Propelling Aviation Growth Forward

The aerospace and aviation components market in India is growing significantly now on the back of supportive government policies, rising demand within the country and the prevalent industry trends. The Indian government has played a key role in such development through policies such as Make in India that seeks to promote manufacturing within the country and, therefore, minimize the importation of products. This particular initiative has helped in achieving high FDI, and it has led to the setting up of manufacturing companies by the international aerospace companies. There is increasing demand for purchase of aviation components from domestic sources due to the rapid growth of the civil aviation industry in India.

Technological developments are another factor that is putting much pressure on the sector. Currently, there is a great emphasis on the improvement of the technological base of Indian companies that seek to offer high-quality products to the global market. In the case of aerospace components, aspects such as the use of superior materials, efficiency in engineering, and the application of automated processes have enhanced the quality of the components produced in India. Outsourcing from international aerospace firms for license and product sharing deals has also supplemented the capacities of the Indian makers. The defense sector is another large contributor towards the growth of market of aerospace components in India. As the government continues to push for indigenization and self-reliance on defense production, there is increased demand for manufacturing aerospace parts for military aircrafts, helicopters, and unmanned aerial vehicles.

In the current issue, we introduce you to the top companies in this segment. In this issue, Industry Outlook has identified the select few companies that have done particularly well in this industry with a high level of dedication. We have found that these companies have gone the extra mile in proving their commitment to meet the customer needs in an integrated manner.

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