Airbus India and Adani Defence signed an agreement on Thursday to leverage synergies in aerospace and aircraft services, a fast-growing sector that is estimated to generate annual business worth $6.3 billion in the country by 2025.
The memorandum of understanding (MoU) was signed by Anand Stanley, president and managing director of Airbus India and South Asia, and Ashish Rajvanshi, the head of Adani Defence and Aerospace.
Airbus and Adani Defence will explore opportunities for collaboration in the area of aircraft services for Indian and South Asian market, the Airbus said after signing of the pact at the DefExpo2020 in Lucknow.
Airbus’ global services forecast envisages the Indian aircraft services market to grow to $6.3 billion by 2025.
