Summary:

India's aerospace sector is rapidly growing as global companies like Airbus, Collins Aerospace, Pratt & Whitney, and Rolls-Royce source more parts from the country. Bengaluru-based Hical Technologies aims to double its aerospace revenue to Rs. 500 crore (US$ 57.57 million) in three years, while JJG Aero’s revenue has surged from Rs. 17 crore to Rs. 174 crore in six years. This growth aligns with an Asia-Pacific aerospace boom, driven by supply chain disruptions in Western markets.

India, the third-largest domestic aviation market, is driving demand for maintenance and aerospace components. With large aircraft orders from IndiGo and Air India, suppliers are expanding into design and engineering. The Aerospace India Association and civil aviation ministry push for local sourcing, targeting 10% of the global aerospace market by 2033.

Source: IBEF  

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