number of providers is expected to rise during the forecast timeline, with increasing investments from various global players such as Thales Group.
The border security segment is expected to grow remarkably in the coming years, due to increasing threats from neighboring countries. The demand for optical and radar equipment is on the rise to better equip the soldiers on the borders.
The MTS services segment is expected to gain traction in the India aerospace & defense market, owing to increasing need to cut the costs and outsource these services to the third-party players. Growth in demand of extended battery life for products and increasing replacement cycles to enhance efficiency is anticipated to be one of the major factor for the increasing demand for MRO services.
The MRO services are expected to witness fast growth, owing to the increase in demand for repair operations for the equipment in the industry. The aero-platform MROs are expected to grow at highest rate, owing to the extended life of aircraft, their subjection to harsh environments, and need for frequent repair operations.
India Aerospace & Defense Market Share
Prominent players in the India aerospace & defense market include
- Bharat Forge companies in Ordinance Factory Board
- Bharat Electronics Limited
- Bharat Dynamics Limited
- Mahindra
- Reliance Defense
- Tata Power Strategic Engineering Division
- Tata Advanced Systems Limited
In addition to domestic players, global players participating in the market include
- Northrop Grumman Corporation
- Thales Group
- Lockheed Martin Corporation
- Honeywell international, Inc
- BAE Systems.
The increasing FDI and the offset policy introduced by the government is attracting many global players in the country. These players are forming joint ventures with Indian counterparts to gain share.
India Aerospace & Defense Industry Background
As of 2015, India was the sixth largest importer of arms, primarily from countries such as Russia, France, and the U.S. Increasing government initiatives such as Make in India or Buy from India is expected to encourage the domestic manufacturers to enter the industry to reduce exports and increase imports of these equipment. Introduction of offset policy enabled the component manufacturers to enter the India aerospace & defense market. Traditionally, the country had the presence of only Tier III and Tier II component suppliers. However, with the growth in favorable business environment, the number of Tier I suppliers and manufacturers & system integrators is expected to grow significantly over the forecast timeframe.
Table of Content
Report Content
Chapter 1 Methodology & Scope
1.1 Methodology
1.1.1 Initial data exploration
1.1.2 Statistical model and forecast
1.1.3 Industry insights and validation
1.1.4 Definition and forecast parameters
1.2 Data Sources
1.2.1 Secondary
1.2.2 Primary
Chapter 2 Executive Summary
2.1 India aerospace & defense industry 3600 synopsis, 2013 – 2024
2.1.1 Business trends
2.1.2 Security trends
2.1.3 Service trends
2.1.4 Application trends
Chapter 3 India Aerospace & Defense Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2013 - 2024
