American defence cos eyeing Indian mkt
The American companies project $10 mn in annual purchases from India market over the next ten years.
By PTI |
WASHINGTON: With a keen eye on the growing Indian defence market, major American defense establishments have launched a new effort to tap a market that is projected to bring $10 billion in annual purchases over the next ten years.
A senior official of the Aerospace Industries Association (AIA) has identified a number of areas in India's aerospace and defence sector, including multi-role combat fighters like the F-16s and F-18s, the P3, C-130J, attack helicopters, radars and missiles.
The country is also one of the two largest markets for civilian airliners. According to Mark Esper, the Vice President of AIA, who recently led a high powered delegation to India, there is tremendous opportunity for American companies to build alliances with aerospace suppliers in India.
Billed as the fourth largest economy in terms of buying power and a phenomenal record of growth during the past decade, Esper has estimated that by 2010 airline passenger traffic will increase by 50 per cent with cargo traffic registering a 300 per cent increase.
Esper has also underlined some of the major Indian themes that includes wanting a strategic relationship with the United States and acknowledging that the US had the best products.
A senior official of the Aerospace Industries Association (AIA) has identified a number of areas in India's aerospace and defence sector, including multi-role combat fighters like the F-16s and F-18s, the P3, C-130J, attack helicopters, radars and missiles.
The country is also one of the two largest markets for civilian airliners. According to Mark Esper, the Vice President of AIA, who recently led a high powered delegation to India, there is tremendous opportunity for American companies to build alliances with aerospace suppliers in India.
Billed as the fourth largest economy in terms of buying power and a phenomenal record of growth during the past decade, Esper has estimated that by 2010 airline passenger traffic will increase by 50 per cent with cargo traffic registering a 300 per cent increase.
Esper has also underlined some of the major Indian themes that includes wanting a strategic relationship with the United States and acknowledging that the US had the best products.
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