ISB Updates

Indian Aerospace Sector: Set to Soar

Vivek Lall, President and CEO, Reliance Industries recently visited the Mohali Campus, where he discussed the career opportunities in the aerospace and defence sector in India. Prior to his role at Reliance Industries, Lall was Vice President and Country Head, Boeing Defense Space & Security.
In his talks, Lall focussed on the uniqueness and complexity of the aerospace industry and also spoke about the challenges faced by the industry. Aerospace is a strategically important sector and is characterised by large investments and an exceptionally long programme life. Hence, government support and market protection have always played a key role in the development and sustenance of the industry.
He explained how leading manufacturers such as Boeing and Airbus have been thriving in this highly technology-driven industry, where the smallest improvement in technology could lead to a steep increase in the cost. Lall emphasised that collaboration is the key in the aerospace sector where companies try to leverage the global supply chain to reduce financial and technological risks in an increasingly price-sensitive market. He also cautioned that there were additional restrictions in this field since the aerospace industry is also governed by the International Arms Regulation and Technology Export Restrictions.
He pointed that India has recently achieved success in designing aircraft engines, avionics and accessories; a first step in this regard is Dhruv – a utility helicopter designed in the last decade.  
Talking about career opportunities in the industry, Lall pointed that the aerospace industry will require a skilled workforce as the employees retire in the next two decades and expressed optimism that the academic institutions will develop a pool of talent to fill the gap.