Indian industry today is on the threshold of entering into a new era where it will assume greater responsibility in making the nation self-reliant in aerospace and defense production. This sector is one of the fastest growing aerospace markets in the world with an expanding consumer base comprising airlines, businesses and high –net-worth individuals.
Indian aerospace and defense sector is internationally competitive with international quality standards, efficiency and manufacturing facilities. This sector has proven its skills in product design, reconfiguration and customization with creativity, assured quality and value addition. There are enormous potential and huge opportunities for collaboration and creation of joint ventures in the aerospace sector in India for establishing various facilities for civil and military aircraft, overhaul and maintenance of aero-engines and production of avionics, components and accessories both in civil and military aviation sectors.
Major global aviation industry are already eyeing the local market in India and scouting for outsourcing aerospace and defense products as India is fast emerging as a centre for engineering and design services. India has a pool of qualified engineering, science and computing graduates, availability of high- tech / precision equipment, materials and consumables, established production systems, a strong IT industry, world class educational institutions, a good network of aeronautical development labs, favorable geographical location and manufacturing cost advantage.
The aerospace industry is, therefore, set to contribute substantially to India’s economic growth and job industry.
