Global aerospace sector is gradually going to recover from the after effects of the Covid-19 pandemic. The reason for the slow revival is the lacklustre resumption of travel demand which is not expected to return to pre-pandemic levels before 2024. The defence sector, on the other hand, is expected to remain stable in 2021, as most countries have not significantly reduced defence budgets and remain committed to sustaining their military capabilities.
The Indian aerospace industry is one of the fastest-growing aerospace markets in the world with an expanding consumer base. The rapid growth of this industry has attracted major global aerospace companies to India. As a result, the Aerospace and Defence (A&D) market in India is estimated to reach around $70 billion by 2030 as the momentum is expected to further pick up with improving infrastructure and government thrust.
With increasing demand for large aircraft from Indian carriers, many of India's aerospace services and manufacturing activities are expected to be carried out. Similarly, as India's defence capital expenditure spending is continuously growing, there are also many opportunities in defence aerospace. This offers opportunities for start-ups as well as further expansion for existing players.
As the intensive technical and safety requirements mandate significant investments in R&D and quality control, players in the aerospace industry are upping the ante. Aerospace OEMs are restructuring supply chains to address increases in raw material prices and the increasing demand from Asia. This is resulting in a conducive environment for component manufacturers and at the same time creating demand for consultants.
After studying this industry segment in-depth, we have come up with the lists of Aerospace Component Manufacturers and Aviation & Aerospace Consultants who have excelled in this field with their innovative approach. Having proven their dedication to quality and delivery in order to meet the customer expectations in an end-to-end manner, these companies have stood out from the crowd.
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