Mahindra Aerospace Private Ltd, the aircraft and aero-structures arm of the Mahindra Group, plans to build 10-18-seater airplanes.
“There are 150 million in India going for pilgrim and 150 million tourists travelling within the country. We want to tap this very segment by giving them 10-18-seaters planes,” said Mr Hemant Luthra, President (Systech Sector), Mahindra and Mahindra.
Mahindra will introduce a five-seat piston-engined aircraft, the NM5, jointly developed with National Aerospace Laboratories.
“The first prototype is ready and going through necessary ground vibrations and pre-flight trials in Australia and will undergo its first test flight in a few days,” said Mr Luthra.
The company plans to invest in excess of Rs 450 crore in the next three years for acquisitions and acquiring land for more facilities. This is inclusive of Rs 280-crore investment on an Indian plant.
“The company is establishing an aircraft component-manufacturing plant at Nasarappura, about 40 km from Bangalore. At the moment, it is going through statutory approvals and will be ready in another 12-13 months,” said Mr Arvind Mehra, Executive Director and Chief Executive Officer, Mahindra Aerospace Private Ltd.
The company is also eying to pick up stakes in a tier-1 supplier in North America and Europe, “We are looking for a company that will provide us with technology. Sheet-material expertise is being looked into,” added Mr Luthra.