Here’s a list of the top 10 defence manufacturing companies in India, focusing on their roles in the sector, along with recent news and achievements based on available information up to April 12, 2025. The selection includes both public and private companies known for significant contributions to India’s defence manufacturing.
Top 10 Defence Manufacturing Companies In India
1) Hindustan Aeronautics Limited (HAL)
A public-sector aerospace and defence company, HAL is a leading manufacturer of fighter aircraft, helicopters, and avionics for the Indian armed forces.
Recent News/Achievements:
- HAL continues to dominate India’s aerospace sector, with a focus on indigenous production like the Tejas Light Combat Aircraft.
- In 2025, HAL has been highlighted for its role in achieving India’s record defence production of Rs 1.27 lakh crore in FY 2023-24, contributing significantly to self-reliance.
- The company is also scaling up production to meet export demands, with India exporting to over 100 countries.
2) Bharat Electronics Limited (BEL)
Specializes in electronics, radar systems, communication equipment, and missile systems for defence applications.
Recent News/Achievements:
- BEL has been recognized for its advanced radar and surveillance systems, supporting India’s defence modernization.
- In 2024-25, BEL was noted for strong financial performance, contributing to the defence sector’s growth amid the ‘Make in India’ push.
3) Bharat Dynamics Limited (BDL)
Focuses on missile manufacturing, including anti-tank guided missiles and surface-to-air missiles.
Recent News/Achievements:
- BDL has been pivotal in producing indigenous missile systems like the Akash and is number 3 in the list of top 10 Defence Manufacturing Companies In India.
- In 2025, it was listed among top-performing defence stocks, reflecting investor confidence in its role in India’s missile programs.
4) Mazagon Dock Shipbuilders Limited (MDL)
A key shipyard building warships, submarines, and stealth frigates for the Indian Navy.
Recent News/Achievements of Mazagon Dock Shipbuilders Limited (MDL):
- MDL has been central to India’s naval expansion, delivering advanced frigates and submarines.
- In 2024, it was highlighted for robust order books and contributions to indigenous warship production.
- The company supports India’s goal of a $26 billion defence turnover by 2025.
5) Cochin Shipyard Limited (CSL)
Builds naval vessels, including aircraft carriers and patrol boats, with a focus on indigenous designs.
Recent News/Achievements of Cochin Shipyard Limited (CSL):
- CSL is working on India’s next indigenous aircraft carrier.
- In 2024-25, it was recognized for excellent financial results and its role in naval modernization, boosting India’s maritime defence capabilities.
6) Larsen & Toubro (L&T)
A private-sector giant manufacturing artillery guns, armoured vehicles, and naval systems.
Recent News/Achievements:
- L&T has been a key player in supplying K9 Vajra howitzers and building naval bridges.
- In 2025, it was praised for its role in private-sector defence growth under ‘Make in India,’ with projects like truck-mounted rocket launchers gaining traction.
- L&T contributed to 21% of private-sector defence production in FY24.
7) Tata Advanced Systems Limited (TASL)
A Tata Group subsidiary producing armoured vehicles, missile systems, and aerospace components.
Recent News/Achievements:
- TASL has excelled in manufacturing ATAGS howitzers and Wheeled Armoured Platforms (WhAP).
- In March 2025, it was noted for its growing influence in private defence manufacturing, with FY 2024-25 marking a turning point for its order pipeline.
- TASL is also collaborating on global defence projects.
8) Bharat Forge Limited (Kalyani Group)
Through Kalyani Strategic Systems, it produces artillery systems, small arms, and armoured vehicles.
Recent News/Achievements:
- In March 2025, Bharat Forge’s subsidiary formed a joint venture with Spain’s Duma Engineering to develop defence solutions for India and Europe, with a 90% stake held by Kalyani.
- The company’s ATAGS howitzer has been a highlight of indigenous artillery development.
9) Solar Industries India Limited
A leading manufacturer of explosives, propellants, and munitions for defence applications.
Recent News/Achievements:
- Solar Industries has been instrumental in supplying Pinaka rocket systems.
- Prime Minister Narendra Modi inaugurated the Loitering Munition Test Range at the Solar Defence and Aerospace Limited facility in Nagpur, Maharashtra.
- In 2025, it was recognized for its contributions to India’s missile and rocket programs, with strong private-sector involvement in FY24 production.
10) Zen Technologies Limited
Specializes in defence simulators, training systems, and anti-drone technology.
Recent News/Achievements:
- Zen Technologies has gained attention for its innovative counter-drone systems and simulators, critical for modern warfare training.
- In 2024, it posted excellent financial results, reflecting its growing role in niche defence tech.
Broader Context about India Defence Manufacturing Industry
Sector Growth:
India’s defence production hit Rs 1.27 lakh crore in FY 2023-24, with a 174% increase since 2014-15, driven by both public and private sectors. Exports surged 30-fold to Rs 21,083 crore, showcasing global competitiveness.
Private Sector Surge:
Companies like L&T, Tata, and Bharat Forge are expanding rapidly, contributing 21% to total defence production in FY24, supported by government policies promoting indigenization.
Make in India Impact:
The initiative has attracted global firms like Saab to collaborate with Indian companies, positioning India as a potential defence supplier for Europe.
Challenges in the Indian Defence Sector:
While progress is notable, India’s manufacturing sector faces hurdles like regulatory delays and reliance on imports for critical components, though self-reliance is improving.
This list reflects companies with significant defence portfolios and recent visibility in news or achievements. Smaller firms like Paras Defence or Taneja Aerospace are emerging but didn’t make the top 10 due to scale or broader impact compared to these players.
Why DRDO Isn’t in the Top 10 List
DRDO is not a manufacturing company but a research and development organization under the Ministry of Defence, Government of India. Its primary role is to design, develop, and test defence technologies, systems, and prototypes, rather than mass-producing equipment for the armed forces.
Manufacturing is typically handled by public-sector undertakings (PSUs) like Hindustan Aeronautics Limited (HAL), Bharat Electronics Limited (BEL), or private companies like Larsen & Toubro (L&T), which were included in the list.
DRDO’s Role:
Defence Research and Development Organisation (DRDO) develops technologies (e.g., Tejas aircraft, Agni missiles, Arjun tanks) and transfers them to PSUs or private firms for production. For example, HAL manufactures Tejas, while Bharat Dynamics Limited (BDL) produces DRDO-designed missiles like Akash.
DRDO is Not a Commercial Entity:
Unlike the listed companies, DRDO doesn’t operate as a commercial manufacturer with production lines or revenue-focused operations, so it doesn’t fit the same category.
DRDO’s Significance in Indian Defence
Despite not being a manufacturer, DRDO is pivotal to India’s defence ecosystem and could be considered a foundational entity rather than a ranked company. Here’s why it’s critical:
» Technology Development:
DRDO has developed key systems like
- the Agni and Prithvi missiles,
- BrahMos (with Russia),
- Tejas fighter jet,
- Pinaka rocket systems, and
- advanced radars,
enabling India’s self-reliance.
» Support to Manufacturers:
The companies in the top 10 list, such as HAL, BEL, and BDL, rely on DRDO’s R&D for their production pipelines.
Recent Achievements (2024-25) of DRDO:
- DRDO contributed to India’s record defence production of Rs 1.27 lakh crore in FY 2023-24 by providing indigenous designs, as noted in government reports.
- In 2024, DRDO successfully tested hypersonic missile technology and advanced anti-submarine warfare systems, boosting India’s global defence tech standing.
DRDO’s focus on private-sector partnerships has empowered companies like Tata Advanced Systems and Bharat Forge to produce advanced systems like ATAGS howitzers.