India’s aerospace industry has experienced significant growth over the last five years. Aircraft consumption in India is expected to continue its growth momentum, reaching roughly US $24 billion by 2016 with a CAGR of 15% over the next five years. All segments of the Indian aerospace industry grew substantially, with the OEM market registering maximum growth of approximately 20% CAGR over the last five years.
Lucintel, a leading global Management Consulting and market research firm, has analyzed the Indian aerospace supply chain and presents its findings in its report, “Indian Aerospace Supply Chain Market: 2011.”
High domestic demand of aircraft, introduction of the defense offset policy in 2006 have provided immense opportunities for companies entering this sector. Lucintel’s research indicates that over the next five years, the Indian offset market is expected to witness double-digit growth and reach new highs over the next 10 years primarily driven by India’s procurement plans.
The Indian aerospace supply chain is sustaining strong growth through joint ventures (JVs) and partnerships with foreign aerospace players. Low labor costs, coupled with IT competitiveness, is creating JV and partnership opportunities for Indian aerospace supply chain players with global aerospace majors such as Boeing and Airbus for various systems and subsystems manufacturing.
India’s Maintenance, Repair and Overhaul (MRO) sector is witnessing increasing interest from foreign and domestic players. Boeing has recently set up its MRO unit in India. Various others companies such as Airbus and Dassault are planning to set up MRO units in India.
Lucintel’s report, which provides trend scenarios and forecast statistics for through 2016, details the industry’s drivers and challenges; market opportunities at OEM, Tier 1, and Tier 2 levels; supply chain analysis; JV/partnership opportunities in Indian aerospace supply chain; and demand and supply scenarios of the Indian aerospace industry. The report also evaluates Indian aerospace supply chain through SWOT and PEST analysis and more.
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