Airbus to Boost Component Sourcing from India
Airbus has revealed plans to increase its sourcing of components from India, after already doubling their investment to €1 billion in procurement over the 2019-2024 period. This move comes as the European aerospace manufacturer continues to expand its partnerships with over 100 suppliers across India.
Speaking at a press briefing in New Delhi, Airbus CEO Guillaume Faury said the company plans to double its procurement every five years, reflecting its ongoing commitment to Indian suppliers. “We will continue to grow... it is a stable pace,” Faury remarked.
In 2023, for the first time, the value of aircraft and helicopter equipment sourced from India exceeded that of IT services. Additionally, companies linked to the French Aerospace Industries Association (GIFAS), which Faury chairs, procure approximately $2 billion worth of goods from India annually.
Airbus currently holds an order backlog of about 8,600 aircraft and expects to produce 770 planes this year. Orders from Indian carriers IndiGo and Air India alone account for more than 1,000 aircraft.
A delegation from GIFAS, comprising more than 60 companies and over 100 representatives, is currently visiting India to explore further business opportunities and strengthen ties in the aerospace sector.