HAL among top 100 in world defense companies

By agencies   |   Tuesday, 18 July 2006, 07:00 Hrs
Printer Print Email Email
BANGALORE: Asia's biggest aircraft maker Hindustan Aeronautics Limited has been ranked among the worldÂ’s top 100 defence companies.

In the list released by U.S. based Defense News, HAL has been ranked 45. It is climbed six places to reach the current place.

According to a HAL release, Lockheed Martin has claimed the number one position followed by Boeing, Northrop Grumman, BAe Systems and Raytheon in the top five.

Attributing the rise in the ratings and HAL's "leap forward" from the 51st slot to several up-gradation programs and new projects, the rankings are based on a company's sales and turnover.

Recording an annual growth in sales of 18.5 percent, at $1.21 billion in 2005-06, the state-run company has joined the select group of billion dollar firms and Chairman Ashok K. Baweja positively announced, "we are hopeful of breaking into the top 25-35 next year."

As HAL holds meetings with aviation majors to explore business opportunities in the area of aircraft structures, castings and forgings, engine components and design, the value of production has gone up by 16.4 percent at $1.30 billion, while HAL's profit before tax soared to $284 million, an increase of over 32 percent over the last year's performance.

Also creating an equal amount of attention are the light helicopter (ALH) Dhruv and IJT, the intermediate jet trainer, as they get set to make a mark in the skies at the Farnborough Air Show, which began today.
Apart from daily flying displays, Dhruv and IJT will also be kept aside exclusively for customer demonstration flights.

SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..