Company lists
The India edition · 2026

Defense contractorscompanies in India

Arms & ammunition, aerospace, air defense & electronics, drones & space, shipbuilding and more: the companies building defense contractors in India, with their founders, funding, team size and business models.

234 company profiles121 with reported revenue12 with recorded fundingOctober 2026 edition
India · Photo: Wikimedia Commons (CC BY-SA 4.0)

Recent defense contractors business events in India

Funding, M&A, contract wins and launches involving 246 defense contractors companies in India, last 24 months: 197 Contracts · 23 M&A deals · 7 funding rounds · 1 Launch. Newest first; companies and investors link to their Fliar profiles. Latest event in our news feed: Jun 2026.

ContractDefense

Solar industries india · client: Na

Solar Industries India Ltd. and its subsidiary have secured ₹1,076 crore ($113 million) worth of defence export contracts, to be executed over three years.

Defence
ContractSupply

Paras Defence and Space Technologies Limited · client: Bharat electronics

Paras Defence and Space Technologies Limited has received an order worth approximately Rs 52.82 crore, inclusive of taxes, from Bharat Electronics Limited (BEL).

Defence
ContractMaintenance

Takyon Networks · client: Hindustan aeronautics

Takyon Networks has received a work order worth of Rs 60.50 lakh from Hindustan Aerinautics (HAL) for the purpose of Comprehensive Annual Maintenance Contract.

ContractSupply

Paras defence & space technologies · client: DRDO, Ministry of Defence

Earlier, on April 30, the company received an order worth approximately ₹7.72 crore (inclusive of taxes) from DRDO, Ministry of Defence, for the development of Ku/C-band satellite…

Defence
M&AAcquisition · Completed

Krishna defence & allied industries acquires Taharabadkar Solutions Pvt Ltd

KDAIL has completed the acquisition of a 46.81% stake in Taharabadkar Solutions Pvt Ltd (TSPL), a defence-focused startup incorporated on 11th March 2025. The acquisition was completed…

Defence – Smart Weapons & Guided Ammunition Systems
ContractSupply

Premier explosives · client: Na

Premier Explosives Limited has announced a significant export order valued at ₹33.69 crores for the supply of rocket motors.

Defence
ContractSupply

Avantel · client: Bharat electronics

Avantel has announced an amendment to a purchase order from Bharat Electronics Limited, adding an additional value of ₹3.01 crore for the supply of power amplifiers.

Electronics
ContractSupply

Bharat electronics · client: Ministry of defence

Shares of Bharat Electronics Limited (BEL) were trading in the red but swung green on 5 May after the company announced that it has received a Rs 1,251 crore contract from the Ministry…

Defense
M&AAcquisition · Announced

Indo National Limited acquires Aidin technologies

The Board of Directors of Indo-National, at its meeting held on Thursday, approved the proposed acquisition of 51 per cent of the paid-up share capital of Aidin Technologies Private…

Aerospace and Defence
ContractDefense

Bharat electronics · client: Ministry of defence

Bharat Electronics Limited (BEL) has attracted market attention after securing fresh orders worth Rs 569 crore

Defence Electronics
ContractSupply

Premier explosives · client: Na

Premier Explosives has announced the receipt of a significant export order valued at ₹350.23 crores for the supply of defence products.

Defence
ContractSupply

Bharat earth movers · client: Indian army

The contracts with defence PSU Bharat Earth Movers Ltd (BEML) and Electro Pneumatics and Hydraulics (India) Private Ltd are for the procurement of TRAWL assembly for T-72/T-90 tanks.

Defense
ContractDefense

Apollo micro systems · client: Government of india

APOLLO MICRO SYSTEMS HAS POINTED OUT IN EXCHANGE FILING THAT THE COMPANY FOR MANUFACTURING A VARIETY OF DIFFERENT DEFENCE SYSTEMS AND AMMUNITION OF AMMUNITION TO THE GOVERNMENT OF INDIA

Aerospace and Defense
ContractTechnology

Infotek Software and Systems (i-TEK RFID) · client: Bharat electronics

The major defence PSU Bharat Electronics (BEL) signed a Memorandum of Understanding (MoU) with Infotek Software and Systems (i-TEK RFID) on April 16, 2026.

Defense
ContractSupply

Beml · client: Middle East region

BEML has secured an export order valued at USD 36.38 million from the Middle East region, the order entails the supply of heavy earthmoving equipment.

