India Aerospace and Defense Industry to surpass $23bn by 2024

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Aerospace and Defense Market in India to hit
23bn by 2024
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Key Insights from Aerospace and Defense Market

• India Aerospace Defense Market size is set to
  exceed USD 23 billion by 2024 according to a new
  research report by Global Market Insights, Inc.
  India aerospace defense market is expected to
  grow at a significant pace owing to growing need
  for the modernization of Indian armed forces. The
  modernization drive aims to leverage advanced
  military technology to improve the operational
  capabilities. Need for improvement in areas such
  as battlefield support systems, situational
  awareness, non-lethal weapons, and artificial
  intelligence is expected to drive the India
  aerospace defense market over the next seven
  years.
• The government is increasing defense budget and
  has undertaken several projects in line with the
  Make in India campaign. For instance, as a part
  of Infantry Vision 2020, the government has
  started Future Infantry Soldier as a System
  (F-INSAS) program to enhance the optical,
  electro, and situational capabilities of a
  soldier. Increasing investments in research
  fields including nanotechnology, directed energy
  weapons, and NBC warfare are anticipated to fuel
  the India aerospace defense market growth. The
  manufacturers are shifting their focus to this
  industry, owing to the initiatives taken by the
  government such as Offset policy. However, very
  slow and time-consuming tender processes may
  hinder the entry of private players.

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Continued...

• India aerospace defense market for marine
  applications is expected to grow at a steady
  pace, owing to the plans of the government to
  build 200-ship navy over the duration of 10
  years. Increasing interest of the Peoples
  Liberation Army Navy of China in the Indian Ocean
  is encouraging the country to invest more in
  anti-submarine ship manufacture. In September
  2017, India deployed a submarine, two navy ships,
  and two long range maritime reconnaissance
  aircrafts in southern Indian Ocean and western
  Arabian Sea.
• India Homeland security is expected to witness
  significant growth owing to the increasing
  internal unrest and terrorist threat. The
  budgetary allocation for the Ministry of Home
  Affairs is expected to reach about USD 20 billion
  by 2017-18. The recent violence in Punjab and
  Haryana states over the arrest of the Dera chief
  has thrown light on equipping internal security
  personnel with high quality equipment. Initiative
  such as Safe City will propel the homeland
  security in the country by leveraging technology
  to reduce crime rates. Increasing focus on
  terrorism prevention management, police
  modernization, critical infrastructure
  protection, and city surveillance intelligence
  are expected to propel India aerospace defense
  market growth.

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Latest Research Report On India Aerospace and
Defense Market _at_ https//www.gminsights.com/press
release/india-aerospace-defense-market Request
for a sample of this research report
_at_ https//www.gminsights.com/request-sample/detail
/2113
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India aerospace defense market size, by air
solution, 2016 2024 (USD Million)

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Major Companies in India Aerospace and Defense
Market

• Reliance Defence
• Tata Advanced Systems Limited
• Defence Research Development Organization
• ISRO, Bharat Earthmovers Limited
• Bharat Dynamics Limited
• Hindustan Aeronautics Limited
• Mahindra Group
• Hindustan Aeronautics Limited,

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Industry Coverage

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