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Strategic Analysis of Indian Aircraft Component Manufacturing and Services Industry
Frost & Sullivan, Nov 2011, Pages: 87
This Frost & Sullivan research service titled Strategic Analysis of Indian Aircraft Component Manufacturing and Services Industry provides current market size, forecasts and the key market drivers and restraints. In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets: component manufacturers and service providers (engineering service providers and maintenance, repair, and overhaul (MRO) operations providers).
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Market Overview
Aircraft Component Manufacturing and Services Industry Revenues to Double from $2.09 billion in 2010 to $4.56 billion by 2015
Industry to Get a Huge Fillip from Defense Offsets, which are Expected to Generate $40.00 billion over the Next 20 Years
Growing domestic demand for civil as well as military aircraft coupled with the defense offsets is fuelling the growth of the Indian aircraft manufacturing and services industry. Beating back spirited competition from Latin America, India remains an attractive low-cost manufacturing destination with a huge engineering talent pool and proven IT capabilities. However, the domestic industry has stay on its toes to remain the manufacturing hub of choice. Its lack of MRO companies with globally recognized certifications and inadequate expertise in providing end-to-end solutions could narrow the gap between the Indian industry and some of the low labor-cost Latin American countries, primarily Mexico and Chile. “North American aerospace companies prefer to set up their low-cost base in South America due to the lower wages, initiatives by a proactive government, bilateral aviation safety agreements with the United States, increasing talent pool, and geographical vicinity,” says the analyst of this research. “India is hoping to retain its edge in the global market by leveraging its Defense Procurement Offset Policy, which is expected to bring in manufacturing orders from global defense firms.”
The Government’s inclusion of civil aerospace products in the offset eligibility list will widen the spectrum of outsourced work and extend the benefits to a larger section of domestic industry participants. Government spending on foreign procurement as a part of armed forces modernization also creates huge offset opportunities. “The Government is expected to spend approximately $54 billion on defense procurement from foreign vendors during 2011-2015,” notes the analyst. “As a part of a 30 percent offset, winning vendors are anticipated to source components and/or services worth $18 billion from the Indian aircraft component manufacturing and services industry.” Further, the offset policies could potentially generate $40.00 billion over the next 20 years. This will open doors for Indian manufacturers that are keen to enter the high-tech arena of aerospace manufacturing and offer them guaranteed returns on their investment.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
Component manufacturers
Service providers
Engineering service providersMRO operations providers
This research service analyzes the growth of Indian aircraft component manufacturing and services industry while also discussing the existing and possible opportunity areas. The study includes a brief overview evolution of manufacturing value chain and emergence of India in global aircraft industry. Then study presents emerging trends, PESTLE factors, Government initiatives in India and discusses in detail the drivers, restraints and challenges faced by the industry. The three key segments of the industry, namely the engineering services, component manufacturing and MRO are discussed in detail with profiling of major participants and revenue forecasts.
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