started out on weak footing and it does have a collateral effect on other general industry subsectors like Pump & Valve and Transportation. Additionally, due to Covid-19 there is rising labor shortage and environmental pressures also have caused problems.
Defense & Aerospace India has traditionally followed the transfer of technology model in the defense production. In order to meet demand of aviation industry for high value-added castings, aero-engine foundries continue to expand scope of casting production. Currently all investment casting foundries producing castings related to aerospace, defense and nuclear power are state-owned. Indian foundries in this category are now developing advanced superalloy investment cast parts with superior metallurgical quality, yield and engine performance.
Indian produced
investment castings serving aerospace, defense and nuclear power sectors together is about 4% of the total investment castings produced in India. Civil aviation suffered losses during pandemic. Looking forward to 2022, the market for aerospace components will grow with increasing demands on improving quality of castings.
Summation In summary, General industrial, commercial castings sales accounted for the majority of the growth experienced, while automotive and defense exhibited moderate growth. As the country recovers out of the pandemic, sales in all sectors are expected to increase, but it is not anticipated that the industry will recover completely until 2024 or later. The overall Indian investment casting market sales are expected to show growth during 2022. It is estimated that 2021 Indian investment casting sales realized 4-6% growth from 2020 levels. Indian economic uncertainties & prevailing business conditions for industry remain unpredictable. India is expanding its presence as an aerospace and defense hub.
January 2022 ❘ 27 ®
Indian forecast of IC sales for 2021 by commodity are depicted in Figure 2.
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40
