New Delhi. 17 May 2024. HFCL Limited (“HFCL”), a leading technology enterprise specializing in the manufacturing of high-end telecom equipment, optical fiber, and optical fiber cables, as well as providing communication network solutions for telecommunications, defense, and railway sectors, has strengthened its position in the defense sector with the development of cutting-edge defense electronic products.
Aiming to be a significant contributor to the defense sector and fortify national security, HFCL has invested in its R&D capabilities over the past five years to develop various defense products.
HFCL has successfully created a comprehensive, its IPR owned state-of-the-art defense product portfolio which are not only of national importance but also have huge demand for export. This includes Electronic Fuzes, Ti Cores for Thermal Sights, Thermal Weapon Sights for light machine guns and Assault Rifles, Ground Surveillance Radars for various range and applications, as well as High Capacity Radio Relays, among others. It is also in process of developing Drone Detection Radars.
HFCL has developed different types of Electronic Fuzes for 105, 130, and 155 mm caliber Artillery Guns. The Company has also successfully cleared the User Trial Readiness Review for the Armament Upgrade Project of the Indian Army for BMP Infantry Combat Vehicles, further demonstrating its capabilities in meeting the defense sector’s requirements. HFCL’s subsidiary HTL Limited has already received orders from various Defence PSUs for supply of Wire Harness for application in Tanks, Ships, Aircrafts and in several other equipment.
India accounts for 3.7% of global military spending amounting to 6.21 lakh crore, making it the third highest military spender in the world after the U.S. and China. With active initiatives by Indian and various global governments to modernize and upgrade defense networks and systems, there is a total addressable market of multi billion dollars. Leveraging its strong R&D capabilities, HFCL aims to address the Defence market nationally and internationally. The market size for HFCL’s current products is expected to be in excess of USD 10 Billion. The Company is also in process of developing a state of the art manufacturing facility in Hyderabad for Defence Products.
Mahendra Nahata, Managing Director, HFCL, said, “With our commitment to invest in R&D for developing products of cutting edge technology for empowering defence and security forces, we have been creating comprehensive Defence Portfolio. We are also exploring opportunities for development of more products in defence sector and we firmly believe that we will be able to further grow and contribute to India’s defence sector with our own development and new alliances. We are confident that our continued efforts in designing and developing innovative defense products for the Indian Defence Forces and global markets will significantly enhance the Company’s revenue and profitability. Defense products hold exponential potential to increase our Revenue and margins. Leveraging our domain expertise, technological strengths, and market presence, we aim to solidify our position as a trusted partner in enhancing national defense capabilities and contributing to the government’s vision of building the India Stack in the defense sector.”
