diff --git a/packages/angular_devkit/build_angular/src/builders/application/execute-build.ts b/packages/angular_devkit/build_angular/src/builders/application/execute-build.ts
index a5884a45af12..d039c51724f0 100644
--- a/packages/angular_devkit/build_angular/src/builders/application/execute-build.ts
+++ b/packages/angular_devkit/build_angular/src/builders/application/execute-build.ts
@@ -168,6 +168,15 @@ export async function executeBuild(
     return executionResult;
   }
 
+  // Analyze external imports if external options are enabled
+  if (options.externalPackages || options.externalDependencies?.length) {
+    // TODO: Filter externalImports to generate second argument to support wildcard externalDependency values
+    executionResult.setExternalMetadata(
+      [...bundlingResult.externalImports],
+      options.externalDependencies,
+    );
+  }
+
   const { metafile, initialFiles, outputFiles } = bundlingResult;
 
   executionResult.outputFiles.push(...outputFiles);
diff --git a/packages/angular_devkit/build_angular/src/builders/dev-server/vite-server.ts b/packages/angular_devkit/build_angular/src/builders/dev-server/vite-server.ts
index adc28d991f7a..59d8f42292a3 100644
--- a/packages/angular_devkit/build_angular/src/builders/dev-server/vite-server.ts
+++ b/packages/angular_devkit/build_angular/src/builders/dev-server/vite-server.ts
@@ -115,6 +115,10 @@ export async function* serveWithVite(
   let hadError = false;
   const generatedFiles = new Map<string, OutputFileRecord>();
   const assetFiles = new Map<string, string>();
+  const externalMetadata: { implicit: string[]; explicit: string[] } = {
+    implicit: [],
+    explicit: [],
+  };
   const build =
     builderName === '@angular-devkit/build-angular:application'
       ? buildApplicationInternal
@@ -166,6 +170,15 @@ export async function* serveWithVite(
       }
     }
 
+    // To avoid disconnecting the array objects from the option, these arrays need to be mutated
+    // instead of replaced.
+    if (result.externalMetadata.explicit) {
+      externalMetadata.explicit.push(...result.externalMetadata.explicit);
+    }
+    if (result.externalMetadata.implicit) {
+      externalMetadata.implicit.push(...result.externalMetadata.implicit);
+    }
+
     if (server) {
       handleUpdate(generatedFiles, server, serverOptions, context.logger);
     } else {
@@ -185,7 +198,7 @@ export async function* serveWithVite(
         generatedFiles,
         assetFiles,
         browserOptions.preserveSymlinks,
-        browserOptions.externalDependencies,
+        externalMetadata,
         !!browserOptions.ssr,
         prebundleTransformer,
         target,
@@ -336,7 +349,7 @@ export async function setupServer(
   outputFiles: Map<string, OutputFileRecord>,
   assets: Map<string, string>,
   preserveSymlinks: boolean | undefined,
-  prebundleExclude: string[] | undefined,
+  externalMetadata: { implicit: string[]; explicit: string[] },
   ssr: boolean,
   prebundleTransformer: JavaScriptTransformer,
   target: string[],
@@ -381,7 +394,7 @@ export async function setupServer(
     },
     ssr: {
       // Exclude any provided dependencies (currently build defined externals)
-      external: prebundleExclude,
+      external: externalMetadata.implicit,
     },
     plugins: [
       createAngularLocaleDataPlugin(),
@@ -598,8 +611,10 @@ export async function setupServer(
     optimizeDeps: {
       // Only enable with caching since it causes prebundle dependencies to be cached
       disabled: !serverOptions.cacheOptions.enabled,
-      // Exclude any provided dependencies (currently build defined externals)
-      exclude: prebundleExclude,
+      // Exclude any explicitly defined dependencies (currently build defined externals)
+      exclude: externalMetadata.explicit,
+      // Include all implict dependencies from the external packages internal option
+      include: externalMetadata.implicit,
       // Skip automatic file-based entry point discovery
       entries: [],
       // Add an esbuild plugin to run the Angular linker on dependencies
diff --git a/packages/angular_devkit/build_angular/src/tools/esbuild/bundler-context.ts b/packages/angular_devkit/build_angular/src/tools/esbuild/bundler-context.ts
index ef0d8f76aaf2..dcdaa260ad65 100644
--- a/packages/angular_devkit/build_angular/src/tools/esbuild/bundler-context.ts
+++ b/packages/angular_devkit/build_angular/src/tools/esbuild/bundler-context.ts
@@ -28,6 +28,7 @@ export type BundleContextResult =
       metafile: Metafile;
       outputFiles: BuildOutputFile[];
       initialFiles: Map<string, InitialFileRecord>;
+      externalImports: Set<string>;
     };
 
