Soaring High: The Growth of India’s Aerospace Parts Manufacturing Market
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 opt...