Infrastructure
M&AAcquisition · Completed

Aequs acquires Aequs Foundation

Aequs has successfully completed the acquisition of 1,000 equity shares, representing 50% of the total share capital of Aequs Foundation, from Hubballi Durable Goods Cluster Private Limited.

M&AAcquisition · Announced

HFCL Advanced Systems Pvt Ltd. (HASPL) acquires Raddef

HASPL will acquire HFCL's 80% stake in Raddef, a Radar Technology company.

Radar Technology
ContractTechnology

Spiral EHL Engineering Limited · client: Defsys solutions

Spiral in turn will be acquiring the Aerostructure and Aeronautics business of Defsys Solutions Private Limited (Defsys) on a slump sale basis.

Defense and Aerospace
M&AAcquisition · Announced

HFCL Advance Systems Private Limited acquires Raddef

HASPL will also acquire 80 per cent stake of HFCL in Raddef Private Limited, a radar technology company.

Radar technology
M&AAcquisition · Announced

HFCL Advance Systems Private Limited acquires Defsys solutions

The latter will in turn acquire the Aerostructure and Aeronautics business of Defsys Solutions Private Limited (Defsys) on a slump sale basis.

Aerostructure and Aeronautics business
M&AAcquisition · Completed

Sigma Advanced Systems Limited acquires AS Strategic

The company recently acquired Delhi-based AS Strategic, a defence and space-focused firm that operates through long-term joint ventures and exclusive service partnerships with European…

Defence and Space
ContractTechnology

Ramco Systems · client: Tata advanced systems

Tata Advanced Systems Ltd (TASL) has chosen Ramco Systems‘ aviation software to digitally manage its upcoming maintenance, repair, and overhaul (MRO) facility for the Indian Air Force’s…

Defense
ContractSupply

Mistral solutions · client: Hindustan aeronautics

Mistral Solutions, known for advanced embedded computing platforms and defence electronics, has received an order worth about ₹25 crore under Hindustan Aeronautics Limited’s LCA Mk1A…

Defense/Aerospace
ContractSupply

Hindustan aeronautics · client: Defence Ministry

The Defence Ministry on Thursday said it has signed a contract with Hindustan Aeronautics Limited (HAL) for the acquisition of eight Dornier 228 aircraft along with operational role…

Defence
ContractDefense

Hindustan aeronautics · client: Defence Ministry of India

Defence Ministry on Thursday said it has signed a contract with Hindustan Aeronautics Limited (HAL) for the acquisition of eight Dornier 228 aircraft, along with operational role…

Defense
M&AAcquisition · Announced

Sigma Advanced Systems acquires AS Strategic

Sigma Advanced Systems acquired Delhi-based AS Strategic in a deal estimated at Rs 30 crore.

Defence and Space
ContractDefense

Shree refrigerations · client: Indian Navy

Shree Refrigerations Limited (SRL) has secured multiple fresh orders worth more than Rs 40 Crore in last 2 months, from the Indian Navy, reinforcing its strong position in the defence…

Defense
ContractTechnology

Adani defence & aerospace · client: Embraer

Adani Defence & Aerospace has signed a memorandum of understanding with Brazilian aerospace giant Embraer to explore aircraft manufacturing opportunities in India.

Aerospace
ContractDefense

Leonardo · client: Adani defence & aerospace

Italy's Leonardo and India's Adani Defence & Aerospace have signed a preliminary agreement to launch a helicopter manufacturing ecosystem in India, the companies said in a joint…

Defense

Defense contractors companies in India, by revenue

Browse defense contractors companies in India by reported revenue, one-year revenue growth, revenue model, age and stage. The 50 companies below are the largest by their most recent reported revenue among 121 defense contractors companies in India that have filed a figure in the last four years. Every figure keeps its own reporting period, so compare periods before comparing amounts.

