SOURCE: AFI
Fueled by a surge in orders from domestic airlines, Indian aerospace manufacturers are experiencing a positive outlook. This growth, coupled with government initiatives, is propelling the industry forward.
A significant boost came when Air India placed substantial aircraft orders. Additionally, Airbus, a leading international manufacturer, expressed interest in expanding its supplier base in India, aiming to diversify its sales currency. This presents a lucrative opportunity for Indian companies to secure a larger share of the global aerospace supply chain.
Aviation consultancy firm CAPA estimates that IndiGo, Air India, and Akasa currently have a combined order book of nearly 1,700 aircraft from Airbus and Boeing. This number is expected to reach close to 2,000 by March 2025, signifying a substantial increase. To capitalize on this growth, Indian aerospace manufacturers are seeking government support through policy initiatives. These initiatives could involve measures to streamline manufacturing processes, incentivize research and development, and enhance skill development in the sector.
By capitalizing on this opportunity, India can not only cater to its own growing aviation market but also emerge as a significant player in the global aerospace industry.