Hindustan Aeronautics Ltd - HAL

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Hindustan Aeronautics Limited (HAL) is an Indian public sector aerospace and defence company. Headquartered in Bengaluru, it is involved in the designing, manufacturing and overhaul of combat aircraft, helicopters, unmanned aerial vehicles, jet and turbine engines, avionics, and other hardware. HAL operates 11 dedicated research and development centres and 21 manufacturing divisions distributed across four production units. The company is majority-owned by the Indian government, and managed by a board of directors appointed by the Indian president through the Ministry of Defence. Israel Aerospace Industries (IAI) signed a Memorandum of Understanding (MOU) with Hindustan Aeronautics Limited (HAL), to convert Multi Mission Tanker Transport (MMTT) in India. The local MMTT conversions will utilize India’s local defence ecosystem and support India’s ‘Make in India’ campaign. In addition to MMTT conversions, the MOU also includes commercial passenger-to-freighter conversions. From 2019 to 2023, India was Israel’s largest defense client, accounting for 37 percent of Israel’s defense exports. Since 2006, India has reduced its dependence on Russian military imports while increasing imports from Western suppliers, including France, Israel, and the United States. Between 2023 and 2024, Israel was India’s third-largest defense equipment supplier, contributing 13 percent of India’s total defense imports — more than double that of two decades earlier. In recent years, Israeli-Indian defense cooperation has flourished, with several jointly developed defense technologies or Israeli technologies licensed for production in India, including Hermes 900 drones, the Barak 8 and Spike missiles, field artillery, and the Israeli-made TROPHY active protection system for main battle tanks. Earlier versions of the Tejas jet also carried Israeli-made radar systems. All of this is used in the Gaza genocide. -- Listed on NSE/BSE (HAL), Hindustan Aeronautics Ltd - HAL is backed by leading sovereign wealth funds, most notably NBIM.