Aerospace giant Airbus plans to significantly boost its procurement value from India as it aims to double the total investment to $1.5 billion in the coming years.
Remi Maillard, president and managing director of Airbus India and South Asia, while making this announcement at the "Wings India" event in Hyderabad, said the Indian aviation sector will need 2,840 aircraft by 2035.
According to a Reuters report, India is now the world's fastest-growing aviation market. The country is investing nearly $12 billion to build new airports and upgrade existing ones. Currently, India has 150 airports. The goal is to increase this number to 200 within the next five years.
Maillard added that Airbus is seeing good demand for orders from India and expects to double the company's sourcing from the country from $750 million at present.
In a parallel development, Mahindra Aerostructures Pvt Ltd (MASPL) and Airbus Aerostructures GmbH, a subsidiary of Airbus, formalised a new agreement on January 17. This strategic partnership will focus on enhancing collaboration in the production and delivery of metallic components for all Airbus commercial aircraft models, including the immensely popular A320 family.
According to the terms of the agreement, MASPL will dispatch a diverse range of nearly 5,000 metallic components to Airbus in Germany. These components will be sourced from MASPL's state-of-the-art manufacturing facility in India.
Notably, this contract supplements existing MASPL programs, where the company directly delivers parts to Airbus facilities in Toulouse, France.
The move comes at a time when Airbus solidified its position as the world's leading aircraft manufacturer for the fifth consecutive year. The company revealed last week that it outpaced Boeing in both aircraft deliveries and orders in the competitive aviation market throughout 2023.
In another development, Airbus has entered into a significant partnership with Air India, a Tata group-owned airline. This collaboration aims to establish a pilot training facility in Gurugram, Haryana, through a 50:50 joint venture.
Further expanding its footprint in India, Airbus has also joined forces with GMR Aero Technic for aircraft maintenance engineering training courses. This collaboration will leverage GMR Aero Technic's facility in Hyderabad to impart specialised training, contributing to the development of skilled professionals in the aviation sector.
(Edited by : Vivek Dubey)
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