A fast-read primer on where the sector stands today and where it's headed — the backdrop against which we benchmark every company's cost structure in this category.
Domestic production has more than doubled in two years, and the government's FY29 target implies it nearly doubling again.
FY24 → FY25 → FY29 target
Share of total production value
From a near-standing start in FY14 to a Rs 30,000+ crore ambition for FY26 — private companies now drive more than 90% of that growth.
FY14 → FY25 actual → FY29 target
Three reinforcing forces — geopolitical demand, policy design, and capital commitment — are compounding at the same time.
A sample of the policy and industry-wide moves shaping the sector through early 2026.
Listed Indian Aerospace & Defence companies in tDoBe's cost-benchmarking coverage.
The market facts above are public background. What follows is tDoBe's own work: every "Other Expenses" line from these companies' own financial records, read by hand and sorted into one clear set of categories — not a keyword search, not each company's own way of reporting it.
Each mark is one company's total Other Expenses as % of net revenue. No company is named here.
Ranked from biggest to smallest.
Most of the cost in this sector sits under Miscellaneous & Others. A big share of this is money set aside for warranties, late deliveries, and payments that may not come through — normal in defence work, where contracts run for years and government payment cycles can be slow.
Some companies spend much more on Other Expenses than others, even within the same sector. Large, established manufacturers and smaller, newer companies often show very different numbers. Being in the same sector does not tell you where a company will land.
We use each company's own standalone financial records — not group numbers, not each company's own labels. Every cost line is read by hand and placed into one common set of categories, so every company is compared the same way.
This is the free, sector-wide view. It tells you where Aerospace & Defence stands as a whole — not where your own company stands against it, category by category, in rupees.
A below-average number is a reason to call too — the benchmark keeps improving as we go.