Trusted Business Insights presents the Updated and Latest Study on India Aerospace & Defense Market 2019-2025. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Abstract, Snapshot, Market Analysis & Market Definition: India Aerospace & Defense Market
Industry / Sector Trends
India Aerospace & Defense Market size was over USD 10 billion in 2016 and is predicted to grow at an estimated CAGR of over 5% from 2017 to 2024.
India aerospace & defense market size, by air solution, 2016 & 2024 (USD Million)
Initiatives undertaken by the government to make India self-reliant in terms of defense requirements is expected to drive the India aerospace & defense market over the forecast timeline. The countrys attractiveness to the global companies is increasing, owing to the increasing defense budget. For instance, according to a report by Nasscom and IESA, the total India aerospace & defense market opportunity for aerospace and defense electronics is estimated to be approximately USD 70 billion in next 10 years. Growing need to modernize the equipment is expected to further drive the industry.
The government announced the Long Term Integrated Perspective Plan, that undertakes the modernization of armed forces by 2027. Factors such as hostile neighborhood and unrest in North-East India & Kashmir are driving the modernization agenda, thus propelling the India aerospace & defense market growth. The industry has witnessed growing focus on the development of high-end technology and reduced reliance on exports.
Market Segmentation, Outlook & Regional Insights: India Aerospace & Defense Market
India Aerospace & Defense Market, By Application
Air application is expected to hold a majority share in the India aerospace & defense market, owing to the growing demand for efficient and environmentally friendly aircrafts. Need to increase the size of aircraft fleet with additions of auxiliary airplanes such as rescue aircrafts, medic aircraft, repair & emergency aircrafts are expected to propel the growth. The government is introducing various methods and newer technologies for air traffic management and adhere to strict environmental & air traffic regulations. This is expected to attract several global players such as Boeing in the industry.
Land security solutions are expected to witness substantial demand in the India aerospace & defense market, owing to the increasing need from the domestic/homeland and border security. Increasing volatility in domestic peace and increasing government initiatives is encouraging the players to expand their capabilities and extend their product portfolio.
India Aerospace & Defense Market, By Security
Cybersecurity is expected to witness rapid growth owing to the rising instances of cyber-attacks such as Wanna Cry, life-threatening software such as Blue Whale, and malicious data thefts. Growing demand for safeguarding cyber networks and the countrys data infrastructure is fueling the cybersecurity market demand. The number of providers is expected to rise during the forecast timeline, with increasing investments from various global players such as Thales Group.
The border security segment is expected to grow remarkably in the coming years, due to increasing threats from neighboring countries. The demand for optical and radar equipment is on the rise to better equip the soldiers on the borders.
India Aerospace & Defense Market, By Service
The MTS services segment is expected to gain traction in the India aerospace & defense market, owing to increasing need to cut the costs and outsource these services to the third-party players. Growth in demand of extended battery life for products and increasing replacement cycles to enhance efficiency is anticipated to be one of the major factor for the increasing demand for MRO services.
The MRO services are expected to witness fast growth, owing to the increase in demand for repair operations for the equipment in the industry. The aero-platform MROs are expected to grow at highest rate, owing to the extended life of aircraft, their subjection to harsh environments, and need for frequent repair operations.
Key Players, Recent Developments & Sector Viewpoints: India Aerospace & Defense Market
Prominent players in the India aerospace & defense market include Bharat Forge, companies in Ordinance Factory Board, Bharat Electronics Limited, Bharat Dynamics Limited, Mahindra, Reliance Defense, Tata Power Strategic Engineering Division, and Tata Advanced Systems Limited. In addition to domestic players, global players participating in the market include Northrop Grumman Corporation, Thales Group, Lockheed Martin Corporation, Honeywell international, Inc., and BAE Systems. The increasing FDI and the offset policy introduced by the government is attracting many global players in the country. These players are forming joint ventures with Indian counterparts to gain share.
India Aerospace & Defense Industry Viewpoint
As of 2015, India was the sixth largest importer of arms, primarily from countries such as Russia, France, and the U.S. Increasing government initiatives such as Make in India or Buy from India is expected to encourage the domestic manufacturers to enter the industry to reduce exports and increase imports of these equipment. Introduction of offset policy enabled the component manufacturers to enter the India aerospace & defense market. Traditionally, the country had the presence of only Tier III and Tier II component suppliers. However, with the growth in favorable business environment, the number of Tier I suppliers and manufacturers & system integrators is expected to grow significantly over the forecast timeframe
What are the Key Insights Covered: Exhaustive India Aerospace & Defense Market
1. Market size (sales, revenue and growth rate) of India Aerospace & Defense industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of India Aerospace & Defense industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of India Aerospace & Defense industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of India Aerospace & Defense industry.
What is the Research Methodology used: India Aerospace & Defense Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.
Quick Read Table of Contents of this Report @ WorldWide India Aerospace & Defense Market, Industry / Sector Analysis Report, Regional Outlook & Competitive Market Share & Forecast, 2019 – 2025
This post was originally published on Downey Magazine