Showing 25 of 50

Manufacturer of defence, aerospace, and security solutions for military applications

Defense contractors
₹100,365.08 crFY 2024-25
+2%2024–2025
2,363+8% 12 mo to Sep 2024recorded Sep 2024
9 yr2017
0none in 3 months

Provider of design, fabrication & assembly of aircraft, jet engines, helicopters and their spare parts

Defense contractors
₹32,277.68 crFY 2023-24
Not reported
6,761-3% 12 mo to Aug 2024recorded Aug 2024
86 yr1940
0none in 3 months

Manufacturer of electronic products for the Indian armed forces

Defense contractors
₹20,938.38 crFY 2023-24
Not reported
11,023LinkedIn · Oct 2026
72 yr1954
0none in 3 months

Manufacturer of defense and industrial explosives

Defense contractors
₹7,611.09 crFY 2024-25
+24%2024–2025
2,327+0% 12 mo to Mar 2024LinkedIn · Oct 2026
31 yr1995
0none in 3 months

Manufacturer of defense and industrial explosives

Defense contractors
₹6,113.99 crFY 2023-24
Not reported
1,811+3% 12 mo to Nov 2023recorded Nov 2023
31 yr1995
0none in 3 months

Provider of unmanned aerial security patrolling and reconnaissance

Defense contractors
₹5,175.89 crFY 2024-25
+7%2024–2025
11,178+19% 12 mo to Sep 2024LinkedIn · Oct 2026
19 yr2007
6postings · last posted Sep 2026

Manufacturer of rail coaches, spare parts, mining, construction, and defense equipment

Defense contractors
₹4,096.56 crFY 2023-24
Not reported
562-3% 12 mo to Mar 2023LinkedIn · Oct 2026
62 yr1964
—No postings tracked

Manufacturer of diversified manufacturing solutions built on precision engineering

Aircraft parts and sub component manufacturers
₹959.21 crFY 2024-25
-3%2024–2025
2,342-49% 12 mo to Sep 2024LinkedIn · Oct 2026
26 yr2000
0none in 3 months · last posted Jun 2026

Provider of mission‑critical embedded electronic systems and sensor‑centric solutions

Defense contractors
₹754.69 crFY 2024-25
+33%2024–2025
1,429+31% 12 mo to Jul 2024LinkedIn · Oct 2026
41 yr1985
1postings · last posted Oct 2026

Manufacturer of ammunition and platform protection

Defense contractors
₹622.57 crFY 2024-25
+16%2024–2025
—Not available
41 yr1985
0none in 3 months

Manufacturer of electrical harnesses, electromechanical assemblies, and electronic panels

Defense contractors
₹598.97 crFY 2024-25
+31%2024–2025
1,227-0% 12 mo to Jun 2024LinkedIn · Oct 2026
19 yr2007
0none in 3 months · last posted Jun 2026

Design, assembly, and testing services provider

Defense contractors
₹564.95 crFY 2024-25
+51%2024–2025
298+29% 12 mo to Aug 2024LinkedIn · Oct 2026
41 yr1985
0none in 3 months · last posted Jul 2025

Provider of smart ballistic protection solutions for the military

Defense contractors
₹549.57 crFY 2023-24
+11%2023–2024
1,103LinkedIn · Jul 2026
44 yr1982
0none in 3 months

Manufacturer of solid propellants

Defense contractors
₹419.57 crFY 2024-25
+52%2024–2025
218+3% 12 mo to Jul 2024LinkedIn · Oct 2026
46 yr1980
0none in 3 months

Provider of aerospace systems and geospatial services for various applications

Aerospace engineering and design services
₹416.70 crFY 2024-25
+51%2024–2025
1,035+11% 12 mo to Aug 2024LinkedIn · Oct 2026
34 yr1992
0none in 3 months

Manufacturer of defense and aerospace electronic solutions, including consoles and navigation systems

Electronic components
₹318.23 crFY 2024-25
+25%2024–2025
81+39% 12 mo to Sep 2024LinkedIn · Jul 2026
7 yr2019
0none in 3 months · last posted Jun 2026

Provider of electro mechanical system, weapons, and other services for defence

Defense contractors
₹311.94 crFY 2024-25
+10%2024–2025
250LinkedIn · Jul 2026
19 yr2007
0none in 3 months

Manufacturer of defense electronics and space application products

Defense contractors
₹230.65 crFY 2022-23
Not reported
359+22% 12 mo to Mar 2024LinkedIn · Oct 2026
54 yr1972
2postings · last posted Aug 2026

Provider of diverse services for the defense sector

Defense contractors
₹200.17 crFY 2023-24
Not reported
100LinkedIn · Jul 2026
32 yr1994
0none in 3 months

Designer, developer, and manufacturer of equipments for defence, security, dairy, and mega kitchen verticals

