Global aircraft manufacturer Airbus Monday entered into an agreement with Bengaluru-based Dynamatic Technologies to source flap-track beams for its wide body A330 family aircraft.
"Airbus partnership with Dynamatic signifies our commitment towards developing the aerospace supply chain in India thereby supporting thousands of highly skilled jobs in India," said Srinivasan Dwarakanath, managing director, Airbus India.
Dwarakanath further said that India is one of the fastest aviation growth markets in the world and it'll be one of the largest in the next 20 years.
According to the company, the agreement is the largest manufacturing contract between Airbus and a private sector company in India and elevates Dynamatic to a global tier-1 supplier.
Dynamatic has manufactured flap-track beam assemblies for Airbus' single-aisle A320 Family on a global single source basis as a tier-2 supplier, since 2010.
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The aircraft manufacturer further said that in phase one of the agreement, Dynamatic will assemble all the flap-track beams from its Bengaluru facility.
"In the second phase, Dynamatic will be responsible for the entire supply chain for the flap-track including sourcing materials, manufacturing and final assembly," the aircraft manufacturer said in a statement.
Airbus added that in recent years its has increased its sourcing from India, with more than $400 million worth of parts sourced in 2014.
Currently, the company is actively engaged in developing a network of over 35 supply chain partners in the country.