Indian Aerospace and Defence Industry: A Great Opportunity for Private Players

Are you planning to enter into aerospace and defence manufacturing in India? Are you looking for expert aerospace and defence consultants who can help you with the same?

India has the second-largest armed forces in the world. India is the second-largest arms importer in the world after Saudi Arabia, accounting for 9.5% of global arms imports. India primarily imports military equipment from countries like Russia, Israel, the US, France, etc.

Indian armed forces are the key to not only securing the country borders but also creating the safe environment for investments in the country. The Government of India is planning to spend USD 130 billion towards military up gradation in the coming five years, with emphasis on indigenous manufacturing. This is expected to help India achieve self-reliance in the defence production. The Defence Research and Development Organisation recently identified a list of 108 items which are to be manufactured in India, giving a boost for domestic defence manufacturing industry. The list of items identified for local production includes tank transporters, missile canisters, mini and micro UAVs, mountain footbridge, modular bridge, mines laying and marking equipment, armoured engineering reconnaissance vehicle and anti-terrorist vehicle, missile storage container, marine rocket launcher, navigation radars, satellite navigation receivers, etc. A high-level delegation from DRDO submitted the list of these items to Defence Minister Rajnath Singh. DRDO will provide required support to industries in terms of design, development and testing of these systems. The ministry of Defence also announced ban on the imports of 101 military systems and weapons such as transport aircrafts, light combat helicopters, conventional submarines and cruise missiles to encourage local defence manufacturing industry.

The defence industrial base for DRDO in the country consists of 1800 MSMEs and several other public sector undertakings, Ordnance Factories and large scale industries. The Ministry of Defence has set a goal to achieve a turnover of INR 1.75 Lack Crore in defence manufacturing in the coming five years, which also includes exports of INR 35,000 Crore military equipment by promoting the local defence industrial base. India’s defence production and exports value was INR 80,558 crores and INR 8,320 crores respectively in 2018-2019. The government is expecting to increase the domestic production by two times and exports by four times by encouraging private players in the country to actively take part in local manufacturing.

The government is also working on policy framework to make India one of the top five countries in defence and aerospace in the world with active participation of both private and public players. Given the presence of majority of PSUs in the aerospace and defence manufacturing industry, private players will have a pivotal role to play in helping India become self-reliant in aerospace and defence industries.

With government pushing for the greater role of private players in aerospace and defence manufacturing, this is the right time for entrepreneurs planning to foray into aerospace and defence manufacturing in India. If you are planning to enter into Indian defence and aerospace manufacturing industry and looking for aerospace consultants or defence consultants, then kindly register with SolutionBuggy, India thought leader in the manufacturing industry. SolutionBuggy provides you access to expert aerospace and defence consultants who can help you with your end-to-end requirements in entering into the aerospace and defence manufacturing. Till now, SolutionBuggy has successfully completed more than 150 consulting projects in the field of aerospace and defence.