May 2026
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Largest Aircraft & Space Systems Public Companies in India
Benchmark revenue and EBITDA valuation multiples for public comps like
Hindustan Aeronautics, Mazagon Dock Shipbuilders, Cochin Shipyard, Data Patterns (India) and Apollo Micro Systems.
 | Hindustan Aeronautics Ltd operates in the aerospace and defense sector. The company is engaged in the design, manufacturing, and development of products like aircraft, helicopters, systems and accessories, power plants, avionics, materials like castings, rolled rings, rubber products, and aerospace which include structures, tanks, and cryogenic engines. Geographically the company derives revenue from India and other countries, of which a majority of revenue is generated from India. | $45 | -16% | $30B | $25B | 7.3x | 17.9x | ||
| Mazagon Dock Shipbuilders Ltd is a defense public sector undertaking shipyard under the Ministry of Defence. The company is engaged in building and repairing ships, submarines, various types of vessels, and related engineering products for its customers. The company's activities are the construction of warships, ferries, tugs, dredgers, barges, submarines, merchant ships, etc., with facilities situated in Mumbai and Nhava. It also offers ship designing, ship repairs and refit, tug support, and other related services. The company is organized into two segments: Shipbuilding and Submarine (New Construction and Repairs) and others. | $25 | -33% | $10B | $9B | 6.4x | 24.9x | ||
| Cochin Shipyard Ltd is an Indian-based company engaged in the business activities of Shipbuilding and Ship repair. The company has two operating segments, namely, Shipbuilding and Repair of Ships/Offshore Structures. It generates maximum revenue from the Shipbuilding segment. The Shipbuilding segment offers products such as Oil Tankers, Bulk Carriers, Electric Passenger Ferries, Pax Vessels, Tugs, Aircraft Carriers, Pollution Control Vessels, and many more. The Ship repair segment includes maintenance and repair of all types of vessels including Tankers, Bulk Carriers, Aircraft Carriers, Defense Vessels, and all kinds of Commercial and Specialized vessels. | $15 | -- | $4B | $4B | 7.6x | 31.4x | ||
| Data Patterns (India) Ltd is a defense and aerospace electronics solutions provider catering to the indigenously developed defense products industry. The company caters to the entire spectrum of defense and aerospace platforms, offering products like cockpit and rugged displays, naval systems, space systems, radar and radar systems, electronic warfare, and avionic systems, among others. It operates only in one business segment, i.e., the manufacture, sale, and service of defense electronics. Geographically, a majority of its revenue is generated from its operations in India, and it also has some exposure to other markets. | $38 | +23% | $2B | $2B | 21.4x | 49.9x | ||
| Apollo Micro Systems Ltd offers design, development, and assembly of custom-built electronics and electro-mechanical solutions. The company offers a wide range of services such as electronic manufacturing, hardware design services, IT and software services, electronic and mechanical- CAD services. | $4 | +74% | $1B | $1B | 13.9x | 56.0x | ||
| Paras Defence And Space Technologies Ltd is engaged in the designing, developing, manufacturing, and testing of various defense and space engineering products and solutions. The company's product portfolio includes lens barrels, rugged networking and communication equipment, multifold lenses, metal mirrors, submarine winches, and mill grade control systems among others. Its operating segments are; Optics & Optronic Systems; and Defence Engineering. The maximum revenue for the company is derived from its Optics and Optronic Systems segment. Geographically, the firm generates a majority of its revenue from its customers within India and the rest from outside India through exports. | $8 | -9% | $639M | $628M | 12.6x | 43.4x | ||
| DCX System Ltd is an Indian Defence Manufacturing player offering a full service and manufacture of Electronic Systems and cable harnesses for both International and Domestic reputed customers. The company provides a spectrum of services to Aerospace, Land and Naval Defence systems, Satellites, and Civil Aviation. The company’s robust business structure is divided into three main segments: Manufacturing, System Integration, and Other. | $2 | -39% | $225M | $135M | 1.1x | 15.9x | ||
| Median | $15 | -13% | $2B | $2B | 7.6x | 31.4x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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