Airbus, Collins Aerospace, Pratt & Whitney, and Rolls-Royce are expanding parts sourcing from India. Growth is part of an Indo-Pacific aerospace surge, with 2024 revenue projected to be 54% above 2019 levels. North America and Europe remain 3% and 4% lower, according to Accenture Research. India is among the biggest aircraft buyers in the world, yet accounts for only 1% of the global supply chain market, says the Aerospace India Association (AIA) The AIA estimates that India’s aerospace industry will capture 10% of a $250 billion global market within a decade, with the global market projected to reach $250billion annually by 2033. The country’s civil aviation ministry held a meeting last week with industry leaders about boosting component manufacturing, said AIA Director General Srinivasan Dwarakanath. The meeting took place in Bengaluru’s industrial hub, where Hical Technologies and JJG Aero are among those riding the wave. It took 12 years to hit $2 million in revenue but soared to $20 million in the last six, said CEO Anuj Jhunjhunwala. The companies produce parts for landing gear, wings, fuselage, electrical switches and motion control systems essential for flight safety and performance.
