Global aerospace firms look to boost sourcing from India: report

Leading airplane manufacturers such as Airbus, Collins Aerospace, Pratt & Whitney, and Rolls-Royce are increasingly turning to India for sourcing components as supply chains in the West continue to be marred by strikes and labor shortages, Reuters reported.

“India is the best solution to supply chain challenges,” Huw Morgan, senior vice-president for aerospace procurement at Rolls-Royce, told Reuters.

The British multinational aerospace and defense firm last week announced plans to double sourcing from India in the next five years.

This shift is benefiting Indian suppliers such as Hical Technologies and JJG Aero, two Bengaluru-based companies, the report said.

While Hical, a supplier to Raytheon Technology and Boeing, seeks to double revenues to Rs500 crore ($57.57 million) from its aerospace wing in the next three years, JJG Aero, which struggled to hit $2 million in revenue in its first 12 years, achieved $20 million in revenue just in the past six years, Reuters reported citing top officials at both the firms

The aerospace sector surge in the Asia-Pacific region is estimated to grow 54% above 2019 levels, while other areas like North America and Europe are expected to grow 3% and 4% from 2019, according to Accenture Research.

Even though India is the biggest aircraft buyer globally, it accounts for only 1% of the global supply chain market, according to the Aerospace India Association.

Commerce minister Piyush Goyal on Monday met with officials of US-based aerospace, defense, security, and advanced technologies firm Lockheed Martin to track opportunities for manufacturing aircraft in India.

Goyal held the meeting with a delegation led by Michael Williamson, the president of the defense firm, the Press Trust of India (PTI) reported.

Goyal shared about this meeting on X.

Held a meeting with a delegation led by Mr. Michael Williamson, President at Lockheed Martin International.

Explored opportunities for manufacturing aircrafts in India to further strengthen the ‘Make in India’ initiative in the aerospace and defence sectors. pic.twitter.com/Ip0oT14DfP

— Piyush Goyal (@PiyushGoyal) February 17, 2025