Embracing Aerospace Manufacturing Competencies | OEM Update | Industry Speaks

August 30, 2021 12:39 pm

Aerospace is a high technology industry involved in building aircraft and manufacturing aircraft parts for maintenance, used for civil and military aviation. It is engaged in the research, development, and manufacture of flight vehicles, drones, airplane; military aircraft, rocket and missile system, space launch vehicles, and spacecraft.

Aerospace market tumbled after reaching a value of nearly $342.4 billion in 2019 and anticipated a decline to $296 billion in 2020 at -14% rate is expected to recover and grow at a CAGR of 6.5% from 2021 and reach $358.8 billion in 2023. Global aerospace industry is worth $838 billion; OEMs, suppliers and manufacturers comprise 54% of all activity, which is indicative of enormous challenges and opportunities. The commercial aerospace sector is expected to recover slowly, as travel demand is not expected to return to pre–pandemic levels before 2024 as studies go along.

Due to lockdown the passenger traffic, aircraft demand got slow. The competitiveness and advancement in the aerospace industry needs innovative strategies for manufacturing, optimizing and upgrade in the aerospace industry.

On this note, OEM Update Industry Speaks conducted a live conference on ‘Embracing Aerospace Manufacturing Competencies’, on 27th July 2021 at 4 PM IST where industry experts discussed scope and varied opportunities in aerospace manufacturing.

Panel Speakers:

Mr. Priyesh Mehta, Imaginarium
Mr. Ashik Appanna, Carl Zeiss India
Mr. Ramesh Kumar Sankaran, Godrej Aerospace
Mr. Shinto Joseph, LDRA India
Mr. Shankar Narayanan, Siemens