Manufacturing services
₹197.74 crFY 2024-25
+84%2024–2025
89-2% 12 mo to Sep 2024LinkedIn · Oct 2026
30 yr1996
0none in 3 months

Manufacturer specializing in precision engineering for complex and critical applications in the defence, aerospace, and healthcare industries

Defense contractors
₹166.03 crFY 2021-22
Not reported
334+7% 12 mo to Aug 2024recorded Aug 2024
47 yr1979
—No postings tracked

Supplier of aerospace-grade aluminum hard alloys, catering to the global aerospace and defense industry

Defense contractors
₹150.73 crFY 2024-25
+75%2024–2025
—Not available
18 yr2008
0none in 3 months

Manufacturer of small arms ammunition for military and civilian use

Defense contractors
₹142.65 crFY 2024-25
+93%2024–2025
—Not available
10 yr2016
0none in 3 months

Manufacturer of aerospace and defense products and services

Aircraft parts and sub component manufacturers
₹138.49 crFY 2024-25
+35%2024–2025
191+17% 12 mo to Jun 2024LinkedIn · Jul 2026
42 yr1984
0none in 3 months

Company specializes in developing aerospace and defense solutions by integrating technology, engineering, and manufacturing expertise

Defense contractors
₹133.71 crFY 2024-25
+108%2024–2025
301+33% 12 mo to Sep 2024LinkedIn · Oct 2026
15 yr2011
1postings · last posted Aug 2026
50 of 234 companies shown here · the full list is on Radar
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Explore defense contractors companies in India by what you are looking for

Browse the top defense contractors in India, from aerospace and defence manufacturers to arms, ammunition and shipbuilders. Find defense contractor companies, military technology firms and defense startups in India.

9 ways to explore defense contractors in India

Arms, ammunition & land defense systemsAircraft, aerospace parts & engineering companiesAir defense, missiles & defence electronicsMilitary drones, unmanned systems & space techShipbuilders & naval defense companiesDefense manufacturing & engineering support

Arms, ammunition & land defense systems

Makers of arms, ammunition, explosives, armoured vehicles and body armour.

  1. Adani Defence & Aerospace

    Manufacturer of defence, aerospace, and security solutions for military applications

    Defense contractors
    See in list
  2. Solar Group

    Manufacturer of defense and industrial explosives

    Defense contractors
    See in list
  3. Tata Advanced Systems

    Provider of unmanned aerial security patrolling and reconnaissance

    Defense contractors
    See in list
  4. BEML

    Manufacturer of rail coaches, spare parts, mining, construction, and defense equipment

    Defense contractors
    See in list
  5. SMPP

    Manufacturer of ammunition and platform protection

    Defense contractors
    See in list

Aircraft, aerospace parts & engineering companies

Aircraft makers, aerospace component manufacturers and design service firms.

  1. Aequs

    Manufacturer of diversified manufacturing solutions built on precision engineering

    Aircraft parts and sub component manufacturers
    See in list
  2. Ananth Technologies

    Provider of aerospace systems and geospatial services for various applications

    Aerospace engineering and design services
    See in list
  3. Merlinhawk Aerospace

    Manufacturer of aerospace and defense products and services

    Aircraft parts and sub component manufacturers
    See in list
  4. Rangsons Aerospace

    Company specializes in developing aerospace and defense solutions by integrating technology, engineering, and manufacturing expertise

    Defense contractors
    See in list
  5. Dassault Aircraft Services

    Provider of a subsidiary of Dassault Aviation, providing maintenance, repair, and overhaul (MRO) services for military aircraft and civilian jets

    Defense contractors
    See in list

Air defense, missiles & defence electronics

Air defense systems, missiles, C4ISR and military electronics providers.

  1. Data Patterns

    Provider of mission‑critical embedded electronic systems and sensor‑centric solutions

    Defense contractors
    See in list
  2. Vista Consoles Electronics

    Manufacturer of defense and aerospace electronic solutions, including consoles and navigation systems

    Electronic components
    See in list
  3. Jeanuvs

    Provider of electronic and mechanical system design and manufacturing services

    Electronic manufacturing services
    See in list
  4. Apollo Computing Laboratories

    Provider of electronic systems in the embedded computing domain

    Defense contractors
    See in list
  5. HYT Inovative

    Precision machining company that specializes in manufacturing rocket and missile components, utilizing advanced technologies such as flow forming, silica lining, and EPDM lining

    Defense contractors
    Website

Military drones, unmanned systems & space tech

Unmanned aerial vehicles, military drones, satellites and space hardware.

