New York, Dec 2 (NationPress) The revenue generated from arms by the three leading Indian defence equipment manufacturers saw a substantial increase of 8.2 percent, reaching $7.5 billion last year, as reported by the Stockholm International Peace Research Institute (SIPRI).

The latest Top 100 global arms producers list released on Monday by SIPRI, a recognized authority on international arms manufacturing and trade, highlights the presence of only three Indian entities: Hindustan Aeronautics Limited (HAL), Bharat Electronics Limited (BEL), and Mazagon Dock Shipbuilders Limited (MDSL).

According to SIPRI, HAL continues to hold the title of India’s leading defence manufacturer, with arms revenue amounting to $3.8 billion.

It ranks 44th in the SIPRI Top 100 list of arms manufacturers, down from 42nd in 2023, with a slight revenue decrease of 0.3 percent.

HAL's production spans a diverse range of aviation and space products, many of which are intended for civilian applications.

Of its overall revenue of $4 billion, SIPRI noted that 95 percent was derived from arms, which were the figures considered for the Top 100 list.

BEL, recognized as India’s second-largest defence entity, experienced the most significant revenue growth among the three Indian firms in the Top 100 list, achieving a remarkable 23.6 percent increase from 2023, totaling $3.8 billion last year.

SIPRI attributed this growth in arms revenue to government orders for radars and electronic warfare systems.

Its global position improved by ten spots, now ranking 58th compared to 68th in 2023.

From BEL’s total revenue of $2.75 billion, 89.9 percent originated from arms manufacturing, as reported by SIPRI.

The revenues of MDSL, which specializes in submarines and warships, increased by 9.38 percent last year, reaching $1.12 billion, according to SIPRI.

Its total revenue for the year was $1.37 billion, with 89.8 percent coming from defence production, maintaining its global rank at 91.

On a global scale, SIPRI reported that the arms revenues of the companies listed in the Top 100 achieved a record high, growing by 5.9 percent in 2024 to $679 billion.

The increase in overall arms revenues among the Top 100 was largely driven by significant growth in firms based in Europe and the United States.

The U.S. firm Lockheed Martin topped the SIPRI Top 100 list, reporting arms revenues of $62 billion, with four out of the next five companies also being American.

BAE Systems from Britain secured the fourth position.

Rostec from Russia was ranked seventh, while AVIC from China came in eighth.

A previous SIPRI report highlighted that India allocated $86.23 billion for its defence in 2024.

In contrast, Pakistan's military spending was $10.165 billion, and China's was $313.67 billion.