The global defense industry landscape is shifting, with India marking its growing presence. According to the latest SIPRI report on the top 100 arms-producing companies worldwide, three Indian firms have been recognized for their contributions to the global arms market. This inclusion highlights the nation’s commitment to self-reliance and indigenous defense production through programs like ‘Atmanirbhar Bharat’.
Hindustan Aeronautics Limited (HAL), the manufacturer of the indigenously developed Tejas fighter jet, is ranked 44th in the global list. Bharat Electronics Limited (BEL), a specialist in advanced radar and electronic warfare technologies, achieved the 58th position. Mazagon Dockyard Limited (MDL), a leading shipyard for naval vessels, secured the 91st spot.
The report also notes a record-breaking year for the global defense sector, with total sales reaching $679 billion in 2024. American companies overwhelmingly dominate the upper echelons, with Lockheed Martin, Northrop Grumman, and General Dynamics leading the pack. The UK’s BAE Systems is also a significant player, rounding out the top five. The United States has 39 companies in the top 100, showcasing its substantial market share.