By NIVEDITA Bhattacharjee
Bengaluru (Reuters) -Airbus, Collins Aerospace, Pratt & Whitney and Rolls -Royce are expanding parts that from India Sourcing, stimulate growth in the emerging space sector of the country and push local companies to elevate their games, industry -insiders say.
Hical Technologies and JJG Aero, based on Bengaluru, belong to those who ride the Golf. Hical, including a supplier of Raytheon Technology and Boeing, is intended to double the turnover to 5 billion rupees ($ 57.57 million) of his space departure in three years, said Yashas Jahaseer Shashikiran, joint director.
JJG Aero, also in Bengaluru’s industrial hub, took 12 years to achieve $ 2 million in income, but rose to $ 20 million in the last six, said CEO Anuj Jhunjhunwala.
The growth is part of an Asia-Pacific Aerospace Surge, with a turnover of 2024 it is expected to be 54% higher than 2019, while North America and Europe remain 3% and 4% lower, according to Accenture Research.
“We previously hunted customers. Now they are just as interested in evaluating Indian machine workshops, “said Jhunjhunwala, adding that contracts were signed faster and that processes were done much faster than ever before.
The companies produce parts for landing gear, wings, hull, electrical switches and motion control systems that are essential for flight safety and performance.
Leading Western aircraft and motorcycle manufacturers, whose output is limited by strikes, production caps and parts and labor shortages since the pandemic, say that they want to take care of more from India to meet the increasing demand for air travel.
“India is the best solution for the challenges of the supply chain,” said Huw Morgan, senior vice president for purchasing space travel at Rolls-Royce, last week during an industrial event.
“Our engine volumes grow by around 20% and the traditional supply chains simply cannot support it,” said Morgan. “India is … the best cost market.”
The British company is planning to double from India within five years.
The country is one of the largest buyers of aircraft in the world, but according to the recently formed Aerospace India Association, only 1% of the global Supply Chain market.
“Post-Covid has reached the global space industry a bending point. Although this shift began in 2020, Aerospace is a slowly moving industry-it takes time for changes to materialize,” said Aravind Melligeri of supplier Aequs.
More planes, more parts
India, the world’s third largest domestic aviation market due to seats, is also one of the fastest growing, stimulating demand for maintenance services and parts.