  1. Adani Defence & Aerospace

    Manufacturer of defence, aerospace, and security solutions for military applications

    Defense contractors
    See in list
  2. Aidin Technologies

    Provider of advanced defense and aerospace solutions

    Space tech
    See in list
  3. Varchas Aerospace

    Provider of indigenous aerospace & defense solutions

    Defense contractors
    Website
  4. Aethrone Aerospace

    Developer and manufacture of support critical mission systems for aerospace and defence sector

    Defense contractors
    Website
  5. Sarmatrix

    Developer of aerospace and defense technology for complex security challenges

    Space tech
    Website

Shipbuilders & naval defense companies

Naval shipbuilding, ship design, repair and ship component makers.

  1. Ultra Dimensions

    Provider of diverse services for the defense sector

    Defense contractors
    See in list
  2. Swan Defence and Heavy Industries

    Operator of shipbuilding, ship repair, heavy engineering, and fabrication services

    Shipbuilders
    Website
  3. L&T Shipbuilding

    Provider of comprehensive solutions, from concept design to construction for new builds, as well as repair, refits and mid-life upgrades

    Shipbuilders
    Website
  4. Micro Precision

    Precision manufacturing and calibration services company specializing in the production of components and calibration of instruments, primarily serving the defense, medical, and scientific industries

    Defense contractors
    Website
4 companies in India

Defense manufacturing & engineering support

Precision manufacturing, contract manufacturing and engineering support for defence.

  1. Aequs

    Manufacturer of diversified manufacturing solutions built on precision engineering

    Aircraft parts and sub component manufacturers
    See in list
  2. Aditya Precitech

    Provider of precision machining & fabrication, TIG welding, riveting, and heat treatment services

    Industrial automation equipment
    See in list
  3. Shreeref

    Manufacturer of advanced refrigeration and HVAC systems

    Industrial air conditioning systems
    See in list
  4. Evigway

    Do not publish - R260522239948-1

    Defense contractors
    Website
  5. Krishna Defence & Allied Industries

    Designer, developer, and manufacturer of equipments for defence, security, dairy, and mega kitchen verticals

    Manufacturing services
    See in list

Defense startups in India

Newer defense contractors founded in the last few years in India.

  1. Varchas Aerospace

    Provider of indigenous aerospace & defense solutions

    Defense contractors
    Website
  2. Athes Automotive Engineering

    Company that provides re-engineering solutions for defense vehicles, leveraging proprietary design services

    Defense contractors
    Website
  3. Next Defence

    Manufacturer of defence systems including small arms drones and simulators

    Defense contractors
    Website
  4. Zosh Aerospace

    Aerospace offers support for installation and commissioning of machines and equipment with services in the aerospace & defense sector

    Defense contractors
    Website
  5. Panchatejas

    Aerospace and defence experts with decades of experience in aircraft design

    Defense contractors
    Website
54 companies in India

Defense contractors hiring in India

Defense contractors in India with open jobs right now.

  1. Tata Advanced Systems

    Provider of unmanned aerial security patrolling and reconnaissance

    Defense contractors
    See in list
  2. Aequs

    Manufacturer of diversified manufacturing solutions built on precision engineering

    Aircraft parts and sub component manufacturers
    See in list
  3. Data Patterns

    Provider of mission‑critical embedded electronic systems and sensor‑centric solutions

    Defense contractors
    See in list
  4. SASMOS

    Manufacturer of electrical harnesses, electromechanical assemblies, and electronic panels

    Defense contractors
    See in list
  5. Apollo Microsystem

    Design, assembly, and testing services provider

    Defense contractors
    See in list
26 companies in India

Listed defense contractors in India

Publicly listed defense contractors based in India.

  1. Hal India

    Provider of design, fabrication & assembly of aircraft, jet engines, helicopters and their spare parts

    Defense contractors
    See in list
  2. Solar Group

    Manufacturer of defense and industrial explosives

    Defense contractors
    See in list
  3. BEML

    Manufacturer of rail coaches, spare parts, mining, construction, and defense equipment

    Defense contractors
    See in list
  4. Aequs

    Manufacturer of diversified manufacturing solutions built on precision engineering

    Aircraft parts and sub component manufacturers
    See in list
  5. Data Patterns

    Provider of mission‑critical embedded electronic systems and sensor‑centric solutions

    Defense contractors
    See in list
10 companies in India
Mobile reach

Top 3 defense contractors apps from India

The most-installed Android apps published by defense contractors companies headquartered in India — 1K installs between them. 3 companies on this page publish at least one app; each company (legal entity) appears once, with its most-installed app.

