TechSci Press Release

Defense industry is one of the most important sectors in any country. India is among the world’s top five countries based on spending on defense. The defense budget announced for the year 2020-2021 in India is around USD65.86 billion, which is around 15.5 % of the central government’s budget and 2.1% of the country’s estimated GDP. India defense equipment market  is expected to grow at an impressive rate during the forecast period. The India defense equipment market is driven by the increasing focus towards modernization, technological upgradation, while maintaining the homeland security. Additionally, supportive government policies such as the ‘’Make in India concept and Defense Procurement Procedure (DPP) are promoting indigenization, self-sufficiency and development & production of defense equipment. This has also increased the role of MSMEs in defense industry, which in turn is expected to positively influence the market growth through 2025. Furthermore, the entrance of for...

Increasing technological advancements across the defense industry  to drive India defense equipment market. According to TechSci Research report,  “ India Defense Equipment Market  By Armed Forces (Air Force, Army, Navy), By Region, Forecast & Opportunities, 2025 ” , the India defense equipment market is expected to grow at an impressive rate during the forecast period on account of the increasing security concerns and increasing expenditure by the government on R&D activities in defense sector. Additionally, increasing terrorist activities, infiltration, among others has increased the need for border security, maritime security, police force modernization, among others. This in turn is expected to create lucrative opportunities for the market growth through 2025. Furthermore, growing investment by the country on UAVs, submarines, multirole aircraft, frigates, destroyers, corvettes, weapons & ammunition is expected to fuel the market growth over the next few y...