INDIA'S DEFENCE TECH STARS TO WATCH: MASSIVE OPPORTUNITY ACROSS MARKET CAPS
Aerospace & Defence Manufacturing
- Hindustan Aeronautics Ltd (HAL)
- Bharat Electronics Ltd (BEL)
- Bharat Dynamics Ltd (BDL)
- Mazagon Dock Shipbuilders Ltd (MDL)
- Cochin Shipyard Ltd
- Solar Industries India Ltd
- MTAR Technologies
Defence Electronics & Systems
- Data Patterns (India) Ltd
- Paras Defence and Space Technologies Ltd
- Astra Microwave Products Ltd
- Centum Electronics
- Electronics Corporation of India Ltd (ECIL)
- Unimech Aerospace and Manufacturing Ltd
- Zen Technologies
Land Systems & Vehicle Components
- Bharat Forge
- Ashok Leyland
- Mahindra & Mahindra
- Larsen & Toubro (L&T)
- Tata Motors
Naval & Shipbuilding
- Garden Reach Shipbuilders & Engineers (GRSE)
- Hindustan Shipyard Ltd
Missiles & Strategic Weapons
- Bharat Dynamics Ltd
- Astra Microwave Products Ltd
Drone & UAV Technologies
- ideaForge Technologies
- Asteria Aerospace
- Big Bang Boom Solutions
Defence Services & Others
- Apollo Micro Systems
- Avantel
- AxisCades Technologies
Key Policy Tailwinds Driving Growth
- Defence Procurement Manual 2025: Simplifies procurement, boosts private sector and startup participation, accelerates indigenous production.
- Defence Acquisition Procedure (DAP): Prioritizes Make in India initiatives with incentives for indigenous R&D and exports.
- iDEX Program: Provides financial support and incubation for defence tech startups and MSMEs.
- Defence Industrial Corridors: Infrastructure and incentives in Uttar Pradesh and Tamil Nadu to promote defence manufacturing investments.
- Increased Budget: ₹6.81 Lakh Crore allocated for defence in FY 2025-26, emphasizing modernization.
- FDI Reforms: Allows up to 74% FDI via automatic route, facilitating joint ventures and foreign collaborations.
- Technology Focus: Emphasis on AI, cybersecurity, unmanned systems, robotics, and missile technology innovation.
These companies and policy developments present strategic investment opportunities aligned with India's growing focus on self-reliance and modernization in the defence sector.