1 of 3
The business behind the activity

Defense contractors financials in India

Revenue, profit and growth from the filed annual accounts of 117 defense contractors companies in India for FY24-25 — 131 of the 234 companies on this page file accounts with the Ministry of Corporate Affairs. The five largest earn 89% of the revenue, so medians describe the typical company better than totals.

combined revenue, FY24-25₹107,372.32 cr

117 companies filing accounts

combined net profit₹21,629.47 cr

20.1% aggregate margin

are profitable80%

94 of 117 companies

median revenue~₹17.4 cr

the typical company

median revenue growth+30%

into FY24-25

earned by the top five89%

revenue concentration

Six-year view

Combined revenue of filing companies

₹60,640.47 crFY19-2084 filers
₹61,972.14 crFY20-2196 filers
₹82,849.35 crFY21-2299 filers
₹122,870.26 crFY22-23113 filers
₹105,947.18 crFY23-24121 filers
₹107,372.32 crFY24-25117 filers

The number of companies filing changes each year; the three-year cohort below compares like with like.

Like-for-like

The same 104 companies over three years

-12%
FY22-23₹121,955.67 cr₹29,555.76 cr net
FY23-24₹104,937.08 cr₹16,173.94 cr net
FY24-25₹107,133.36 cr₹21,687.56 cr net

Companies with accounts for all three years, so growth is not an artefact of who filed.

Scale and profit

Bigger companies are far more often profitable

Under ₹1 cr1741% profitable
₹1–10 cr3376% profitable
₹10–100 cr4193% profitable
₹100–1,000 cr2090% profitable
Over ₹1,000 cr6100% profitable

Companies by FY24-25 revenue. Bars show how many companies sit in each band.

Momentum

How fast revenue moved into FY24-25

Shrinking33
0–20%13
20–50%22
50–100%23
Doubled+24

115 companies with accounts for both years; median growth +30%.

Profitability

Profit is concentrated at the top

94profitable
23loss-making
20.1%aggregate margin
5.1%median margin

The aggregate margin is pulled up by a few large filers; the median shows the typical company.

Growth leaders · ₹10 cr+ revenue

Fastest growing, FY24-25

CompanyGrowthRevenue
Altair InfrasecALTAIR INFRASEC PRIVATE LIMITED
Swan Defence and Heavy IndustriesSWAN DEFENCE AND HEAVY INDUSTRIES LIMITED+612%
JeanuvsJEANUVS PRIVATE LIMITED
Global TechnocratsGLOBAL TECHNOCRATS LIMITED
Aidin TechnologiesAIDIN TECHNOLOGIES PRIVATE LIMITED
Star AerospaceSTAR AEROSPACE LIMITED
Profit leaders · ₹10 cr+ revenue

Highest net margins, FY24-25

CompanyMarginRevenue
Sial ManufacturersSIAL MANUFACTURERS PRIVATE LIMITED49.9%₹60.95 cr
Vista Consoles ElectronicsVISTA CONSOLES ELECTRONICS PRIVATE LIMITED44.2%₹318.23 cr
Mg SeatingMG SEATING SYSTEMS PRIVATE LIMITED39.4%₹26.91 cr
VEDA Defense SystemsVEDA DEFENSE SYSTEMS PRIVATE LIMITED34.1%
Nova Integrated SystemsNOVA INTEGRATED SYSTEMS LIMITED
Data PatternsData Patterns (india) Limited29.4%₹754.69 cr
Inside the industry

Sub-sectors compared, FY24-25

Sub-sectorCompaniesRevenueMedian revenueProfitableMargin
Defense contractors99₹105,719.92 cr~₹15.5 cr81%20.4%
Leaders