3.3 Industry ecosystem analysis
3.4 Technological and innovation landscape
3.4.1 Electronic miniaturization
3.4.2 Defensive systems in satellites
3.4.3 Artificial intelligence
3.4.4 Light-weight armor systems
3.4.5 Wearable sensors
3.4.6 UAVs
3.4.7 Smart missiles
3.5 Make in India Drive
3.5.1 FDI policy
3.5.2 Tax and R&D incentives
3.6 India spending on aerospace and defense
3.7 Regulatory landscape
3.8 Industry impact forces
3.8.1 Growth drivers
3.8.1.1 Modernization of armed forces
3.8.1.2 Offsets requirement by the government
3.8.1.3 Indigenous manufacturing of defense equipment
3.8.1.4 Competitive personnel costs
3.8.1.5 High production capabilities
3.8.2 Industry pitfalls and challenges
3.8.2.1 Lack of high-end technology
3.8.2.2 Time consuming and slow tender process
3.9 Growth potential analysis
3.10 Porter’s analysis
3.11 Competitive landscape, 2016
3.11.1 Strategy dashboard
3.12 PESTEL Analysis
3.13 India aerospace & defense spending landscape
3.13.1 Current & upcoming programs/projects
3.13.1.1 Engines and weapons integration in small helicopters
3.13.1.2 HTT-40 BTA Programme
3.13.1.3 PSLV-C37/Cartosat-2 Series Satellite Mission
3.13.1.4 Rustom-II UAV project
3.13.1.5 Manufacturing of defense aircrafts and helicopters
3.13.1.6 Mine Counter Measure Vessel (MCMV) project
3.13.1.7 Future Infantry Combat Vehicle (FICV) Programme
3.13.1.8 Aeronautics
3.13.1.9 Unmanned Aerial Vehicle
3.13.1.10 Artillery Systems
3.13.1.11 Tanks & armaments
3.13.1.12 Electronics and computer science
3.13.1.13 LASTEC
3.13.1.14 Torpedoes
3.13.2 Key companies involved
3.13.3 Total spending on CAPEX 2014 – 2017
3.13.4 Total spending on CAPEX 2018 – 2020
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
Chapter 7 Company Profiles
7.1 Bharat Forge
7.1.1 Business Overview
7.1.2 Financial Data
7.1.3 Product Landscape
7.1.4 Strategic Outlook
7.1.5 SWOT Analysis
7.2 BAE Systems
7.2.1 Business Overview
7.2.2 Financial Data
7.2.3 Product Landscape
7.2.4 Strategic Outlook
7.2.5 SWOT Analysis
7.3 Bharat Dynamics Limited (BDL)
7.3.1 Business Overview
7.3.2 Financial Data
7.3.3 Product Landscape
7.3.4 SWOT Analysis
7.4 Bharat Earth Movers Limited (BEML Limited)
7.4.1 Business Overview
7.4.2 Financial Data
7.4.3 Product Landscape
7.4.4 SWOT Analysis
7.5 Bharat Electronics Limited (BEL)
7.5.1 Business Overview
7.5.2 Financial Data
7.5.2.1 Revenue, 2014 – 2020
7.5.2.2 Annual growth rate, 2015 – 2017
7.5.2.3 Annual growth rate, 2018 – 2020
7.5.2.4 CAPEX spending, 2014 – 2020
7.5.3 Product Landscape
7.5.4 SWOT Analysis
7.6 Defence Research Development Organization (DRDO)
7.6.1 Business Overview
7.6.2 Financial Data
7.6.2.1 Revenue, 2014 – 2020
7.6.2.2 Annual growth rate, 2015 – 2017
7.6.2.3 Annual growth rate, 2018 – 2020
7.6.2.4 CAPEX spending, 2014 – 2020
7.6.3 Product Landscape
7.6.4 SWOT Analysis
7.7 Godrej Group
7.7.1 Business Overview
7.7.2 Financial Data
7.7.2.1 Revenue, 2014 – 2020
7.7.2.2 Annual growth rate, 2015 – 2017
7.7.2.3 Annual growth rate, 2018 – 2020
7.7.2.4 CAPEX spending, 2014 – 2020
7.7.3 Product Landscape
7.7.4 Strategic Outlook
7.7.5 SWOT Analysis
7.8 Hindustan Aeronautics Limited (HAL)
7.8.1 Business Overview
7.8.2 Financial Data
7.8.2.1 Revenue, 2014 – 2020
7.8.2.2 Annual growth rate, 2015 – 2017
