The Aerospace and Defence (A&D) market in India is estimated to reach around $70 billion by 2030 as the momentum is expected to further pick up with improving infrastructure and government thrust. The growth of airlines and passenger traffic in India has been highly rapid in the past five years at over 15 percent per year and this has increased from around 70 to 200 million passengers in the past 10 years in domestic and international air travel. Further, the number of flyers from India for international travel is also estimated to be around 100 million last year which indicates high demand for airline services and seats.

From a single carrier, viz. Air India /Indian Airlines until the 1990s, today there are strong private airlines like Indigo, Jet, Go Air, Vistara etc. which are competing for a share in the rapidly growing market pie. This is giving rise to unprecedented demand for new airplanes with all airlines placing large orders for airplanes over the next five years to meet the growing needs of the domestic and international Indian traveler. This growth trend is expected to continue strongly in future years as the economy develops and fuels the demand from a growing middle class for air travel for tourism, business, other visits etc.

There is large growth expected for smaller aircraft, business jets, helicopters etc. for regional connectivity and faster movement as the demand from business and other travelers increases with economic growth.

Component manufacturing

This makes a strong case for global OEMs and their suppliers to examine India as a destination to play a vital role in the global supply chain for aerospace components and parts. There could be several advantages to gain from the low costs in India along with the technical and engineering expertise / skills available for high-precision and high-quality components. What has been witnessed in the automobile components and auto (small car) industry can very well be replicated for aerospace and related components and services.

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