The aerospace industry in India is on a high growth trajectory. A large number of estimates and research are predicting an exciting and profitable future for this industry. Check out this post to know the current trends impacting the aerospace domain in India.
The Indian A&D (Aerospace & Defence) market is expected to reach $70 billion by 2030. Increasing participation of private companies and the constant thrust by the government are abundantly responsible for this high growth trajectory.
The growth of this sector in the past few years is as such that many of the largest of international aerospace companies are now interested in importing goods manufactured in India. The consistent growth has now made the aerospace domain highly competitive too. Here are five latest trends that are currently impacting this business domain in the country.
- Smart automation
Automation is being looked upon as the biggest breakthrough in the aerospace industry. While it was just the international manufacturers that used smart automation abundantly, Indian manufacturers are now using such technologies to reduce the manufacturing cost and improve product quality.
With the help of smart automation, companies can streamline the manufacturing process and ensure safety and precision at every step in the value chain.
- 3D printing
While 3d printing was introduced as a designing tool, the extent of its applications has grown by leaps and bounds. This is especially true in the aerospace industry. Manufacturing aerospace and defence goods require a host of complex components that consume much time with the traditional manufacturing processes.
However, with the help of 3D printing, the scope for iterations expands considerably while also ensuring the shortest turnaround time. Improved product design, higher performance standards, and reduced manufacturing delays are some of the other benefits of additive manufacturing.
- Cloud and cybersecurity
The nature of majority of the aerospace and defence products is as such that privacy is a significant concern. With the internet now being commonly used for a host of operations, the focus on cybersecurity has abundantly increased in the past few years.
Manufacturers now use advanced cloud solutions with tracking algorithms for monitoring and preventing cyber-attacks.
- Rising pool of skilled manpower
The skills required for aerospace manufacturing are not traditionally available in the country.
While there is still a lack of skilled workforce for the industry, the companies are now taking initiatives to train the professionals. Even the educational institutes are now coming up with new courses to help students acquire the precision &skills required for the industry.
- Partnerships and increasing internal capabilities
Availability of resources and low labour cost are two of the biggest reasons why India has now started attracting international aerospace manufacturers. However, the technological innovations in India are still at a nascent stage when compared to countries like the United States or Russia.
Building partnerships with international companies and strengthening internal capabilities are two of the most critical areas that Indian aerospace companies are currently focused upon. Even government agencies are now relying on government advisory services to build partnerships and hire a skilled workforce.
India: Aerospace superpower of the future
While countries like the USA, Russia, and France continue to dominate the aerospace sector, India’s dominance has increased considerably in the past few years. The industry has enormous potential, and it is only when the private manufacturers work along with the government that India could become a global aerospace superpower.