Dublin, Oct. 11, 2024 (GLOBE NEWSWIRE) -- The "India Defense Market - Size and trends, budget allocation, regulations, key acquisitions, competitive landscape and forecast, 2024-2029" report has been added to ResearchAndMarkets.com's offering.
The defense market in India is demonstrating a significant trajectory of growth following a thorough assessment for the period 2024-2029. The comprehensive analysis reveals a consistent rise in the defense budget with an expected compound annual growth rate (CAGR) of 3.7%, subsequently increasing from $77.24 billion in 2025 to $89.35 billion in 2029. This increase is attributed to the country's economic recovery and strategic defense reforms. The commitment to streamline defense expenditures now emphasizes financing advancement in military apparatus while curtailing non-productive costs.
Defense Procurement and Modernization Trends
With increased territorial tensions and the impetus for defense modernization, India is poised to expand its defense capabilities significantly. The allocation for defense acquisition is anticipated to escalate from $20.8 billion in 2025 to $24.2 billion in 2029, marking a CAGR of 3.8%. Current procurement schedules showcase India's focus on sophisticated military technologies including the Project 75 Alpha (Nuclear-Powered Attack Submarine), Rafael M, and the Tejas Mark-1A (LCA Tejas MK-1A) among others.
Military Strategy and Geopolitical Environment
The detailed report extends beyond financial forecasts to scrutinize India's military strategy and the subsequent influence on its defense market. It provides insights into India's security environment, evolving military doctrine, and strategic alliances that reinforce the burgeoning defense budget and expenditures.
Defense Market Dynamics and Entry Regulations
Comprehensive sections of the report delineate the trajectory for entering the thriving defense market in India. Detailed analyses of the procurement policy, market entry strategies, and regulatory landscape have been elaborated to guide market participation and identify lucrative opportunities.
Import-Export Trends and Competitive Analysis
The import-export dynamics of India's defense platforms from 2016 to 2023 are carefully evaluated, illuminating India's position in the global defense trade. Alongside, the competitive landscape is mapped out through in-depth profiles of the leading defense companies operating within the market, highlighting their strategic initiatives and financial potency.
In summary, the comprehensive analysis of India's defense market forecasts a significant inflow of investments aimed at enhancing national security and modernizing military capabilities, with clear indications of beneficial opportunities for industry participants. The projected increase in defense budget and expenditure underscores the importance of strategic reforms and the prioritization of advanced technology procurements, thereby shaping the future landscape of India’s defense industry.
Leading Companies In India's Defense Industry Include
- Hindustan Aeronautics Ltd (HAL)
- Dassault Aviation SA
- Mazagon Dock Shipbuilders Ltd
For more information about this report visit https://www.researchandmarkets.com/r/n4yy1l
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