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US aircraft maker Textron eyes Indias defence space
American aircraft and rotorcraft maker Textron, known for its Bell range of helicopters, is looking to broaden its India footprint by entering the lucrative defence space, which could see an investment of $100 billion over the next decade on military hardware.
As Indian defence deals get mired in graft charges and authorities defer a decision to procure 197 light-utility helicopters pending completion of an investigation into kickback allegations,Textron Inc executive VP & CFO Frank Connor says hes ready with the right line-up of products to participate in future military tenders.
We have wanted to enter that space. We are better positioned today from a product portfolio standpoint and it has to satisfy missions that Indian military is looking at. If some of it (controversy-struck defence deals) is retendered, wed look at all of those opportunities, Connor told ET.
According to Connor, rotorcraft that fits the needs of Indian military, state governments and paramilitary forces are the new Bell 407 armed version and Bell 429 twin-engine. Bell-525, currently under development, is a potential product for the military and state government needs it later. Bell helicopters are mostly used for civil and commercial flying purposes in the country
However, the company admits that it is witnessing lukewarm response in the civil and commercial helicopter space at present, where Bell helicopters have the largest market share(42%) and Textron is pinning its hopes on the 2014 elections to witness an uptick.
As of now, the company has orders for two helicopters from the Punjab government and is in talks with various state governments, paramilitary forces and corporate houses.
At present, Bell 407 is the most preferred single-engine helicopter while Bell 412 is used in the offshore sector.
Textrons Cessna aircraft is used in the trainer segment and also in the business jet segment. Currently, a total of 33 Cessna business jets are operating in India.
India has emerged as the worlds top arms importer, but graft claims and a tortuous procurement process have held up several deals.
The Union Budget has proposed a defence spending of 2.03 lakh crore ($37.45 billion) for 2013-14, which is a 5.2% increase over last year. In 2012-13, the defence budget stood at 1.93 lakh crore.
US aircraft maker Textron eyes India's defence space - The Economic Times
American aircraft and rotorcraft maker Textron, known for its Bell range of helicopters, is looking to broaden its India footprint by entering the lucrative defence space, which could see an investment of $100 billion over the next decade on military hardware.
As Indian defence deals get mired in graft charges and authorities defer a decision to procure 197 light-utility helicopters pending completion of an investigation into kickback allegations,Textron Inc executive VP & CFO Frank Connor says hes ready with the right line-up of products to participate in future military tenders.
We have wanted to enter that space. We are better positioned today from a product portfolio standpoint and it has to satisfy missions that Indian military is looking at. If some of it (controversy-struck defence deals) is retendered, wed look at all of those opportunities, Connor told ET.
According to Connor, rotorcraft that fits the needs of Indian military, state governments and paramilitary forces are the new Bell 407 armed version and Bell 429 twin-engine. Bell-525, currently under development, is a potential product for the military and state government needs it later. Bell helicopters are mostly used for civil and commercial flying purposes in the country
However, the company admits that it is witnessing lukewarm response in the civil and commercial helicopter space at present, where Bell helicopters have the largest market share(42%) and Textron is pinning its hopes on the 2014 elections to witness an uptick.
As of now, the company has orders for two helicopters from the Punjab government and is in talks with various state governments, paramilitary forces and corporate houses.
At present, Bell 407 is the most preferred single-engine helicopter while Bell 412 is used in the offshore sector.
Textrons Cessna aircraft is used in the trainer segment and also in the business jet segment. Currently, a total of 33 Cessna business jets are operating in India.
India has emerged as the worlds top arms importer, but graft claims and a tortuous procurement process have held up several deals.
The Union Budget has proposed a defence spending of 2.03 lakh crore ($37.45 billion) for 2013-14, which is a 5.2% increase over last year. In 2012-13, the defence budget stood at 1.93 lakh crore.
US aircraft maker Textron eyes India's defence space - The Economic Times
