Nov 24 (Reuters) - Spanish aerospace company Escribano said on Friday it had increased its stake in defence systems maker Indra to 8% from 3.4% as it intended to contribute to the development of its defence programmes.

Escribano had bought the initial stake in Indra for 65 million euros ($71 million) in May. At market prices, its current 8% stake is worth 205 million euros.

The privately-owned company did not say whether it intends to buy more shares in Indra and spokespeople for the company did not immediately return phone calls seeking comment.

Indra, which in August bought a 9.5% stake in Spanish aircraft engine manufacturer ITP Aero, aims to become a driving force of the Spanish defence industry and gain weight in the European military sector, where it competes with rivals such as France's Thales and Italy's Leonardo.

Indra's strategic relevance has increased since Russia's invasion of Ukraine as Spain has promised to boost its defence spending as required by NATO in the coming years.

Spanish state holding company SEPI is Indra's largest shareholder with a 25.16% stake.

Escribano, founded in 1989, exports to more than 25 countries and plans to close 2023 with 120 million euros in revenue.

($1 = 0.9168 euros) (Reporting by Matteo Allievi, editing by Inti Landauro; editing by David Evans)