The defence electronics market will grow at a CAGR of 4 percent to reach USD 422 bn by 2032 (annually), states IESA Strategic Electronics report
The Indian ESDM (Electronics System Design and Manufacturing) industry is expected to grow at CAGR of 21.6 percent which is four times that of the global growth.
Sensing the immense opportunity ahead, the Karnataka Government has included electronics to its current IT & BT department, and the move is expected to give a major push to the electronics & semiconductor ecosystem in the state.
This was announced during the IESA Spacetronics & Deftronics 2019 Summit in Bengaluru.
India Electronics and Semiconductor Association (IESA), the premier Industry body representing the Indian Semiconductor & Electronics System Design and Manufacturing space, hosted the summit in collaboration with ISRO – the Indian Space Research Organisation and DRDO –to share insights on Intelligent Electronics.
“India’s ambitious space program and modernization program of defence are going to create approx. $193B strategic electronics opportunity in the next 12 -14 years. Today, we are at the inflexion point where government with its strong focus on indigenization in Defence and Space and the matured ESDM industry can make India not only be self-sufficient in our need but also a global leader in Strategic Electronics,” said Rajesh Ram Mishra, President, IESA
Intelligent electronics will be a vital ingredient in products & solutions for Space & Defence platforms, noted Jitendra Chaddah (JC), Senior Director, Operations & Strategic Relations, Intel India and Chairman, IESA.
Other key highlights of the summit
At the event, IESA also released the Strategic Electronics report estimating that the defence electronics market will grow at a CAGR of 4 percent to reach USD 422 bn by 2032 (annually).
The IESA Spacetronics & Deftronics Lifetime achievement award was conferred to Dr. K Sivan, Chairman, ISRO for this contribution to the Indian Space Industry.
IESA intends to make India the global hub for design-led manufacturing in intelligent electronics through continued partnership with the industry, government and academia in the country and international alliances.
Speaking at the Summit, Jitendra Chaddah (JC), Senior Director, Operations & Strategic Relations, Intel India and Chairman, IESA said, “Intelligent Electronics will be a vital ingredient in products & solutions for Space & Defence platforms. IESA is spearheading India’s Intelligent Electronics charter to accelerate self-reliance in space, defense & internal security. Through Spacetronics & Deftronics platform, we want to build & support innovation, entrepreneurship & manufacturing eco-system in these areas.”