On 1st December 2016 (yesterday) Airbus signed a strategic agreement with QuEST Global and AXISCADES to provide a wide range of critical engineering services for all Airbus aircraft programmes as tier-1 suppliers.
According to Airbus India President Srinivasan Dwarkanath, through ‘Make in India’ partnerships like these is the future of the country.
He further added that outside Europe, India provides the maximum volume of engineering services to Airbus as compared to any other country.
QuEST will provide services for the Wing and AXISCADES for the Fuselage.
Dwarkanath said that this is the second time when AXISCADES along with QuEST have won an order for these engineering services through a competitive bidding process after the previous contract successfully completed its term.
Both the companies operate dedicated development centres in Bengaluru region and more than 500 engineers will be working across these centres to deliver the required services, he said.
QuEST and AXISCADES emerged as top choices of Airbus from among seven contenders because of their unique value – cost and competency combination –that the companies were able to demonstrate to Airbus.
AXISCADES Vice Chairman Sudhkar Gande said that they are delighted to extend their collaboration with different divisions of Airbus at a time when the industry is focusing on digital designs services to cut production cost and time.
As per QuEST Global COO Ajay A Prabhu winning this contract along with AXISCADES again marks another milestone in the strategic partnership with Airbus. It reflects its commitment to supporting transformation through engineering solutions for our customers.
India will need more than 1,600 new passenger and freighter aircraft in the upcoming 20 years according to Airbus Global Market Forecast.
Prabhu also said that this growth is expected to drive demand for skills in the fields of Engineering, Manufacturing, and Services including maintenance & pilot training and MRO.
For over a span 40 years, Airbus has sought industrial cooperation to support sustainable growth of the country’s aviation as well as aerospace sector with long-term mutually beneficial partnerships, Dwarkanath said.
Through a network of more than 45 Indian suppliers, Airbus absorbs the best of engineering, manufacturing, as well as services capabilities that India offers.
More than 6,000 professionals nationwide contribute directly and indirectly to all Airbus aircraft programmes, he also said.
On the back of this news AXISCADES share price surged up by more than 8 per cent. The share price is trading at Rs 193.00 apiece on NSE, up by 8.40 per cent.Stay updated with the support and resistance levels of AXISCADES at AXISCADES share price forecast.
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