India Aerospace Parts Manufacturing Market To Reach $21.48 Billion By 2030

India Aerospace Parts Manufacturing Market Growth & Trends

The India aerospace parts manufacturing market size is anticipated to reach USD 21.48 billion by 2030 and is expected to expand at a CAGR of 6.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. The emphasis on self-reliance in the defense sector in India has led to a significant push towards indigenous manufacturing of aerospace components tailored for defense applications.

This strategic focus aims to reduce foreign suppliers' dependency on critical defense equipment and technology, thereby enhancing national security and sovereignty. As a result, the aerospace parts manufacturing sector has experienced a substantial boost, with increased investments in research and development, technological capabilities, and production infrastructure. Collaboration between defense establishments, private aerospace companies, and academic institutions has further accelerated innovation in designing and manufacturing aerospace components optimized for defense requirements.

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India Aerospace Parts Manufacturing Market Report Highlights

• Based on product, the aircrafts segment held the largest market share of 51.2% in 2023. The rise in air travel demand for commercial and private purposes has increased the demand for aircraft segment. 

• Avionics is expected to grow at the fastest CAGR over the forecast period. Avionics technology continues to evolve rapidly, with innovations such as advanced flight management systems, improved communication systems, more efficient navigation tools (like GPS and ADS-B), and enhanced cockpit displays. These advancements drive demand as airlines and aircraft operators seek to upgrade their avionics for improved safety, efficiency, and regulatory compliance.

• Based on aircraft, the commercial segment held the largest market share. Innovations in aircraft design, materials, engines, and avionics have led to more advanced and efficient commercial aircraft development.

• The business segment is expected to grow at the fastest CAGR in the forecast period. Business aircraft provide enhanced security and confidentiality, which is crucial for high-profile executives, government officials, and VIPs. The ability to control who has access to the aircraft and avoid public terminals contributes to the attractiveness of business aviation.

• In February 2024, Airbus strategically partnered with Dynamatic Technologies to manufacture A220 aircraft doors in India, marking a significant development in the aviation industry. This partnership signifies Airbus' commitment to enhancing its presence in India's aerospace sector while leveraging Dynamatic Technologies' expertise in precision engineering and advanced manufacturing capabilities. By localizing the production of A220 aircraft doors in India, Airbus aims to strengthen its supply chain resilience, reduce costs, and tap into India's growing aviation market.

India Aerospace Parts Manufacturing Market Segmentation

Grand View Research has segmented the India aerospace parts manufacturing market based on product and aircraft:

India Aerospace Parts Manufacturing Product Outlook (Revenue, USD Billion, 2018 - 2030)

• Engine

• Aircrafts Manufacturing

• Cabin Interiors

• Equipment, Safety & Support

• Avionics

• Insulation Components

India Aerospace Parts Manufacturing Aircraft Outlook (Revenue, USD Billion, 2018 - 2030)

• Commercial

• Business

• Military

• Others

List of Key Players in the India Aerospace Parts Manufacturing Market

• Aequs Private Limited

• Aeron Systems Private Limited

• ALPHA DESIGN TECHNOLOGIES PVT LTD

• avantel limited

• Bharat Electronics Limited (BEL)

• Dynamatic Technologies Limited

• Godrej.com

• Hindustan Aeronautics Limited (HAL)

• L&T Technology Services Limited

• Tata Advanced Systems Limited