Godrej Aerospace forecasts 100 percent surge in civil aviation in next 3 years
June 21, 2023 11:27 am
The company’s growth trajectory is poised to be fueled by its unwavering commitment to innovation and expanded exports, particularly targeting the European market.
Godrej Aerospace, a division of Godrej & Boyce anticipates a surge of over 100 percent in the civil aviation sector over the upcoming three-year period. The company’s growth trajectory is poised to be fueled by its unwavering commitment to innovation and expanded exports, particularly targeting the European market. By actively engaging in the esteemed Paris Air Show, taking place from June 19th to June 25th, 2023, at the Paris Le Bourget Exhibition Centre, Godrej Aerospace aims to forge strategic alliances with international partners, cementing its position as a prominent global contender.
Considering the growing opportunities in the civil aviation and space sector, Godrej Aerospace is actively capitalizing on international market trends. The industry’s upward trajectory, particularly the demand for single-aisle aircraft and their engines, presents a favourable market environment. In FY23, Godrej Aerospace reported Euro 10 million revenue in the civil aviation segment.
Godrej Aerospace has secured significant new orders, particularly in sheet metal brackets, complex fabrications, tubings, and ducting, which will serve as the foundation for its growth trajectory. These orders present tremendous opportunities to expand its customer base and strengthen its foothold in the civil aviation sector internationally.
Maneck Behramkamdin, AVP & Business Head, Godrej Aerospace said, “The aviation sector, working towards recovering from a severe economic crisis, is now exhibiting indications of confidence. Global OEMs are opening avenues for partnering with Indian manufacturers. Considering the recent economic recovery, we are projecting 100% growth in the next three years in the civil aviation segment and expect this to revive further as exports grow in key markets.”
The company’s commitment to technological excellence and customer satisfaction has set it apart from global competitors. In addition to its growth projections, Godrej Aerospace is excited to announce the establishment of a new Centre of Excellence for Tubes & Ducts in 2023, alongside its existing Centre of Excellence for Brackets. This strategic initiative reflects the company’s dedication to innovation and self-reliance, empowering it to develop cutting-edge solutions indigenously for civil aviation and export.