Friday, June 21, 2024

“BrahMos alone should bring in $5 billion by 2025”

The BrahMos Aerospace joint venture between Russia and India aims to single-handedly meet Prime Minister Narendra Modi’s goal of increasing the South Asian country’s annual defense exports to $5 billion by 2025.

“We are hoping that BrahMos Aerospace alone should be able to achieve that figure by that time,” the venture’s chief executive, Atul Rane, told India’s ANI news agency on Tuesday. He added, “We are hoping to get more orders from the Philippines, and we are talking to Vietnam, Malaysia and many other countries for exports.”

Indonesia is among the other potential buyers of the venture’s supersonic cruise missiles. Earlier this year, BrahMos booked a $375 million sale to the Philippines. That deal was for the shore-based, anti-ship variant of the company’s current missile system. BrahMos will provide three missile batteries to the Philippine Marine Corps, as well as training and logistical support services.

The first trial for the venture’s next generation of missiles is scheduled to take place by the middle of 2024, which could clear the way to start production at a new plant in the state of Uttar Pradesh as soon as 2025, Rane said. The new model weighs only about half as much as the venture’s current nuclear-capable missiles, meaning aircraft will be able to carry more of them.

“NG {next generation} is our main hope for the future in terms of exports,” Rane said.

The BrahMos chief said India has reached 68% indigenous capability to produce the venture’s current missiles, and it hopes to achieve 100% domestic content eventually, but the company’s products will continue to be sold in partnership with Russia, through the joint 50-50 operation.

Prior to commencing export sales earlier this year, BrahMos relied on India’s Air Force, Navy and Army for its revenue. The original BrahMos missile, which was first tested in 2001, can be launched from land, air or sea and can travel three times faster than the speed of sound.

India also produces Russian MiG and Su-30 fighter jets under license with Russia. The countries are reportedly considering producing more Russian weaponry in India. Modi’s administration set a goal last year of boosting India’s defense production to $25 billion, about 20% of which would be exported, by 2025.

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