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Aviation Minister Naidu aims to establish aircraft manufacturing in India
Industry News- Aug 19,24
Currently, Boeing and Airbus dominate the global aircraft manufacturing industry, with market shares of over 40% and 60%, respectively.
Aviation Minister Kinjarapu Ram Mohan Naidu announced plans to establish aircraft manufacturing in India, encouraging major global players like Boeing and Airbus to set up factories for spare parts and components within the country. Naidu emphasised the broader benefits of this move, noting that when companies start manufacturing locally, it often leads to the development of related industries and the formation of industrial clusters, creating a "win-win situation for everyone."
Currently, Boeing and Airbus dominate the global aircraft manufacturing industry, with market shares of over 40% and 60%, respectively. Indian airlines, including Air India, IndiGo, and Akasa, have more than 1,100 aircraft on order from these two manufacturers.
Naidu highlighted his ministry’s focus on creating the right policies and addressing existing gaps to pave the way for domestic aircraft production. While he did not specify a timeline for when India would start manufacturing planes, he stressed that domestic companies are his first choice for this ambitious initiative. However, he is also open to forming partnerships with global players to achieve this goal.
(TNIE)
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