HAL aspires to be $6 billion firm in a decade: Ashok Nayak

"HAL plans to provide seamless maintenance support, encompassing first and second line support, for aircraft and helicopters at customer bases," he said.

The target would call for a multi-fold increase in production requirements and HAL believes growth in India's aviation sector will act as an opportunity for the over seven-decade-old company to meet its objectives, Nayak said.

With 19 production units and 10 research design centres at eight locations across India, the company has an impressive track record, including 14 types of aircraft manufactured with in-house R&D and 14 produced under licence, he said.

HAL has positioned itself as a comprehensive solutions provider to the Indian Defence Services in aviation, contributing to modernisation efforts by manufacturing aircraft and helicopters of various types and using diverse technologies, he said.

"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.