The sector is experiencing positive momentum due to several factors: heightened emphasis on indigenisation and "Atmanirbhar Bharat" initiatives, increased defence budget allocations, escalating geopolitical tensions, an expanding indigenisation list, the potential for defence exports, and investments in advanced technologies such as AI and robotics.
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Nirmal Bang Report
The annual defence output has exceeded Rs 1.27 trillion and is projected to attain Rs 1.75 trillion by FY25. India aims to achieve Rs 3 trillion in defence output by 2029, thereby reinforcing its position as a prominent global defence manufacturing centre.
The total number of contracts signed by the Ministry of Defence during 2024-25 reached 193 with overall contract value exceeding Rs 2.1 trillion which is the highest ever and nearly double the previous highest figure. Out of these, the contracts to domestic industry are 177(92%) with contract value Rs 1.6 trillion (81%).
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