A significant achievement for India’s burgeoning defense industry is its representation in the latest global rankings of the top 100 arms-producing companies, compiled by SIPRI. This recognition, driven by the ‘Atmanirbhar Bharat’ vision, places three Indian firms among the world’s elite manufacturers.
Hindustan Aeronautics Limited (HAL), celebrated for developing the Light Combat Aircraft (LCA) Tejas, has been ranked 44th. Bharat Electronics Limited (BEL), a leader in advanced defense electronics and systems, earned the 58th position. Mazagon Dockyard Limited (MDL), a key player in naval shipbuilding including submarines, is the third Indian company to feature, at 91st.
The SIPRI report highlights a record-breaking year for global arms sales, totaling $679 billion in 2024. The United States dominates the sector, with Lockheed Martin, RTX, Northrop Grumman, and General Dynamics among the top global players. The UK’s BAE Systems is the sole European company in the top five. The report also indicates that 39 companies from the US are in the Top 100, with many showing strong revenue growth, signifying a powerful and expanding global defense market.