India has the 5th largest defence budget in the world. The Aerospace and Defence Industry in India is a strategically important sector in the country.
After a strong year in 2018, the global aerospace and defence (A&D) industry has is seeing a drop in 2019. Although, the industry has clearly seen the consequences of COVID19. With the ongoing lock-down, even if we assume a 25% decline in aerospace industry revenues, it comes to around $1.5 billion to $2 billion of losses.
The industry will get back to its growth trajectory with the commercial aerospace sector recovering. In India, it is estimated to reach around $70 billion by 2030.
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