Manufacturing Cycle Cost reduction of Components thrusts business growth for aerospace Industries
Sita Ram Sahni, Dr Kamal Vagrecha
Manufacturing cycle time, Manufacturing Cycle cost reduction, Manufacturing time,
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
Article Details
Unique Paper ID: 153339

Publication Volume & Issue: Volume 8, Issue 8

Page(s): 558 - 569
Article Preview & Download

Share This Article

Join our RMS

Conference Alert

NCSEM 2024

National Conference on Sustainable Engineering and Management - 2024

Last Date: 15th March 2024

Call For Paper

Volume 11 Issue 1

Last Date for paper submitting for Latest Issue is 25 June 2024

About Us enables door in research by providing high quality research articles in open access market.

Send us any query related to your research on

Social Media

Google Verified Reviews