Indian aerospace suppliers are experiencing a surge in parts-making due to an unprecedented number of jet orders. In June 2023, IndiGo and SpiceJet placed extraordinary orders for 300 and 200 narrow-body jets respectively, which are anticipated to have a significant impact on domestic parts manufacturing and aircraft assembly in India.
India’s aerospace industry already holds a prominent position as a major parts supplier to global aircraft manufacturers. The value of India’s aerospace exports reached $2.5 billion in 2022, with over 500 aerospace companies operating within the country. Key players include Hindustan Aeronautics Limited (HAL), Bharat Forge, and Dynamatic Technologies.
The remarkable influx of jet orders is set to unlock new opportunities for Indian aerospace suppliers. These companies are poised to reap the benefits of the escalating demand for aircraft parts within India and internationally.
Overall, the record-breaking jet orders represent a significant stride forward for the Indian aerospace industry. They are poised to create fresh prospects for Indian suppliers, attract increased investment, and facilitate substantial technology transfer. These developments are set to bolster the growth and establish India as a formidable player in the global aerospace market.
