Key Market Indicators
Indian Defense Expenditure is projected to soar to approximately $103 billion by 2028, up from around $85 billion in 2023, representing an annual growth rate of 3%. Since 1965, India's defense spending has consistently increased, with an average annual growth rate of 5.1%. In 2023, India ranked as the world's fourth-largest defense spender. Russia narrowly edged ahead with a similar expenditure of $85 billion. China, Russia, and India occupied the second, third, and fourth positions, respectively, in the global defense spending rankings.
Latest reports
India Defense Market Report- Q1 2025
The first quarter of 2025 has been transformative for the Defense India landscape, driven by strategic partnerships, technological advancements, and significant investments aimed...
India Defense Market Report- Q4 2024
In the fourth quarter of 2024, the Indian defense sector experienced significant advancements across various segments, reflecting strategic priorities to enhance national security...
India Defense Market Report - Q4 2024
The fourth quarter of 2024 marked a significant period for the defense sector in India, characterized by a strategic focus on indigenization, modernization...
