The company is targeting a substantial opportunity in the optical systems market, aiming to capture 50% of this market within the next three years. This initiative is part of a broader strategy to expand its capabilities and product offerings in the defence sector, particularly in optics and related technologies.

Recently, Paras Defence inaugurated an advanced optical systems testing facility in Navi Mumbai. This facility is a crucial step toward establishing India's first Optical Systems Development Park, which will bolster the nation's capabilities in both defence and space technologies.

The defence and space engineering products manufacturer plans to set up an optical systems development park and is in talks with Maharashtra and Karnataka governments to acquire 20 acres of land for the facility, Managing Director Munjal Sharad said.

This will be India's first optics park that will be a one-stop shop for high-end design, manufacturing, and testing of optical systems used for automotive cameras to very high-end space cameras.

The optical systems segment is projected to grow significantly, driven by advancements in airborne combat and ISR (Intelligence, Surveillance, and Reconnaissance) capabilities. The overall defence optics market is expected to rise from approximately $255 million in 2021 to $2.1 billion by 2030, indicating robust growth prospects for companies like Paras Defence that specialize in this area.

While Paras Defence is exploring international markets, it prioritizes the domestic sector due to favourable procurement policies and significant growth potential over the next decade. The company is well-positioned to benefit from various government initiatives aimed at indigenization and defence modernisation.

The orders under the radar are in high-end defence systems, telescopes, earth observatories, and satellites.