7.8.2.3 Annual growth rate, 2018 – 2020
7.8.2.4 CAPEX spending, 2014 – 2020
7.8.3 Product Landscape
7.8.4 Strategic Outlook
7.8.5 SWOT Analysis
7.9 Honeywell International Inc.
7.9.1 Business Overview
7.9.2 Financial Data
7.9.3 Product Landscape
7.9.4 Strategic Outlook
7.9.5 SWOT Analysis
7.10 L-3 Communications Holdings
7.10.1 Business Overview
7.10.2 Financial Data
7.10.3 Product Landscape
7.10.4 Strategic Outlook
7.10.5 SWOT Analysis
7.11 Indian Space Research Organization (ISRO)
7.11.1 Business Overview
7.11.2 Financial Data
7.11.2.1 Revenue, 2014 – 2020
7.11.2.2 Annual growth rate, 2015 – 2017
7.11.2.3 Annual growth rate, 2018 – 2020
7.11.2.4 CAPEX spending, 2014 – 2020
7.11.3 Product Landscape
7.11.4 SWOT Analysis
7.12 Larsen and Toubro Limited
7.12.1 Business Overview
7.12.2 Financial Data
7.12.2.1 Revenue, 2014 – 2020
7.12.2.2 Annual growth rate, 2015 – 2017
7.12.2.3 Annual growth rate, 2018 – 2020
7.12.2.4 CAPEX spending, 2014 – 2020
7.12.3 Product Landscape
7.12.4 Strategic Outlook
7.12.5 SWOT Analysis
7.13 Lockheed Martin Corporation
7.13.1 Business Overview
7.13.2 Financial Data
7.13.3 Product Landscape
7.13.4 Strategic Outlook
7.13.5 SWOT Analysis
7.14 Mishra Dhatu Nigam Limited (Midhani)
7.14.1 Business Overview
7.14.2 Financial Data
7.14.2.1 Revenue, 2014 – 2020
7.14.2.2 Annual growth rate, 2015 – 2017
7.14.2.3 Annual growth rate, 2018 – 2020
7.14.2.4 CAPEX spending, 2014 – 2020
7.14.3 Product Landscape
7.14.4 Strategic Outlook
7.14.5 SWOT Analysis
7.15 Mahindra
7.15.1 Business Overview
7.15.2 Financial Data
7.15.2.1 Revenue, 2014 - 2020
7.15.2.1 Growth rate, 2015 – 2017
7.15.2.2 Business outlook, 2018 – 2020
7.15.2.3 CAPEX spending, 2014 – 2020
7.15.3 Product Landscape
7.15.4 SWOT Analysis
7.16 Northrop Grumman Corporation
7.16.1 Business Overview
7.16.2 Financial Data
7.16.3 Product Landscape
7.16.4 Strategic Outlook
7.16.5 SWOT Analysis
7.17 Ordnance Factory Board (OFB)
7.17.1 Business Overview
7.17.2 Financial Data
7.17.2.1 Revenue, 2014 - 2020
7.17.2.2 Growth rate, 2015 – 2017
7.17.2.3 Business outlook, 2018 – 2020
7.17.2.4 CAPEX spending, 2014 – 2020
7.17.3 Product Landscape
7.17.4 SWOT Analysis
7.18 Raytheon Company
7.18.1 Business Overview
7.18.2 Financial Data
7.18.3 Product Landscape
7.18.4 Strategic Outlook
7.18.5 SWOT Analysis
7.19 Reliance Defence & Engineering Ltd.
7.19.1 Business Overview
7.19.2 Financial Data
7.19.2.1 Revenue, 2014 - 2020
7.19.2.2 Growth rate, 2015 – 2017
7.19.2.3 Business outlook, 2018 – 2020
7.19.2.4 CAPEX spending, 2014 – 2020
7.19.3 Product Landscape
7.19.4 Strategic Outlook
7.19.5 SWOT Analysis
7.20 Tata Advanced Systems Limited
7.20.1 Business Overview
7.20.2 Financial Data
7.20.2.1 Revenue, 2014 - 2020
7.20.2.2 Growth rate, 2015 – 2017
7.20.2.3 Business outlook, 2018 – 2020
7.20.2.4 CAPEX spending, 2014 – 2020
7.20.3 Product Landscape
7.20.4 Strategic Outlook
7.20.5 SWOT Analysis
7.21 Tata Power SED
7.21.1 Business Overview
7.21.2 Financial Data
7.21.2.1 Revenue, 2014 - 2020
7.21.2.2 Growth rate, 2015 – 2017
7.21.2.3 Business outlook, 2018 – 2020
7.21.2.4 CAPEX spending, 2014 – 2020
7.21.3 Product Landscape
7.21.4 SWOT Analysis
7.22 Thales Group
7.22.1 Business Overview
7.22.2 Financial Data
7.22.3 Product Landscape
7.22.4 Strategic Outlook
7.22.5 SWOT Analysis