Sept 21, 2011
India’s aerospace and defense exports continue to rise steadily. Official figures for the period 2010-11 (April –December) support the projection that exports will touch the $2billion mark by the end of the year.
The forecast was made in a February publication India’s Aerospace Exports –Finally delivering on promise.
According to think tank, Aviotech Advisory, aircraft component parts have kept pace with last year and are the biggest contributors – comprising 96% of all exports. This clearly shows the development of Indian manufacturing capability in aerospace tilting towards tier1/2and3 suppliers and not towards aircraft OEMs.
Significant growth has been seen in the commodity segment of vessels including warships. The figures reported for the first three quarters of FY2011 show a total export of $414million,nearly double of the exports registered in FY2010 when the figure was $213million.
It is important to note that this sector has also started witnessing large public–private JVs coinciding with the completion of major shipyards which currently carry significant order backlogs. The sector appears poised to benefit from strong economic indicators as well as a consistently expanding defense sector capital procurement outlays for new naval craft.