Global Aerospace Firms Turn To India Amid Western Supply Chain Woes

Airbus, Collins Aerospace, Pratt & Whitney, and Rolls-Royce are expanding parts sourcing from India, driving growth in the country's emerging aerospace sector and pushing local firms to elevate their games, industry insiders say.

- Reuters

Bengaluru-based Hical Technologies and JJG Aero are among those riding the wave. Hical, a supplier to Raytheon Technology and Boeing among others, aims to double revenue to ₹500 crore from its aerospace division in three years, said Yashas Jaiveer Shashikiran, joint managing director. JJG Aero, also in Bengaluru's industrial hub, took 12 years to hit $2 million in revenue but soared to $20 million in the last six, said chief executive officer Anuj Jhunjhunwala.

The growth is part of an Asia-Pacific aerospace surge, with 2024 revenue projected to be 54% above 2019 levels, while North America and Europe remain 3% and 4% lower, according to Accenture Research.

"Earlier, we were chasing customers. Now, they are equally interested in evaluating Indian machine shops," Jhunjhunwala said, adding that contracts were being signed more quickly and onboarding processes being done much faster than ever before.