Aequs, a leading contract manufacturer, has announced plans to set up a Maintenance, Repair, and Overhaul (MRO) facility.
They will collaborate with Canada’s Magellan Aerospace Corporation for this initiative.
Additionally, Aequs aims to hire around 1,000 employees by the end of March 2026.
Aequs, headquartered in Belagavi, Karnataka, is bullish on growth opportunities and is looking to bolster its aerospace manufacturing capabilities.
The new MRO facility will initially focus on turboprop engine maintenance, marking a key milestone in Aequs’ aerospace ambitions.
The company’s Chairman and CEO, Aravind Melligeri, stated that the facility is expected to create additional job opportunities as operations scale up.
Aequs Workforce Expansion and Revenue Targets
To support its expansion plans, Aequs plans to ramp up its workforce by around 1,000 people in the financial year ending March 2026.
Currently, the company has around 4,000 employees, and the recruitment drive will include 300-400 hires in the current fiscal year.
This increase in manpower is aimed at enhancing the company’s capabilities across sectors and driving growth and innovation in precision manufacturing.
Aequs has set ambitious revenue targets for the next five years.
The company aims to reach $1 billion in revenues, with $500 million coming from the aerospace segment alone.
In the financial year 2023-24, the company’s aerospace segment generated revenues of $100 million, accounting for a major chunk of Aequs’ total revenues of around $120 million.
The expansion into the precision consumer electronics space will further boost the company’s revenue growth.
Joint Ventures and Partnerships: Focus on Consumer Electronics
Aequs has several joint ventures that contribute to its growth and success.
The company operates a Special Economic Zone (SEZ) in Belagavi, which offers an end-to-end manufacturing value stream, including forging, machining, surface treatment, and aero assemblies.
Aequs also has joint ventures with Magellan Aerospace Corporation (Aerospace Processing India Pvt Ltd) and France’s Aubert & Duval (SQuAD Forge), which produce forgings from various materials.
In addition to its aerospace manufacturing capabilities, Aequs is expanding its footprint in the precision consumer electronics space.
The company is exploring opportunities in the smart ring market and plans to shift its consumer durables focus from the domestic market to international exports.
The expansion will open further avenues for skilled employment and contribute to the company’s overall growth.
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