| |June 20195The aerospace industry in India is one of the fastest-growing aerospace markets. Several research and estimates have predicted an exciting future for the industry. AS per reports, in the next 10 years, an estimated, INR 5 lakh crore ($ 100 billion) will be invested on acquisitions in the aerospace and defence sector in India. India is poised to become a large commercial and defense aircraft market. With rising passenger traffic and increasing military and defense expenditures, the demand for aircrafts is expected to increase. Boeing expects a demand of between 900 to 1,000 commercial aircraft worth USD100 billion approximately in the next 20 years. This also suggests that a significant portion of business opportunity could develop in India, due to the associated offsets.The massive growth of the industry has attracted original equipment manufacturers (OEMs) in this sector to setup facilities in India. There are a number of government and industry initiatives, new research facilities and start ups being established driving innovation in new aviation electronics technologies being developed in India. India is internationally competitive with international quality standards, efficiency and manufacturing facilities and is fast developing into a manufacturing hub for world corporations. These capabilities have been recognized and harnessed by foreign companies outsourcing manufacturing work to India. In the future, a potential opportunity exists in demonstrating India's expertise in the process beginning right from initial design and ending with the final manufacture; this is where India's real and sustainable advantage exists.There are huge opportunities for collaboration and creation of joint ventures in the aerospace sector in India for establishing Maintenance Repair Overhaul (MRO) facilities for civil and military aircraft, overhaul and maintenance of aero engines and production of avionics, components and accessories. This shows that India is fast emerging as a center for engineering and design services.Do let us know your thoughts.Nandini MukherjeeManaging EditorThe Rapid Growth of the Aerospace industryVol 1 · Issue 2 · June, 2019 Publisher Alok ChaturvediManaging Editor Nandini Mukherjee Editorial TeamAmit Raja Naik John Roshan AntoMonica Pallavi J Aparna Roy Group Art Director Ashok Kumar Visualisers ManjunathSiva Shankarsales@theindustryoutlook.com Editorial Querieseditor@theindustryoutlook.comCirculation Manager Magendran PerumalCover price is Rs. 150 per issue.Printed and Published By Alok Chaturvedi on behalf of Siliconmedia Technologies Pvt Ltd and Printed at Precision Fototype Services at Sri Sabari Shopping Complex, 24 Residency Road Bangalore-560025 and Published At No. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugeshpalya, Bangalore-560017.Editor Alok ChaturvediCopyright © 2019 SiliconMedia Technologies Pvt Ltd, All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher.
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