Mumbai: Lockheed Martin Corp and Tata Advanced Systems, a wholly owned subsidiary of Tata Sons Ltd, on Monday announced the formation of a new joint venture company - Tata Lockheed Martin Aerostructures, for manufacturing aerostructures for the C-130 aircraft produced by Lockheed Martin.
The new Tata Lockheed Martin Aerostructures facility is export oriented, and the products manufactured will form a key aircraft structure that Lockheed Martin will integrate and complete for its global C-130 aircraft customers, said a media statement.
It is not clear whether the Tatas will manufacture aerostructures for Lockheed Martin Corp in the existing Indian facilities or build new. A detailed announcement is expected by end of the day.
Ralph D. Heath, Lockheed Martin’s executive vice President (aeronautics) said, “This partnership is established as a strategic element of our global supply chain and solidifies our presence in India. We are confident it will enhance long-term competitiveness of the C-130 and assure its production for decades to come.”
Ratan N. Tata was quoted in the statement saying that his group is proud of association with Lockheed Martin ”and believe it will raise the level of capability of the aerospace industry in India as also complement the efforts of our Defence Public Sector Undertakings.”
The Lockheed C-130 Hercules is a four-engine turboprop military transport aircraft designed and built originally by Lockheed, now Lockheed Martin. The Indian Air Force (IAF) has recently inducted the C130J Super Hercules tactical airlift transport aircraft.
This is not first Tata Group forging tie-up with global aircraft makers. A year ago, NOVA Integrated Systems Ltd, a Tata company, had teamed up with TAMAM, a division of Israel Aerospace Industries (IAI), to evaluate opportunities to manufacture, integrate and maintain the MINIPOP Electro Optic system and to integrate the off-the shelf ADNAV lightweight navigation system in India.
Besides, that Tata Adanced Systems had teamed up with Sikorsky Aircraft Corp. to manufacture S-92 helicopter cabins in India. Sikorsky is a subsidiary of United Technologies Corp.
According to a recent report by consulting firm Deloitte Consulting India Pvt. Ltd, India is becoming one of the largest military spenders in the world with the third-largest defence procurement budget in Asia. It will rise to an estimated $42 billion by 2015, which could make it one of the most attractive defence markets in the world.