Largest defense contractors companies by revenue, FY24-25

Company · legal entityRevenueNet resultMarginGrowth
Hal IndiaHINDUSTAN AERONAUTICS LIMITED₹33,546.45 cr₹8,316.80 cr24.8%+4%
Adani Defence & AerospaceADANI ENTERPRISES LIMITED₹28,313.04 cr₹6,040.23 cr21.3%-16%
BELBHARAT ELECTRONICS LIMITED₹24,425.60 cr₹5,288.25 cr21.7%+17%
Tata Advanced SystemsTATA ADVANCED SYSTEMS LIMITED₹5,145.49 cr₹66.53 cr1.3%+9%
Solar GroupSOLAR INDUSTRIES INDIA LIMITED₹4,540.35 cr₹803.11 cr17.7%+20%
BEMLBEML LIMITED₹4,047.13 cr₹294.19 cr7.3%-1%
Data PatternsData Patterns (india) Limited₹754.69 cr₹221.81 cr29.4%+33%
SMPPSMPP LIMITED₹622.70 cr₹174.76 cr28.1%+16%
Apollo MicrosystemAPOLLO MICRO SYSTEMS LIMITED₹566.12 cr₹57.24 cr10.1%+51%
Premier ExplosivesPREMIER EXPLOSIVES LIMITED₹419.57 cr₹28.55 cr6.8%+52%
Some figures are available to Radar members.Log in to Radar to see every figure

Standalone annual accounts filed with the Ministry of Corporate Affairs. Brands that share one legal entity are shown together and counted once.

Industry landscape report

Accounting and Tax Software Industry Landscape of India

The financials above are one chapter. The full defense contractors landscape of India maps the whole industry — every segment, the capital behind it, the talent market and where the next opportunities are.

  • Market map of every sub-sector
  • Funding & company formation by year
  • Revenue, profit & financial strength
  • Digital footprint: traffic, apps, releases
  • Hiring, skills & pay
  • Founders & leaders
  • News & sentiment
  • Where demand runs ahead of supply
Read the defense contractors landscape of India
For investors and data teams

Put this intelligence into your own tools

The figures on this page come from Fliar’s company, funding and MCA filings data. Use it through the Investor Intelligence API and MCA financials feeds, or explore every company, filing and investor in Radar.

Capital & corporate activity

Defense contractors funding and M&A across India

28 recorded equity rounds have gone to 246 defense contractors companies in India — how much, at which stage, into which sub-sectors, from whom, and how India compares. Debt, IPO and grant rounds are excluded.

equity rounds, last 12 months2

US$5.29m

equity rounds, last 24 months5

US$64.33m

raised over five yearsUS$174.56m

14 rounds in India

M&A deals, India23

last 24 months

Capital by year

Equity funding into defense contractors in India

amount rounds
$4.5m20193
$020211
$106m20235
$4.2m20243
$59m20253
$5.3m20262

Bars show US$ raised; the number under each year is equity rounds. 2026 is year to date. The peak year was 2023, with US$106.04m across 5 rounds.

The funding ladder · five years

Rounds and typical cheque by stage

AngelUS$3.46m4 rounds · median US$467k
SeedUS$2.16m3 rounds · median US$1.08m
Series AUS$43.92m2 rounds · median US$21.96m
Series BUS$37.52m2 rounds · median US$18.76m
Private equityUS$87.50m2 rounds · median US$43.75m
Where the money went · five years

Most-funded sub-sectors

Aircraft parts and sub component manufacturersUS$87.50m2 rounds · 1 companies
Defense contractorsUS$86.82m11 rounds · 10 companies
Space techUS$242k1 rounds · 1 companies
Corporate activity · last 24 months

M&A in India

23Acquisition

Most active acquirers

  1. Adani defence & aerospace4
  2. HFCL Advance Systems Private Limited3
  3. Krishna defence & allied industries2
  4. Sigma Advanced Systems Limited2
  5. Apollo micro systems2

Most acquired or merged

  1. Raddef2
  2. AS Strategic2
  3. Na2
  4. Taharabadkar Solutions Pvt Ltd1
  5. Aidin technologies1

Each deal appears in the events strip at the top of the page.

Defense contractors funding in India

12 defense contractors companies in India have recorded equity funding, US$193.24m in total. Totals and round dates describe the historical record; they are not current valuations.

Founders and momentum in India

Meet the people behind defense contractors companies in India. 98 of 234 companies list founders or leaders; where a public LinkedIn profile matches exactly, the expanded profile shows the photo, headline, location and education.

Explore India defense contractors companies by sub-sector

The most common specialisations among defense contractors companies in India. Open a company to see what it sells, who runs it and how far it has come.

Keep exploring defense contractors in India and nearby markets.

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