By 2020, offshored ER&D market for aerospace sector will be between USD 4.5-5 billion. India is set to garner anywhere between 40-50 per cent of this market (USD 2.0-2.5 billion). Key drivers include lowering cost, reduced time-to-market and shared-risk model. A key opportunity for India based players is the increased demand for local engineering support, as APAC is set to become an aviation hub.
Globally, no major new platform development is in the offing; firms focusing on improving efficiency.
Engineering focus expected to shift from design to manufacturing and sustenance engineering.
Going green, increasing digitisation and cost optimisation.
Avionics, local engineering support and digitisation.
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