The joint venture (JV) between India's state-owned Bharat Electronics Limited (BEL) and Thales is pursuing opportunities in the civil air traffic management (ATM) radar market, IHS Jane's has learned.
BEL owns 74% of BEL-Thales Systems Limited, with Thales holding the remainder. BEL said in a statement to the Bombay Stock Exchange on 3 September 2014 that the JV was incorporated in late August.
BEL and Thales signed a Memorandum of Agreement in 2012, but changes in guidelines and bureaucratic red tape resulted in a two-year delay. The main aim is to focus on the design, development, marketing, supply, and support of defence surveillance radars - but new opportunities have enabled the JV to widen its objectives to include ATM radars. A major driver for this is India's defence offset policy, which in 2013 was expanded to include civil aviation.
While BEL and Thales plan to follow their respective interests, the business model of the JV is ........Read more on IHSJanes.......