Reaching New Heights: Snapshot of the Aerospace Industry
By Meenakshi Shivram
Me: Can you provide a background of your journey to your position so far?
Udhaya: As a second-generation woman entrepreneur, my path to the Director of Finance, Administration, and Customer Relations at our company has been deeply influenced by family values and a shared vision for the future.
From a young age, my sister and I were involved in discussions about the business, and we both expressed a strong desire to contribute to its growth. This early commitment led us to strategically plan our careers to best support the company. My sister manages the operations, while I oversee our financial strategies, administrative processes, and customer relations. This division of roles has allowed us to focus on our strengths and drive the business forward, honoring our father’s entrepreneurial spirit and dedication. Our combined efforts are geared towards sustaining and expanding our father’s legacy, focusing on strategic growth and excellence in every area of the business.
Me: Can you tell us a bit more about what Aerospace Engineers Private Limited does?
Udhaya: Aerospace Engineers Private Limited (AEPL) is a technology driven company designing, developing and Manufacturing Components and Sub-Systems for the aerospace and defense industry, spanning domains such as elastomers, composites, metallic, and electro-mechanical products. Our vision is to be the one stop solution provider featuring a diverse range of product verticals including rubber, metallic, non-metallic, and composites, complemented by world-class, certified testing laboratory facilities. At AEPL we have indigenized over 15000 parts supporting the ‘Make in India’ initiative and we highly focus on indigenization to foster local expertise. We are tier one supplier to OEMS like Boeing, Airbus, Pratt & Whitney too, as we prioritize innovation and sustainability, ensuring our products meet the highest standards of safety and efficiency in the aerospace and defence sector.
Me: What is your opinion on the current landscape of the industry?
Udhaya: In my view, India’s aerospace and defense industry is on a trajectory of significant growth and transformation. Driven by the ‘Make in India’ initiative, there’s a concerted push towards enhancing domestic manufacturing capabilities and achieving technological self-reliance. This is particularly evident in the increased governmental support for R&D and the facilitation of partnerships between Indian and international firms. So with ongoing reforms and a focus on innovation, India’s aerospace and defense industry is poised for a future of growth and international collaboration.
Me: What are some emerging trends you are seeing within the sector?
Udhaya: The rise in autonomous technologies and unmanned systems is also reshaping our strategic focus, particularly in defense applications where precision and efficiency are critical. There’s also a pronounced move towards sustainability, with investments in electric and hybrid propulsion systems that promise to reduce our environmental footprint. Digital transformation is another key trend, as we incorporate AI to streamline operations and enhance manufacturing processes.
Me: What are some challenges you face with regard to working capital optimization in the industry?
Udhaya: The primary challenges I face in working capital optimization within the aerospace and defense industry are the high capital requirements and long production cycles typical of our sector. Managing the cash flow effectively when dealing with such extensive lead times and significant upfront investments in R&D and manufacturing infrastructure is crucial yet challenging. Also the volatility in global markets affects raw material costs which can unpredictably influence our operating expenses and pricing strategies.
Me: How has technology changed the way that you operate?
Udhaya: We are implementing a comprehensive software solution that enables complete traceability of manufacturing processes in electronic form, which not only improves our operational transparency but is also setting us on the path to becoming a paperless office within the next year. By digitizing our processes, we aim to reduce our environmental footprint and enhance data management, which will streamline operations and improve our responsiveness to market demands.
Additionally, we are actively working on automating certain aspects of production to increase efficiency and accuracy, which are crucial for maintaining the high standards required in aerospace manufacturing.
Me: How do you keep up with changing regulations, and stay compliant?
Udhaya: At AEPL, ensuring compliance with the ever-changing regulatory landscape is integral to our operations. We proactively engage with industry associations and regulatory bodies to stay ahead of new regulations. This involvement not only allows us to anticipate changes but also to influence discussions around regulatory developments that impact our industry.
We also invest in ongoing training programs for our staff to keep them abreast of new regulations and compliance standards. Regular audits are conducted internally to ensure all practices are up to standard, and any discrepancies are addressed immediately.
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