Punj Lloyd, Rave Gears (USA) and Adani Group said they will set up a joint venture to manufacture helicopter parts.\r\n\r\nThe collaboration will use the manufacturing base in India for exports to global OEMs, both in the military and civil aerospace domain, Adani Defence & Aerospace said. \r\n\r\nThe JV will design, manufacture and assemble high precision gears and transmission systems, mainly for rotary platforms. \r\n\r\nOne of the first projects to benefit will be the ongoing production of rotary gear for HAL.\r\n\r\nThe collaboration will also benefit future programs like the Naval Utility Helicopters and Naval Multi Role Helicopters, they said.\r\n\r\n"It is an opportunity for Rave to do what its best at; offer technology which led Rave to conquer NASCAR market in 3 years and achieve 70% cost and 68% cycle time reduction to Bell Helicopter among several other achievements," said Rave CEO Nick Patel.\r\n\r\nRave's customers include major aerospace & defense OEMs, US Government and major NASCAR & Formula 1 Teams and makes gear for drone, aerospace and racing markets. \r\n\r\nAshish Rajvanshi, Head of Adani Defence & Aerospace said the tie-up will help his group contribute to the creation of a vibrant defence manufacturing ecosystem in India.\r\n\r\n"It will help establish new production lines in India, generate employment and build sustainable skills," he added.\r\n\r\nThe three companies aim at increasing self-reliance at the Tier-I level, which will be critical for system integration of platforms in India.\r\n\r\n"This collaboration will enable India to achieve indigenisation in one of the most critical components in rotary platforms," said Ashok Wadhawan, President Manufacturing Business at Punj Lloyd. \r\n\r\n\u201cPunj Lloyd has been at the forefront of building industrial capabilites in defence manufacturing in the country across various domains, from small arms to artillery guns."