Market Size of India Aviation, Defense, And Space Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 18.72 Billion |
| Market Size (2029) | USD 24.87 Billion |
| CAGR (2024 - 2029) | 5.84 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
India Aviation, Defense, and Space Market Analysis
The India Aviation, Defense, And Space Market size is estimated at USD 18.72 billion in 2024, and is expected to reach USD 24.87 billion by 2029, growing at a CAGR of 5.84% during the forecast period (2024-2029).
The growing acquisition of commercial aircraft to meet the needs of air passengers, increasing commercial aviation operations, and the growth in the number of commercial airport constructions are anticipated to drive the market during the forecast period. In addition, the growth in India’s defense budget, increasing acquisition of advanced armaments to improve the country's defense capabilities, growth in the number of space programs, and increasing governmental support for indigenous defense manufacturing are expected to boost the market in the coming years.
On the other hand, growth in regulations within the country is expected to hamper the market’s growth in the long run. Furthermore, the growing use of advanced technologies such as artificial intelligence for airport construction and design, military training, surveillance, and improving accuracy for space missions, amongst others, is anticipated to lead to growth in various market opportunities.
India Aviation, Defense, and Space Industry Segmentation
The Indian aviation, defense, and space market comprises the entire aviation, defense, and space industry in India.
The market is segmented by air force, army, navy, space, and civil aviation. By air force, the market is segmented into combat and non-combat aircraft (fixed wing and helicopter) and UAVs, weapons and munitions, and MRO. By army, the market is segmented into armored vehicles, helicopters, UAVs, weapons and munitions, and MRO. By navy, the market is segmented into naval vessels, combat and non-combat aircraft, UAVs, weapons and ammunition, and MROs. By space, the market is divided into satellite and launch vehicles & rovers. By civil aviation, the market is segmented into commercial aircraft, business jets, and MROs. For each segment, the market size is provided in terms of value (USD).
| By Air Force | |
| Combat and Non-combat Aircraft (Fixed Wing and Helicopter) and UAVs | |
| Weapons and Munitions | |
| MRO |
| By Army | |
| Armored Vehicles, Helicopters, and UAVs | |
| Weapons and Munitions | |
| MRO |
| By Navy | |
| Naval Vessels, Combat and Non-combat Aircraft, and UAVs | |
| Weapons and Munitions | |
| MRO |
| By Space | |
| Satellite | |
| Launch Vehicles and Rovers |
| By Civil Aviation | |
| Commercial Aircraft | |
| Business Jet | |
| MRO |
India Aviation, Defense, And Space Market Size Summary
The Indian aviation, defense, and space market is poised for significant growth, driven by increasing demand for commercial aircraft and the expansion of aviation operations. The sector's growth is further supported by the construction of new airports to accommodate the rising number of air passengers. In the defense arena, India's heightened defense budget and focus on acquiring advanced weaponry are key factors propelling market expansion. The country's ambition to become a global manufacturing hub for advanced artillery ammunition and the emphasis on indigenous defense manufacturing are also contributing to this growth trajectory. Additionally, the integration of advanced technologies like artificial intelligence in various sectors presents new market opportunities, despite potential regulatory challenges.
The market landscape is characterized by a fragmented structure with major players such as Hindustan Aeronautics Limited, Bharat Electronics Limited, and the Indian Space Research Organisation leading the charge. These entities are increasingly engaging in joint ventures with the Indian government to enhance defense capabilities and strengthen their market presence. The collaboration in sectors like jet propulsion systems and the production of indigenous weapons and space components is expected to drive substantial growth. The Indian government's strategic procurement initiatives, including significant acquisitions of combat aircraft and helicopters, further underscore the commitment to bolstering the domestic defense industry, thereby reinforcing the market's growth potential.
India Aviation, Defense, And Space Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Buyers/Consumers
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1.4.2 Bargaining Power of Suppliers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Air Force
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2.1.1 Combat and Non-combat Aircraft (Fixed Wing and Helicopter) and UAVs
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2.1.2 Weapons and Munitions
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2.1.3 MRO
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2.2 By Army
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2.2.1 Armored Vehicles, Helicopters, and UAVs
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2.2.2 Weapons and Munitions
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2.2.3 MRO
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2.3 By Navy
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2.3.1 Naval Vessels, Combat and Non-combat Aircraft, and UAVs
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2.3.2 Weapons and Munitions
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2.3.3 MRO
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2.4 By Space
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2.4.1 Satellite
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2.4.2 Launch Vehicles and Rovers
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2.5 By Civil Aviation
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2.5.1 Commercial Aircraft
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2.5.2 Business Jet
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2.5.3 MRO
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India Aviation, Defense, And Space Market Size FAQs
How big is the India Aviation, Defense, And Space Market?
The India Aviation, Defense, And Space Market size is expected to reach USD 18.72 billion in 2024 and grow at a CAGR of 5.84% to reach USD 24.87 billion by 2029.
What is the current India Aviation, Defense, And Space Market size?
In 2024, the India Aviation, Defense, And Space Market size is expected to reach USD 18.72 billion.
