Safran India eyes 70% revenue boost from Gaganyaan space flight, other space, defence deals
human spaceflight mission Gaganyaan and rising private-sector contracts, top executives told Reuters on Wednesday.
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The Paris-based jet engine maker, 11% owned by the French government, is among the world's largest aerospace suppliers. It develops the Ariane 6 rocket jointly with Airbus, but is diversifying its supply chains amid Europe's political instability.
India is strategic in the geopolitical context, Jetendra Gavankar, head of Safran India, told Reuters. «The biggest market in aerospace is still the U.S., but also Oceania/Asia and within that, India is growing in its share for the space sector rapidly.»
Two years ago, it bought Bengaluru-based Captronics Systems to become Safran Data Systems India (SDSI) to tap into the country's aerospace and defence sectors, capitalising on the government's push to boost private sector participation in these areas.
SDSI, which has been involved with India's moon mission and the development of the new small satellite launch rocket for the Indian Space Research Organisation (ISRO), contributes about 10% of Safran's global space industry revenues.
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