Godrej Aerospace expects 100% growth in civil aviation biz over 3 yrs
To capitalise on export opportunities in Europe, Middle East & and U.S. regions
Godrej Aerospace, a business unit of Godrej & Boyce, is expecting growth exceeding 100 percent in the civil aviation segment within the next three years.
"The company's focus on innovation and exports in the Europe region is expected to fuel this exponential growth, solidifying its position as a key global player. To explore partnerships with international players, Godrej Aerospace will actively participate in the prestigious Paris Air Show between June 19 and June 25, 2023 at Paris Le Bourget Exhibition Centre," says an official release.
Considering the growing opportunities in the civil aviation and space sector, Godrej Aerospace is actively capitalising on international market trends, the release added. "The industry's upward trajectory, particularly the demand for single-aisle aircraft and their engines, presents a favourable market environment. In FY23, Godrej Aerospace reported €10 million revenue in the civil aviation segment."
Godrej Aerospace has secured significant new orders, particularly in sheet metal brackets, complex fabrications, tubings, and ducting, which will serve as the foundation for its growth trajectory, the release said.
"The aviation sector, working towards recovering from a severe economic crisis, is now exhibiting indications of confidence," says Maneck Behramkamdin, AVP & Business Head, Godrej Aerospace. "Global OEMs are opening avenues for partnering with Indian manufacturers. Considering the recent economic recovery, we are projecting 100 percent growth in the next three years in the civil aviation segment and expect this to revive further as exports grow in key markets."
Godrej Aerospace has announced the establishment of the Centre of Excellence for Tubes & Ducts in 2023 alongside its existing Centre of Excellence for Brackets. The strategic initiative reflects the company's dedication to innovation and self-reliance, empowering it to develop cutting-edge solutions indigenously for civil aviation and exports, the release added.