The article has discussed the features of the formation and development of the industrial sphere in the territory of today's Ukraine, considering the cyclical nature of the passage of socio-economic processes, starting from the time of the fall of the feudal system and the transition to capitalist relations (second half of the 19th century). The evolution of the formation of the fuel and metallurgical base in the Dnieper and Donbas’s with the participation of foreign capital has been investigated. The main priorities of centralized management and planning during the five-year period of accelerated industrialization (1928-1932) have been described. The achievements of the Ukrainian industry on the eve of the independence of the state (1991) have been emphasized - from mining to the creation of high-tech industries (space, aviation, shipbuilding, transport engineering, etc.). The problems of the industrial complex functioning (deindustrialization of the economy, a shortage of qualified personnel, critical dependence on the export of raw materials, low resource efficiency, etc.) has been analyzed. The theoretical foundations of the industrial policy formation in the conditions of transformation processes in the economy, the convergence of economic models of Ukraine and the EU countries have been improved. The international best practice of managing changes in the industrial sphere in the conditions of competition, strengthening manifestations of protectionism in the world market has been summarized. Measures have been developed to enhance the process of entering domestic enterprises to the global added value chains, which will contribute to expanding access to international markets, attracting FDI, and modernizing technologies. The expediency of introducing effective organizational forms of supporting business projects and innovations in the industry, increasing responsibility for the development, adoption, and implementation of engineering, business and management decisions has been substantiated. Recommendations on improving the national industrial policy with a focus on the comprehensive and sustainable development of industrial production to further strengthen the economic security of the state have been proposed.