After aircraft parts and toys, Karnataka-based Aequs now eyes engine components
Koppal and Belgavi — have emerged as hubs for contract manufacturing of toys and aircraft components over the past decade.Aequs, a contract manufacturer of aerospace components, toys and consumer durable goods, is now venturing into the aircraft interiors sector — so far the domain of China. «Till now, it has been happening mostly out of China, and today we have an opportunity to start doing it out of India because we are able to compete on a high volume,» Aequs Chairman and Chief Executive Officer Aravind Melligeri told PTI in an interview. «It is a whole another opportunity.
It is a USD 10 billion market, going to USD 20 billion-interiors market in the next 10 years,» he added. A typical aircraft has anywhere between three lakh to three million unique parts. Aequs manufactures about 2,000 such components at its aerospace special economic zone in Belgavi in northern Karnataka and supplies those to leading companies such as Airbus and Boeing.
«Today, every aircraft made in the world has a part made in our aerospace cluster in Belgavi. That much I can assure,» Melligeri said, adding that Aequs supplies window frames, doors, overwing emergency exit doors, landing gear components, actuation components, wing components and fuselage components. Aequs is also exploring opportunities in engine components for aircraft and would like to expand in this sector, he said.
According to industry insiders, aircraft manufacturers source the various components from contract firms across the globe, most of these located in countries such as Canada, US, Germany and France. The contract manufacturers further rely on tier-1, tier-2 and tier-3 suppliers to source materials for aircraft parts. With global toy brands looking beyond their
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