India is serious about becoming a significant aerospace and defense products and services exporter.
Currently recording an estimated $1.2 billion share or 0.18% of the global aerospace and defense market, India aims to 4x its exports by 2025. With its rising geopolitical stature, large domestic aviation market, sizable military, and burgeoning government support, the South Asian Republic means business.
Planned, designed, and manufactured locally, the successful moon landing of the Chandrayaan-3 mission is a welcome bellwether of economic ascension. At a budget of $74 million, 37% of the cost of Russia’s Luna-25 moon-lander, and 17% of NASA’s VIPER lunar rover, India is doing more with less.
The country has a deep pool of STEM talent, with a reported 1.5 million engineering graduates annually, 7.5x the number of U.S. engineering graduates, and a reputation as a top technology and start-up ecosystem; India has the human capital to feed its nascent industry.
Becoming a leading aerospace and defense exporter is an audacious goal. While experts are skeptical, India is taking bold steps and can make its dream a reality.