Achievement and development of defence industrialization for a country have their own story based on the nation's plans in the past, the success achieved in the present, and the direction and continuous aspirations planned for its future formation. Similarly, as most countries prioritise their industrial defence base to strengthen the capabilities of their national armed forces, Malaysia is also not left behind. The country aspires to have a sustainable and reliable defence industry to support the aspirations to defend its nation's sovereignty. This paper is a study based on a conceptual analysis of the formation and development of the defence industry in Malaysia that has been implemented in the past, present and future. This paper uses a qualitative research approach that includes collecting data based on a literature review of the defence industry in Malaysia and globally, examining related national policies, interviewing significant individuals in the industry and making observations on the facilities of the local defence industry. As a result, this study will present a conceptual analysis of the formation and development of the defence industry in Malaysia in the past, present and future.