The impressive growth of India’s indigenous defence industry is reflected in the latest list of most valuable defence companies in the world.
Hindustan Aeronautics, with a market cap of US$38.94 billion, is 11th on the list while Bharat Electronics is 13th with a market cap of US$32.91 billion. Bharat Dynamics, with a market cap of US$8.64 billion, is 22nd on the list that has RTX, Honeywell, Safran, Lockheed Martin and Rheinmentall as the top five.
The ranking was published by Visual Capitalist and is based on real-time market capitalization data from CompaniesMarketCap.com. The listing highlights the world’s largest defence contractors by market value.
According to Defence Minister Rajnath Singh, India’s indigenous defence production has surged to an all-time high of Rs 1.46 lakh crore, with exports increasing to a record Rs 24,000 crore in 2024-25.
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