Bengaluru: TAL Manufacturing Solutions Ltd, which makes aero structures and other aircraft parts, is looking to contract-manufacture small business jets having two to 10 seats, chief operating officer Lokesh Ranjan Srivastava said.
The Tata group company also expects robust growth on the back of a strong order book from its key customers Boeing Co. and Airbus, Srivastava said in an interview at the Aero India air show.
Though new business will shape up only in 2019, TAL has already begun talks with some plane makers for contract manufacturing, Srivastava said, declining to elaborate further.
Bombardier Inc., Cessna Aircraft Co. and Dassault Aviation SA are some of the global aircraft makers that build small business jets.
“It’s all at an early stage. It has to make business sense for us as well as the original equipment makers,” he said.
TAL hopes to have a revenue of Rs730 crore by the end of 2020, said Srivastava. Its revenue has grown from Rs15 crore in fiscal 2014 to Rs45 crore in fiscal 2015 and Rs108 crore in fiscal 2016. It expects to end the year with Rs200 crore, he said.
“We have an order book of worth Rs2,000 crore to execute over the next six to seven years,” he said. To accommodate the new orders, TAL is in the process of acquiring land for an additional facility near its existing unit in Nagpur.
Meanwhile, on the back of steady growth and strong order book of TAL and orders from Boeing and Airbus, Tata Advanced Materials Ltd, a sister company of TAL that makes composites and structural parts for the aerospace industry, also aims to double its revenues from the estimated Rs400 crore in fiscal 2017 to Rs800 crore by 2020, said S.R. Mukherjee, chief executive officer at Tata Advanced Materials.
“The idea is to be a dominant player in aero structures,” he said. The company, which has also been a supplier of bullet-proof jackets to the military, concluded an order of 50,000 units last month. It also supplies assemblies and parts to Hindustan Aeronautics Ltd.