How will the Indian Defence Ecosystem evolve in 2022-23

In Conversation with Jeetendra Gavankar, MD, Safran HE with Gaurav Mehndiratta, Partner and Head, Aerospace and Defence, KPMG in India

The Indian Aerospace & Defence (A&D) market is projected to reach ~US$ 70 billion by 2030, driven by the burgeoning demand for advanced infrastructure and government thrust.

In India, the aerospace industry is growing significantly with the rising activities from both the defence and civil aviation sector. With increasing demand for large aircraft from Indian carriers such as SpiceJet and Indigo, and focus on Powered by Hour Contracts (PBH), many of India’s aerospace services and manufacturing activities are expected to be carried out. Similarly, as India’s defence capital expenditure spending is continuously growing, there are also many opportunities in defence aerospace.

Making air transport safer and more environmentally friendly is Safran’s main ambition in tackling the challenge of climate change and contributing to the transition to carbon-neutral aviation by 2050.

Mr Jetendra Gavankar is the Managing Director of Safran HE, India and is an accomplished aerospace professional with proven track record of 30 years in strategy & business development. Prior to joining Safran, he had successful stints at Honeywell and Adani. Mr Gavankar has also served at the Indian Air Force and DRDO.

In The Economic Times exclusive Series of Conversations being hosted with the senior leadership of India Inc., he shares his views on the expected growth of Indian Aerospace Market in the coming years.

Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of the Economic Times – ET Edge Insights, its management, or its members

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