Stockholm International Peace Research Institute (SIPRI) ranks three Indian PSUs among top 100 global arms makers

Key facts

• Hindustan Aeronautics (HAL), Bharat Electronics (BEL) and Mazagon Docks (MDL) figure in SIPRI’s global top 100 arms-producing companies.
• Together the three Indian PSUs accounted for 1.1% of global arms sales last year.
• Global arms revenues rose 5.9% to a record $679 billion in 2024.
• HAL was ranked 44th with $3.8 billion in arms sales, BEL 58th with $2.4 billion and MDL 91st with $1.2 billion.