New Delhi — Tata Advanced Systems Limited (TASL), subsidiary of the Indian major Tata Group, has signed an agreement with the US major Lockheed Martin for the formation of the joint venture firm called Tata Lockheed Martin Aerostructures. The new venture aims to build aero-structures for Lockheed’s C-130 aircraft in India. Lockheed Martin has already received an order for six C130J Super Hercules tactical airlift transport aircraft from India and has supplied one aircraft until now.
The joint venture between these two industry giants will culminate into a facility that will be 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. This joint venture with Tata Advanced Limited is Lockheed Martin’s first in India and has been established as a strategic element of Lockheed Martin’s global supply chain besides making its presence felt in India.
The joint venture firm Tata Lockheed Martin Aero-structures will have a 74 per cent holding by Tata Advanced Systems while remaining 26 per cent shareholding would be owned by the Lockheed Martin.
According to experts, the likelihood of the Tata Group becoming the preferred local partner of US firms bidding to sell medium multi-role combat aircraft (MMRCA) to India in the world’s largest fighter jet deal has increased due to its tie-ups and agreements with US giants. Besides the venture with Lockheed Martin, Tata Industries Limited, another group company, already has a joint venture with Boeing to manufacture defence-related aerospace components in India for export to Boeing and its clients worldwide. Both Lockheed Martin and Boeing are in the race to sell 126 MMRCA to India for $11.2 billion.
Tata Advanced Systems is making a major foray into aerospace as it has announced setting up of three aerospace component manufacturing facilities in Hyderabad including the recent tie-up with Lockheed Martin. The other ventures include a tie-up with Sikorsky as well as a local venture of its own. Interestingly, all the three manufacturing facilities will come up at Adibatla Aerospace Special Economic Zone in the outskirts of Hyderabad to commence production by year-end. The total investment by Tata in all these ventures is over $220 million.
According to S Ramadorai, chairman of Tata Advanced Systems, these three projects mark a significant step forward in India’s growth as a high technology, precision manufacturing destination and will place Hyderabad on the global aerospace map. He added that the Tata group plans to locate many more of its aerospace projects in Hyderabad both in joint venture with global giants and on its own.
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