India’s defense market is poised for substantial growth, supported by recent approvals and strategic initiatives. A Goldman Sachs report highlights that the Defense Acquisition Council (DAC) approved proposals worth ₹790 billion for the Navy, Army, and Air Force on October 23, emphasizing the government’s focus on strengthening defense capabilities and significantly expanding the Total Addressable Market (TAM). This approval raises the cumulative AoN for FY26 to ₹2.5 trillion, surpassing the entire FY25 figure of ₹2.3 trillion. The report underscores that this surge in approvals reflects increased government spending, especially on procurement like Landing Platform Docks (LPDs), and signals greater growth opportunities for domestic defense companies. Notably, the sector’s higher capital expenditure and enhanced export ambitions, including defense exports projected to reach INR 538.17 billion by 2030, further bolster the outlook. The report reinforces that private sector players are increasingly positioned to benefit from this growth, driven by indigenization efforts and export expansion plans. The overall tone indicates a bullish outlook for India’s aerospace and defense industry, with initiatives to boost local manufacturing and exports highlighted as key catalysts.