BELAGAVI: "Every airliner has some part made in Belagavi" — this has been a reality thanks to Aequs, which has firmly placed this North Karnataka city on the global aerospace map. A look into its sprawling 300-acre campus reveals how the company is redefining aerospace manufacturing, offering high-precision engineering solutions across the value chain.
The Aequs Aerospace SEZ in Belagavi began operations a decade ago and has since become a powerhouse, catering to civil aviation, defence, and India’s space programme. It has developed a vertically-integrated manufacturing ecosystem that supports the aerospace value stream end-to-end. With an annual machining capacity of 1.7 million hours, it is now India’s largest aerospace machining hub.
Aequs also expanded globally with facilities in Cholet (France), and Paris, Texas (USA), and has delivery locations across three continents. Today, it serves major aerospace players, including Boeing and Airbus, delivering built-to-print, made-in-India components.
Already established as India’s leading contract manufacturer, Aequs is now focused on increasing in-country value addition to make production more streamlined, cost-effective, and sustainable.
“There are 32 precision engineering units on the Belagavi campus, of which eight are operated directly by Aequs, while others are third-party units. The unique value proposition we offer is that products manufactured here have the lowest carbon footprint in the world,” the company stated.
The aerospace supply chain is inherently complex. With an airliner containing between 1 million and 3.5 million parts sourced globally, the industry faces immense logistical and environmental challenges. Targeting net zero by 2050, the sector must address emissions both in the air and on the ground. The Belagavi cluster is among the few global sites offering all processes — forging, machining, surface treatment, and structural assembly — at one location.
The company has localised its supply chain, sourcing raw materials from Indian vendors and reducing a component’s journey from 5,000 km to just 500 metres. This dramatically cuts emissions and increases domestic value addition.
Components made in Belagavi can be found across an aircraft — from hydraulics and landing gear to wings, doors, brakes, windows, and even engines. Notably, the inlet cones of LEAP-1A and LEAP-1B engines (used in Airbus A320 and Boeing 737) are manufactured entirely here — forged, machined, treated, inspected, and painted — ready for installation.
In 2023, the global aerospace market was valued at USD 346.58 billion and is projected to hit USD 791.78 billion by 2034. India’s aerospace and defence market, valued at USD 27.1 billion last year, is expected to double by 2033. With the country pushing for ‘Atmanirbharta’ in defence, opportunities galore — from platforms like the Advanced Medium Combat Aircraft (AMCA) to broader localisation efforts.
Reflecting on the defence sector, Aequs Managing Director Rajeev Kaul said: “We can support defence wherever necessary, like we’ve done for space. We did forging work for ISRO, including PSLV. We will continue to scout for opportunities, but our strategy lies in components and sub-assemblies — not building complete products.”
Kaul added that aerospace partnerships are long-term by nature. “You can’t expect anything in five years. An aircraft’s life is 40 years or more. You need to maintain records that long for safety and accountability.” He also cited that aircraft OEMs now have an 8-10 year backlog — a testament to strong order books and long-term demand.
Beyond aerospace, Aequs operates in the consumer vertical, serving the toys, electronics, and durable goods sectors. It runs a toy manufacturing unit within the Belagavi SEZ and has built India’s first dedicated toy cluster in Koppal, spread across 450 acres. For consumer durables, the company has created a 400-acre cluster in Hubballi.
Employing 4,000 people across operations, Aequs remains committed to scaling India’s contract manufacturing capabilities, with no current plans to develop proprietary product lines. It clocked Rs 1,000 crore in revenue in FY2024-25, growing at a 20% CAGR, and expects to stay on course this fiscal.