Smaller US and European firms eye the $100 Indian aviation market

Bangalore: After the big US houses, it’s now the turn of small and medium American and European firms to tap the $100-billion Indian defence and commercial aviation markets over the next 10 years. The continuing credit crisis and slow economic activity back in the US and Europe are forcing many of them to look to emerging countries for growth.
Aerospace manufacturing company Carlton Forge Works (CFW) that produces seamless rolled rings plans to invest $100-150 million to set up an aerospace centre (forging, machining and tooling) in India along with local partners, Cfw, manager of business development investment partnerships, Aimee Okamoto, has said.
KS Shivaswamy, managing director of the industries facilitation cell, Karnataka Udyog Mitra, had said that a 1,000-acre for MRO and aerospace ‘park’ will be developed near the international airport at Devanahalli and land has been acquired by the State agency Karnataka Industrial Areas Development Board.
Heico Aerospace’s Parts group which provides engineering services said it is expects to bag contracts worth $100 million from India as it aims to become a $1-billion dollar company in the next five years.
Hampson Automotive India said it is building aerospace domain in the Indian market by forming partnerships in niche areas such as composites and tooling, Hampson sales and marketing manger for Asia Jagadeesh B Patil said. It is eyeing revenue worth $100 million in four years from the India market.
Frank Houston, group vice-president of Esterline, which makes avionics and controls, sensors and systems, said that the Russian rates are rising and there is a need for low-cost engineering services.
Kaman Aerostructures vice-president William Brown said they were exploring a joint venture in India in areas such as composites and aerostructures.
Belgian aerospace firm SABCA’s chief executive Daniel Blondeel said that there is a need to share work with reliable and safe company such as QuEST Global to meet the targets posed by their customer Airbus.
16/11/09 Peerzada Abrar/Economic Times

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Categories: Foreign Nov 2009, Indian Aviation- In General Nov 2009, New Nov 2008