India's Aerospace Market to Double to $54 Billion by 2033, Featuring 10 Key Stocks
India's aerospace market is projected to grow from $27 billion in 2024 to $54 billion by 2033, driven by initiatives like Make-in-India, defence indigenisation, and increasing exports. Key companies including MTAR Technologies, Bharat Dynamics, Data Patterns, Astra Microwave, Zen Technologies, Paras Defence, Bharat Electronics Ltd, HAL, DCX Systems, and Apollo Micro Systems are positioned to benefit from this expansion and the development of a robust aerospace supply chain ecosystem.
The Indian aerospace sector is on a strong growth trajectory, expected to nearly double in size from $27 billion in 2024 to over $54 billion by 2033. This growth is propelled by government policies such as Make-in-India and defence indigenisation, alongside increasing exports and technological advancements. MTAR Technologies has transitioned from precision engineering to become a critical supplier across space, nuclear, defence, and aerospace sectors. Bharat Dynamics focuses on missile and weapon systems for the armed forces, while Data Patterns provides mission-critical avionics and satellite electronics with ties to ISRO, DRDO, and HAL. Astra Microwave designs radar and communication systems vital for defence and civil aviation. Zen Technologies leads in defence simulation and training systems, supported by positive analyst ratings. Paras Defence produces critical optoelectronic components, aiding space and defence projects.Bharat Electronics Ltd remains the largest defence electronics manufacturer, supplying avionics, radar, and electronic warfare systems. HAL is central to aircraft manufacturing and is partnering on next-generation platforms. DCX Systems and Apollo Micro Systems provide aerospace cabling and embedded electronic solutions, respectively. Across this ecosystem, companies are well poised to capitalize on the anticipated market doubling, fostering a powerful indigenous aerospace supply chain, supported by technological innovation and increasing demand for aerospace products and systems in India.
