In a significant step forward, Airbus India and Adani Defence signed an agreement on Thursday to promote synergies in aerospace and aircraft services, highlighting India’s advancement in aircraft services market that is expected to generate $ 6.3 billion by 2025.
A memorandum of understanding (MoU) was signed by Airbus India and South Asia President and Managing Director Anand Stanley and Adani Defence and Aerospace head Ashish Rajvanshi.
“Airbus and Adani Defence would explore opportunities for collaboration in aircraft services for Indian and South Asian markets,” Airbus India said after signing the pact at the DefExpo 2020 in Lucknow.
“Airbus is not only the world’s leading civil aviation company but also a major innovator and provider of aircraft services. This MoU demonstrates our commitment to supporting the development of India as a world-class services hub for aerospace products,” Stanley said.
Airbus’ global services forecast envisages the Indian aircraft services market to grow to USD 6.3 billion by 2025.
“With Adani’s recent foray into airports, this potential collaboration will leverage synergies between product and services excellence of Airbus and infrastructure, engineering and mega-project execution capabilities of Adani,” Airbus India said.
“India is at the cusp of transformational growth in aircraft services market. Our collaboration with Airbus is aligned to our vision of nation building and to indigenise critical technologies and services, thus creating a vibrant ecosystem in aerospace capabilities in India,” Rajvanshi said.
The Airbus showcased its best-in-class military products and cutting-edge defence technologies at the DefExpo 2020. Models of highly-versatile C295 aircraft, as well as H145M and H225M helicopters, were among its top exhibits.