 export interface InitialFileRecord {
@@ -100,6 +101,7 @@ export class BundlerContext {
     const warnings: Message[] = [];
     const metafile: Metafile = { inputs: {}, outputs: {} };
     const initialFiles = new Map<string, InitialFileRecord>();
+    const externalImports = new Set<string>();
     const outputFiles = [];
     for (const result of individualResults) {
       warnings.push(...result.warnings);
@@ -117,6 +119,7 @@ export class BundlerContext {
 
       result.initialFiles.forEach((value, key) => initialFiles.set(key, value));
       outputFiles.push(...result.outputFiles);
+      result.externalImports.forEach((value) => externalImports.add(value));
     }
 
     if (errors !== undefined) {
@@ -129,6 +132,7 @@ export class BundlerContext {
       metafile,
       initialFiles,
       outputFiles,
+      externalImports,
     };
   }
 
@@ -258,6 +262,20 @@ export class BundlerContext {
       }
     }
 
+    // Collect all external package names
+    const externalImports = new Set<string>();
+    for (const { imports } of Object.values(result.metafile.outputs)) {
+      for (const importData of imports) {
+        if (
+          !importData.external ||
+          (importData.kind !== 'import-statement' && importData.kind !== 'dynamic-import')
+        ) {
+          continue;
+        }
+        externalImports.add(importData.path);
+      }
+    }
+
     const outputFiles = result.outputFiles.map((file) => {
       let fileType: BuildOutputFileType;
       if (dirname(file.path) === 'media') {
@@ -277,6 +295,7 @@ export class BundlerContext {
       ...result,
       outputFiles,
       initialFiles,
+      externalImports,
       errors: undefined,
     };
   }
diff --git a/packages/angular_devkit/build_angular/src/tools/esbuild/bundler-execution-result.ts b/packages/angular_devkit/build_angular/src/tools/esbuild/bundler-execution-result.ts
index 55840967d48d..4626f723c7eb 100644
--- a/packages/angular_devkit/build_angular/src/tools/esbuild/bundler-execution-result.ts
+++ b/packages/angular_devkit/build_angular/src/tools/esbuild/bundler-execution-result.ts
@@ -30,6 +30,7 @@ export class ExecutionResult {
   outputFiles: BuildOutputFile[] = [];
   assetFiles: BuildOutputAsset[] = [];
   errors: Message[] = [];
+  externalMetadata?: { implicit: string[]; explicit?: string[] };
 
   constructor(
     private rebuildContexts: BundlerContext[],
@@ -48,6 +49,16 @@ export class ExecutionResult {
     this.errors.push(...errors);
   }
 
+  /**
+   * Add external JavaScript import metadata to the result. This is currently used
+   * by the development server to optimize the prebundling process.
+   * @param implicit External dependencies due to the external packages option.
+   * @param explicit External dependencies due to explicit project configuration.
+   */
+  setExternalMetadata(implicit: string[], explicit: string[] | undefined) {
+    this.externalMetadata = { implicit, explicit };
+  }
+
   get output() {
     return {
       success: this.errors.length === 0,
@@ -60,6 +71,7 @@ export class ExecutionResult {
       outputFiles: this.outputFiles,
       assetFiles: this.assetFiles,
       errors: this.errors,
+      externalMetadata: this.externalMetadata,
     };
   }