Airbus to Boost Component Sourcing from India - CEO

New Delhi, Oct 7 (PTI) Airbus will increase sourcing of components from India, which offers plenty of opportunities, according to the aircraft maker's CEO Guillaume Faury.

The European major, which has bagged huge aircraft orders from IndiGo and Air India, doubled its sourcing of components and services from India to 1 billion euros during the period from 2019-2024, he said.

The company has more than 100 suppliers in India.

At a press briefing in the national capital on Monday, Faury, who is also the Chairman of the French Aerospace Industries Association (GIFAS), said there are plenty of opportunities in India.

"We will be continuing to grow (sourcing of components)... We will continue to double around every 5 years, that is in the next decade to come. It is a stable pace," he said.

In 2023, for the first time, there was more equipment to be placed on aircraft, helicopters than IT services. The lines have crossed, he added.

Companies that are part of GIFAS make procurement worth USD 2 billion annually from India.

Meanwhile, Airbus has an order book for around 8,600 aircraft and expects to produce about 770 planes this year.

IndiGo and Air India together have placed orders for more than 1,000 planes with Airbus.

About the Indian market, Faury said it is the fastest growing civil aviation market in the world and there is also fierce competition among airlines.

A high-level delegation of GIFAS, with more than 60 companies and over 100 people, is on a visit to India as they look to further boost partnerships and business opportunities between the two countries.