Fuelling aerospace and defence with metal forming innovations

By OEM Update Editorial April 10, 2020 12:28 pm IST

Achieving manufacturing growth in aerospace and defence is strewn with numerous challenges. The union government is establishing two defence industrial corridors to enable growth in the defence market.

Access to innovations in technology is highly critical for aerospace and defence industries to develop and bridge the gaps with Europe and North America. Aerospace and defence manufacturing serve different market segments and are vital for the security and self-sustenance of India. While aerospace manufacturing encompasses production, maintenance, repair and overhaul (MRO) and sales for civil and defence applications, defence manufacturing includes the production of defence equipment, platforms, systems, and subsystems. The twin sectors hold substantial possibilities for rearing upstream and downstream investment prospects.

Both aerospace and defence sectors have been earmarked for development and manufacturing growth by the Government of India. Indian aerospace industry is growing at a rapid pace with rocket production and an increase in the number of satellites launched by ISRO. India is prepping up to launch its own private rocket led by a consortium of private organisations.

The defence sector was opened up for private sector participation through licencing. The union government is establishing two defence industrial corridors to enable the growth of the defence market. An innovation ecosystem for defence was launched in April 2018 to foster innovation and technology development in defence and aerospace by engaging industries, research and development institutes, and academia. Also, FDI is allowed under the automatic route up to 49 percent and beyond 49 percent through the government route.

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