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Manufacturing Cycle Cost reduction of Components thrusts business growth for aerospace Industries

  • Unique Paper ID: 153339
  • Volume: 8
  • Issue: 8
  • PageNo: 558-569
  • Abstract:
  • Reduction in manufacturing cycle cost of critical components propels opportunities of business in aerospace industries and its sustainability and emerging economies. Defense sector Indian budget takes generally minimum 1.5 to 2% of GDP. India’s defense budget approximately around 2% of GDP in 2020-21, means around 4.5 lakhs crores. Air force allocates around 75 thousand crores for aircraft and helicopter’s development, innovation and modernization annually. Major portion of budget goes for critical component’s purchasing of aircraft, helicopter, missiles etc. It is therefore focused to reduce manufacturing cost of components of aviation, aerospace and aeronautical field. Hence reduction in manufacturing cost in any field creates a revenue generation in our economies. At low cost manufacturing generate more production of aerospace components which will propel more and more work in aviation and aerospace manufacturing and more engagement of material & man power surges the revenue generation. Likewise there will be a high thrust in business for aerospace manufacturing field and their product as aircraft, helicopters, satellite, rockets, and space shuttle etc. By using Industry 4.0 that is fusion of technology which will establish a high tech business in aviation field. Aerospace manufacturing, aeronautical manufacturing leads towards business of helicopters, aircraft military, aircraft civil, rocket and satellites etc. Industry 4.0 nurtures the future model of business by applying robotics automation by artificial intelligence, simulation, augmented reality, horizontal and vertical system integration, additive manufacturing or 3-D printing, IOT or IIOT, cloud computing, cyber security. By application of these pillar of Industry 4.0, manufacturing in aviation field will scale up and after that manufacturing time will reduce, business in aviation field will increase exponentially by keeping quality high in less time elapsed, during manufacturing of components of aviation field. To sustain in business, any organization need to go for modernization of their system by industry4.0. Industry 4.0 leads with high revenue generation and growth in business of helicopters, aircrafts, ships, aerospace satellite, rocket
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Cite This Article

  • ISSN: 2349-6002
  • Volume: 8
  • Issue: 8
  • PageNo: 558-569

Manufacturing Cycle Cost reduction of Components thrusts business growth for aerospace Industries

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