Page 28 - STAT May 2024 for Magzter

specialreport

GROWING

IMPORTANCE

OF INDIA IN

AEROSPACE

MANUFACTURING

AND SUPPLY

CHAINS

India is rapidly emerging as a
global aerospace powerhouse,
luring aviation giants with
its skilled talent and cost-
efficacy. Major players like
Boeing, Airbus, and GE are
expanding Indian operations,
fostering a thriving ecosystem
of domestic suppliers feeding
into global supply chains.

Parijat Sourabh

ver the past decade, India has talent pool and significantly lower operating growth over the past three decades,
rapidly emerged as a major costs, has become an attractive destination. contributing to 90% of South Asia's total
player in the global aerospace Major multinational aerospace com- economic output. The country boasts a
Oindustry, attracting leading panies like Boeing, Airbus, and GE have skilled workforce, a growing economy,
companies to establish manufacturing already set up manufacturing plants, and a burgeoning aerospace ecosystem,”
facilities and integrated supply chains engineering centres, and supply chain says Salil Gupte, President of Boeing India
within its borders. The country's cost- operations in India. For instance, Boeing's and South Asia.
competitiveness, skilled workforce, and facility in Bengaluru is now a major hub “With a presence spanning over eight
favourable government policies have for manufacturing advanced composite decades, our investments in India reflect
positioned it as an increasingly vital hub floor beams for the company's commercial our confidence in the country's potential for
for aerospace production. aircraft programmes. Similarly, Airbus has growth and innovation. Additionally, the fa-
Historically, the aerospace industry has also fostered strategic partnerships with vourable policies and initiatives to promote
been dominated by a handful of countries Indian companies to build a robust supply aerospace manufacturing and technology
like the U.S., France, and the UK. However, chain network. further reinforce our decision to continue
rising labour costs and a growing need for “The Indian market is incomparable to investing in building the ecosystem. Boeing
diversification have prompted aerospace any other market as it has a unique blend will continue to invest in local manufactur-
giants to look for alternative locations. India, of particularly attractive things. India's ing, co-production, co-development, skill
with its large, English-speaking engineering economy has experienced remarkable enhancement, and innovation initiatives to
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