READY TO TAKE-OFF
Indian auto component industry was on the radar of the global vehicle manufacturers for its inherent strength, improving quality and other advantages. Now the component industry is cruising at a high speed by manufacturing high-value and critical parts for the global aircraft manufacturers. The Indian private sector aerospace industry is still at a nascent stage as it has been dominated by the public sector. The private sector, acting in association with the PSUs and multinational companies, is supplying directly and indirectly to the OEMs and Tier-1 suppliers. From this advantageous ground the Indian aerospace industry is ready to take-off. It is once again on the global radar, though for a different reason - for aircraft or spacecraft components.
Aerospace components primarily include aircraft engines and engine parts, fuselage, propeller and rotor, landing gear, electric and hydraulic control, and avionics systems. Demand for parts is driven by new orders for commercial, military, and general aviation aircraft, as well as maintenance, repair, and overhaul (MRO) services. As India emerges as one of the growing aviation markets in the world, leading aircraft makers are eyeing the country as a global sourcing base for aircraft components and software.
Moreover Airbus and Boeing have established their R&D centres in Bengaluru and are relying on Indian information technology firms like Infosys, Wipro, and HCL for engineering and software requirements. Companies like HAL and Tata Industries Limited are supplying aircraft components. The current global Aerospace market is over US$500 billion and more than 80% of the aerospace manufacturing industry is outsourced, especially from India. Most of the auto component manufacturers are diversifying into aerospace component manufacturing and exporting components across the globe. Wherever there is an auto hub the government is setting up an aerospace park to work on synergies.
The global aviation industry is eyeing the Indian market and scouting for outsourcing aerospace and defence products as India is emerging fast as a centre for engineering and design services. Companies, like the Bengaluru-based Sansera Engineering Pvt Ltd, have started getting direct orders from The Boeing Company, the US multinational corporation that designs, manufactures and sells aircraft, rotocraft, rockets and satellites world-wide. This is the main reason for Auto ComponentsIndia to bring out a special issue on Aerospaceindustry. In this edition we are highlighting some of the corporate efforts in the Indian aerospace manufacturing space.
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