Higher capacity plant for aerospace ecosystem

Lockheed Martin is getting closer to setting up a fighter jet manufacturing plant in India, offering a custom-built F-16.

The American aerospace and defence major is now offering the best state-of-the-art fighter in F-16 to India, where business opportunities are huge with the Indian Air Force requiring a large number of jets and government’s support with incentives for exports.

Lockheed Martin has been trying to set up a fighter jet plant in India for several years, having last June (2017) signed an agreement to make F-16 with Tata Advanced Systems Limited.

“We intend to create far more than an assembly line in India,” said Vivek Lall, vice president, strategy and business development, at Lockheed Martin Aeronautics in an interview with Press Trust of India (PTI).

“India-specific state-of-the-art fighter production in India will be exclusive, something that has never before been presented by any other fighter aircraft manufacturer, past or present. There will also be a significant export market available for Indian-made fighters,” said Lall.

Lockheed Martin (NYSE: LMT) and TASL have signed an agreement, affirming to produce the F-16 Block 70 under a joint venture.

The F-16 Block 70 is ideally suited to meet the Indian Air Force’s single-engine fighter needs and this unmatched U.S.-Indian industry partnership directly supports India’s initiative to develop private aerospace and defense manufacturing capacity in India.

The F-16 plant will be the biggest boost for the Make in India initiatives, which badly needs multi-billion dollar manufacturers to boost India’s standing on the economic front, industry observers said. fii-news.com