With companies like Lockheed Martin and Boeing partnering with Indian firms like Tata Advanced Systems Ltd (TASL) and AI Engineering Services Ltd (AIESL), the foundation is being laid to establish India as a regional hub for military aviation maintenance.
Backed by policy reforms and a maturing industrial base, the sector's transformation over the next five years will feature new MRO facilities, increased induction of defence platforms for in-country maintenance, and a growing role of local suppliers supporting global defence original equipment manufacturers (OEMs).
The 'prove-it' phase Nick Smythe, director of Air Mobility and Maritime Missions International Campaigns at Lockheed Martin, describes the coming five years as a "prove-it" phase for India's defence MRO capabilities. He also notes that the recent spate of announcements in the sector by global OEMs like Dassault Aviation, Boeing, and his own company are "lagging indicators" of years of planning and effort, aligning with the government's 'Make in India' vision.
Lockheed, in partnership with TASL, plans to establish an MRO facility for the C-130J Super Hercules aircraft, with the first induction for maintenance scheduled for 2027. "This is the culmination of years of work. The conversations with the Indian Air Force (IAF) go back to 2019. Initially, it was easier to send aircraft outside India for maintenance, but the industrial setup here is now mature," says Smythe. "The stable, consistent government vision allows us to do long-term planning. The number of assets and our throughput analysis justify the investments, making it clear that now is absolutely the right time to move forward. We are excited to partner with Tata to establish this capability."
Denne historien er fra November 23, 2024-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra November 23, 2024-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Architecture, the new doctor in the recovery room
From skylights to healing gardens, hospitals are embracing design elements that accelerate healing and enhance patient well-being
IIT-K's stealth tech to make jets invisible to enemy radar
High-technology cooperation between indigenous defence industry and academia has begun yielding results.
India to be wrapped in 175 years of Christy luxury
One of the world's oldest towel brands, famed for its royal heritage, is set to enter the Indian market in 2025
Insurance Amendment Act to boost growth, promote inclusion
It has been a quarter of a century since the insurance industry was liberalised. At the 'Business Standard BFSI Insight Summit, 2024', ALOK RUNGTA, managing director and chief executive officer (MD & CEO) of Future Generali India Life Insurance, SHARAD MATHUR, MD & CEO of Universal Sompo General Insurance, SUMIT BOHRA, president of IBAI and CEO of GlobeSecure Insurance Brokers, and MAYANK BATHWAL, CEO of Aditya Birla Health Insurance, discussed what is next for the industry. Edited excerpts:
Insurance in India has made significant strides
Managing directors and chief executive officers (MDs and CEOs) of general insurance companies gathered at the Business Standard BFSI Insight Summit, 2024, to discuss 'many challenges' they face. ANUJ TYAGI, MD & CEO of HDFC Ergo General Insurance Company, ANUP RAU, MD & CEO of Future Generali India Insurance, ANIMESH DAS, MD & CEO of ACKO General Insurance, gave their views on the road ahead for the industry. Edited excerpts:
Regulator nudging us to up our game on cybersecurity
A case for increasing coverage? The leaders of life insurance companies discussed this topic at the Business Standard BFSI Insight Summit, 2024, with Business Standard's consulting editor Tamal Bandyopadhyay. Panellists included VIBHA PADALKAR, managing director and chief executive officer (MD & CEO) of HDFC Life Insurance, ANUP BAGCHI, MD & CEO of ICICI Prudential Life Insurance, and MAHESH BALASUBRAMANIAN, MD of Kotak Life Insurance. Edited excerpts:
'Bima Sugam is a game-changer'
Just as the Unified Payments Interface (UPI) has transformed the payment and banking sectors, the insurance regulatory and development authority of India (Irdai) is hoping that its ambitious project Bima Sugam—an online marketplace to buy service, and sell insurance products—will transform the insurance sector and help increase penetration.
Field widened for life insurance in the country
Revised surrender value norms to help life insurers and customers
More is better in Indian insurance
100% FDI will encourage companies to come to India and operate on their own terms in the sector, say experts
India's Welfare State: Too much, too soon, with too little?
The promise of too much, too soon, with too little is tempting for politicians for mobilising votes, particularly of the poor.