Airbus, Collins Aerospace, Pratt & Whitney, and Rolls-Royce Expand Parts Sourcing from India

India's emerging aerospace sector is gaining momentum as Airbus, Collins Aerospace, Pratt & Whitney, and Rolls-Royce increase their sourcing of parts from the country. This growth is driving local firms to enhance their capabilities and compete on a global scale.

Indian Success Stories:

* Bengaluru-based Hical Technologies aims to double its aerospace revenue to $57.57 million within three years.
* JJG Aero, also located in Bengaluru, has experienced exponential revenue growth, surpassing $20 million in the past six years.

Asia-Pacific Aerospace Surge:

This growth is part of a broader surge in the Asia-Pacific aerospace market, with revenue projected to reach 54% above 2019 levels by 2024. In contrast, North America and Europe continue to lag behind.

Increased Indian Supplier Interest:

Leading Western aircraft and engine manufacturers are now actively seeking Indian suppliers to meet the rising demand for air travel.

India as the "Best Solution":

Rolls-Royce's Huw Morgan has declared India as the "best solution" to supply chain challenges, particularly given its cost-effectiveness and growing demand for air travel.

India's Emerging Role:

Despite being a major aircraft buyer, India currently accounts for only 1% of the global supply chain market. However, the country is positioned to capture a significant share within the next decade.

Industry Collaboration:

The Aerospace India Association (AIA) is facilitating collaboration between Indian and global firms, with a focus on enhancing local manufacturing capabilities.

Future Outlook:

India's aerospace industry is poised for continued growth, with estimates projecting a 10% market share by 2033. The country's competitive workforce and strategic advantages are expected to drive this expansion.