Six nations including the US, Australia, Indonesia and the Philippines have shown interest in India’s Tejas aircraft while Malaysia has already shortlisted the jet under its acquisition program, the government said earlier this week. The other two countries that have evinced interest in the aircraft are Argentina and Egypt, according to Minister of State for Defence Ajay Bhatt.

The global fixed-wing market is set to be worth $98.3 billion in 2032, growing at a compound annual growth rate (CAGR) of 3.12% between 2022 and 2032. It will be majorly driven by the rapid advancements in stealth technologies due to a steady increase in military expenditures of many countries, says GlobalData, a leading data and analytics company.