Newsletter
Hyderabad-based Raghu Vamsi Aerospace Group (RVAG) has secured $40 million in fresh funding from investors led by Norwest and Skegen Asset Management.
Why it matters: RVAG may not be a household name, but its parts power some of the world's biggest aerospace and energy companies.
It supplies components to giants like GE Aerospace, Pratt & Whitney, Honeywell, Safran and Collins Aerospace.
The fresh capital will help the company expand its manufacturing footprint across India, the UK and the US, speed up work on its new integrated manufacturing campus near Hyderabad airport, and invest more in advanced technologies such as mission systems, deep-tech and autonomous systems.
The bigger picture: global aerospace companies are increasingly turning to India to source aircraft components, driving rapid growth in the country's aerospace manufacturing sector.
Indian firms are moving beyond basic manufacturing into high-value precision components while expanding capacity and pursuing acquisitions.
The opportunity is significant. Boeing now sources more than $1 billion worth of components and systems from India every year, up from $250 million a decade ago.
Airbus plans to source $2 billion worth of components from India by 2030.
Despite being one of the world's largest aircraft markets, India currently accounts for just 2% of the global aerospace supply chain. Industry players believe that share has significant room to grow, creating a long runway for companies like RVAG.
