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.

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.

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