According to a Global Market Insights Inc., report, India’s aerospace and defence market was estimated at over $10 billion in 2016 and is predicted to grow at an estimated CAGR of over 5% from 2017 to 2024. By 2029, this figure is expected to cross $70 billion. With programmes like Startup India and Skill India, Indian private players have witnessed original equipment manufacturers (OEMs) in aerospace and other sectors outsource parts of the value chain to them. There are also offsets being set up for private players in some sectors. When it comes to aerospace, one Indian company has been making in India even before it became a movement, with a keen understanding of the underlying potential.
Aequs Aerospace, an indigenous company built by Aravind Melligeri, who is also the co-founder of the independent aero-engine services unicorn Quest Global, makes crucial structural and system parts for the aerospace industry globally. The Aequs Group comprises Aequs Aerospace, Aequs INFRA and Aequs Consumer. The company has a Special Economic Zone (SEZ) in Belagavi, Karnataka, spread across 250 acres, from where the three entities of the group are served. “In 2005, the SEZ policy came into existence. We started with a modest 12,000 sq. ft facility in Bengaluru. But when we looked at growth, 12,000 sq. ft wasn’t enough,”
