Bangalore Based Aerospace Firms Bullish On Plans Of Global Aircraft Manufacturers

ENA Sectors 2025-02-18 16:29:49 Bengaluru, Feb 18 (KNN) Bengaluru-based aerospace firms, Hical Technologies and JJG Aero, are at the forefront of India's growing presence in the global aerospace supply chain. As Western manufacturers face supply chain constraints, Indian companies are stepping up to meet demand. Hical Technologies, a supplier to Raytheon Technologies and Boeing, aims to double its aerospace division revenue to Rs 5 billion (USD 57.57 million) within three years, said Yashas Jaiveer Shashikiran, joint managing director. Similarly, JJG Aero, which took 12 years to reach USD 2 million in revenue, has surged to USD 20 million in the last six years, according to CEO Anuj Jhunjhunwala. The expansion aligns with an Asia-Pacific aerospace boom, with 2024 revenue projected to be 54 per cent above 2019 levels, while North America and Europe remain below pre-pandemic levels, according to Accenture Research. Earlier, we were chasing customers. Now, they are equally interested in evaluating Indian machine shops, Jhunjhunwala said, noting faster contract signings and onboarding. These companies manufacture critical aircraft components, including landing gear, fuselage, wings, electrical switches, and motion control systems. Western manufacturers, struggling with labour shortages and production caps, are increasingly looking to India to meet rising demand. Rolls-Royce Senior Vice President Huw Morgan recently stated, India is the best solution to supply chain challenges, adding that the company plans to double sourcing from India within five years. Despite being one of the largest aircraft buyers, India accounts for only 1 per cent of the global aerospace supply chain market. However, the Aerospace India Association (AIA) believes the country is poised for rapid growth. Airbus recently awarded its second aircraft door contract to Indian suppliers within a year. India contributes more than €1 billion to Airbus' supply chain, and we expect to double that, said Michel Narchi, head of international operations at Airbus. Indias civil aviation ministry is also working to boost component manufacturing. AIA Director General Srinivasan Dwarakanath highlighted the need for local raw material sourcing and design certification. The AIA estimates India will capture 10 per cent of the global aerospace market by 2033, marking a new era for the nations aviation industry. (KNN Bureau) 41114 https://knnindia.co.in/news/newsdetails/sectors/bangalore-based-aerospace-firms-bullish-on-plans-of-global-aircraft-manufacturers 2025-02-18 16:29:49 knnindia.co.in Bangalore Based Aerospace Firms Bullish On Plans Of Global Aircraft Manufacturers