India is already a large commercial and defence aircraft market. With rising passenger traffic, increasing military and defence expenditures, the demand for aircrafts is expected to increase further; allowing the aerospace industry to set in motion. The industry is currently at a turning point and is expected to become the third largest aerospace industry by 2020. Driving the change are the revised regulatory framework combined with cutting-edge tech initiatives such as biometric self-boarding, in-flight connectivity, introduction of Artificial Intelligence, Machine Learning, Data Analytics and Robotics.
The robust growth potential of the industry has attracted original equipment manufacturers (OEMs) in this sector to setup facilities in India. Also, in the recent years, there are a number of government and industry initiatives, new research facilities and companies being established driving innovation in new aviation electronics technologies being developed in India.
These aerospace companies play a vital role in the Defence aviation of India through design, manufacture and overhaul of fighters, trainers, helicopters, transport aircraft, engines, avionics and system equipments. In fact, they associate with existing industrial partners to raise the bar to deliver world-class quality, cost-efficiency and productivity as they become an important part of the company's worldwide supply chain for some of the most innovative products in the world. Their capabilities have been recognized and harnessed by foreign companies outsourcing manufacturing work to India.
Taking into account the aggrandizement of the aerospace industry, we decided to chronicle the participation and contributions of the leading grandees in IndustryOutlook's fourth edition. We intend to throw some light on the 21st century aerospace ecosystem highlighting its current state of affairs, capability gaps, and the endeavors to overcome the challenges in order to match the global potentiality levels. Hereafter, we bring you the stories of our Indian folks who are flying high and shaping up the industry.
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