The rise in localisation efforts within aircraft assembly has propelled National Engineering Industries (NBC) into the aerospace and space sectors, focusing primarily on providing bearings, a vital element in the manufacturing process.

As part of this strategic initiative, Lokesh Agrawal, the Chief Technology Officer (CTO) of NBC Bearings, revealed that the company has established a specialised business vertical exclusively designed for the aerospace industry. This move aims to enhance NBC's foothold in the sector.

"In the first phase of our aerospace ventures, NBC is investing approximately Rs 50 crore. This investment signifies our confidence in the promising opportunities within the Indian aerospace manufacturing industry," Agrawal stated.

He emphasised the rapid growth of the Indian aerospace manufacturing industry, positioning itself as one of the world's fastest-growing sectors. According to Agrawal, India has attracted significant attention from major international players in the aerospace industry. Many of these global giants are either establishing their assembly operations or exploring the prospect of setting up manufacturing facilities in the country.

"Over the past decade, aerospace component exports have experienced a remarkable 15-fold increase. This growth is expected to accelerate further as the aerospace industry's requirements are well understood, offering substantial opportunities for Indian manufacturers to integrate into the global aerospace supply chain," Agrawal added.

Agrawal also pointed out a significant area of growth arising from the aviation industry boom, which is the 'Maintenance, Repair, and Overhaul' (MRO) sector.

"As airlines expand their fleets, the demand for MRO services is also on the rise. Indian manufacturers are gearing up to meet this growing demand for MRO services, providing a chance for local businesses to establish themselves as key players in this critical segment of the aerospace industry," he explained.

He further noted that Indian manufacturers are well-positioned to benefit from the global supply chain. The escalating demand for aircraft and components by Indian airlines has led to a surge in aerospace component manufacturing.

Initially, NBC entered the sector by producing bearing rings used in satellites. Subsequently, the bearings manufacturer acquired Kinex, a company supplying bearings for the aerospace industry and other sectors.

Source: The Financial Express