Boeing, Tata announce joint venture to manufacture aerostructures in India
Dated: November 09, 2015
Plane maker Boeing Co. and Tata Advanced Systems Ltd has formed a joint venture that will manufacture aerostructures for aircraft and collaborate on integrated systems development opportunities in India, seeking to tap a military hardware market estimated to be worth an annual $41 billion in seven years.
The joint venture will initially create a manufacturing centre of excellence to produce aerostructures for the AH-64 Apache helicopter and compete for additional manufacturing work packages across Boeing platforms, both commercial and defence. Boeing and Tata Advanced Systems intend to grow the JV partnership in the future with a focus on opportunities to collaborate on development and selling of integrated systems.
"This partnership will capitalise on India's industrial capability, innovation and talent to contribute to Boeing's long-term competitiveness and position us for future growth in the global marketplace," said Chris Chadwick, president and CEO of Boeing Defense, Space & Security.
"This agreement to establish a JV will propel the growth of the Indian aerospace sector by leveraging the world-class competencies of TASL and its supplier eco-system, as well as provide access to India's world-class manufacturing capability, skilled talent and competitive cost structures," said S. Ramadorai, chairman, Tata Advanced Systems.
“TASL is one of the select few in the private sector in India undertaking manufacturing and assembly of both aircraft and helicopters. The resulting scale and expertise at which the company now operates make it well-positioned for large-scale systems integration work in India’s aerospace and defense sector,” said Sukaran Singh, MD & CEO, Tata Advanced Systems.