Bangalore: Hindustan Aeronautics Ltd (HAL) is targeting a position as one of the top 20 global defence companies within the next ten years, with a turnover of $6 billion, chairman Ashok Nayak said Wednesday.
''HAL plans to provide seamless maintenance support, encompassing first and second line support, for aircraft and helicopters at customer bases,'' he said.
For the objective to be achieved HAL would aim for a multi-fold increase in production requirements which could be achieved thanks to continuous growth in India's aviation sector.
As a company, HAL is now over seven-decades-old.
With 19 production units and 10 research design centres at eight locations across India, the company has an impressive track record, including the manufacture of 14 types of aircraft developed through in-house R&D and 14 aircraft produced under licence, Nayak said.
HAL has positioned itself as a comprehensive solutions provider to the Indian defence services in aviation.
''With new initiatives and future programmes, the company continues to be a major partner of the defence forces,'' he added.
HAL has already diversified into aerospace-related fields, with its aerospace division supplying critical components, structural assemblies and tankages for various launch vehicles and satellites of the Indian Space Research Organisation (ISRO), Nayak said.