Market Size of India Aviation, Defense, And Space Industry
| Study Period | 2019-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 10.34 Billion |
| Market Size (2029) | USD 11.74 Billion |
| CAGR (2024 - 2029) | 2.59 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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India Aviation, Defense, And Space Market Analysis
The India Aviation, Defense, And Space Market size is estimated at USD 10.34 billion in 2024, and is expected to reach USD 11.74 billion by 2029, growing at a CAGR of 2.59% during the forecast period (2024-2029).
- The India aviation, defense, and space market is projected to witness significant growth during the forecast period. Growth in a number of commercial aviation operations coupled with the growing acquisition of commercial aircraft to meet the needs of air passengers and growth in a number of commercial airport constructions is anticipated to bolster the growth of the market during the forecast period.
- Moreover, growth in the defense budget of the country coupled with the growing acquisition of advanced armaments in order to improve the defense capabilities of the country and growth in a number of space programs coupled with increasing governmental support for indigenous defense manufacturing is expected to lead to the market witnessing growth in the coming years.
- On the other hand, growth in regulations within the country will lead to hampering the market growth in the long run. Furthermore, making use of advanced technologies such as artificial intelligence for airport construction and design, military training, surveillance, and improving accuracy for space missions, amongst others, will lead to growth in various opportunities in the market, thereby leading the market to witness significant growth during the forecast period.
