religare strategic advisory commentary - aircraft procurement - april 2010

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  • 8/9/2019 Religare Strategic Advisory Commentary - Aircraft Procurement - April 2010

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    Development of CapabilityThe IAF has evolved from its humble beginnings in October 1931, when it consisted of

    six officers, five pilots and four Westland Wapiti biplanes, into the fourth largest air

    force in the world. It has done this through a gradual process of evolution,

    modernization and learning from engagement in conflict.

    India in 2007 is a vastly different place to the India of 1963, when the MiGs were first

    commissioned by the IAF. Modern India needs an air force capable of defending its

    borders against terrorists, countering the nuclear threat of potential aggressors and

    helping to fulfill its growing role as a world food donor and provider of international

    aid. To achieve this goal, the Indian Air Force is undergoing a frantic modernization

    process as it attempts to attain world recognition.

    This commentary provides a quick round-up of some of the major procurement and

    design and development programs underway.

    A look at the present

    Aircraft procurement,

    design and development

    initiatives

    April 2010 I A Commentary on the Fixed & Rotary Wing Procurement, Design &

    Development Programs

    Light Combat Aircraft TEJAS

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    Program: Light Combat Aircraft (LCA) TEJAS

    Proposal finalized in 1983. Initial Development cost: US$ 124 million. Present cost (till date): US$ 2.89 billion Estimated delivery: First squadron to be

    delivered to the IAF by 2015

    Background: The LCA project was sanctioned

    to replace the ageing Mig-21 fleet of the IAF

    and to develop the indigenous Defence

    industry. Although approval for the

    development of the LCA was given in 1983, the

    actual design and development did not begin

    until June 1993. An entire decade was actually

    used to establish the Aerospace infrastructure

    that was almost completely non-existent tillthat time. ADA was nominated as the program

    manager, while Hal and DRDO were appointed

    as principal partners. Phase-1 focused on

    "proof of concept" and comprised the design,

    development and testing of two technology

    demonstrator aircraft (TD-1 and TD-2) and

    fabrication of a structural test specimen

    airframe. This was followed by the production

    of two prototype vehicles (PV-1 and PV-2), and

    creation of the necessary basic infrastructure

    and test facilities for the aircraft. Phase-2consisted of the manufacturing of three more

    prototype vehicles (PV-3 as the production

    variant, PV-4 as the naval variant, and PV-5 as

    the trainer variant) and a fatigue test specimen.

    Phase 1 commenced in 1990 and HAL started

    work on the technology demonstrators in mid-

    1991; however, a financial crunch resulted in

    full-scale funding not being authorized until

    April 1993. The first technology demonstrator,

    TD-1, was rolled out on 17 November 1995 and

    was followed by TD-2 in 1998, but they werekept grounded for several years due to

    structural concerns and trouble with the

    development of the flight control system. In

    the meantime, the development of the Multi-

    Mode Radar was started by Hal and LRDE in

    1997. LCAs maiden flight was successfully

    completed by TD-1, on Jan 4, 2001. The first

    supersonic flight of the TEJAS took place in

    August, 03. In all 2 technology demonstrators

    5 prototype vehicles (PV) and 8 pre-production

    aircraft were to be built. The IAF and the Navy

    had then projected a total requirement of 220

    aircrafts.

    Present situation: The TD-1, TD-2, PV-1, PV-2LSP-1, and LSP-2 have completed 1,341 flights

    in total. The maximum speed reached has been

    1.4 Mach. The manufacture of PV-5, which is

    the twin seated trainer version, has been

    completed. The IAF is projected to get its firs

    squadron of LCA only by 2014-2015. At present

    the IAF has only given a confirmed order of 40

    aircrafts. The navy has given a confirmed order

    of 9 aircrafts that are to be used on the

    indigenous aircraft carrier being built at the

    Cochin shipyard.PV-4 which was to be the Naval variant has

    now become the second production variant

    For the navy, 2 separate prototypes are

    planned, NP-1 (2 seater) and NP-2 (single

    seater). The LS-3 LCA is slated for its first test

    flight at the end of April, it will be fitted with an

    Elta MMR radar.

    The LCA has a maximum take-off weight of

    13,500kg. Its internal fuel capacity is 3000 liters

    that give it a maximum range of 3000 km. Its

    maximum speed is 1.8 Mach and its serviceceiling is 54,000 feet.

    The LCA is armed with 1 cannon carrying 220

    rounds and 8 hard-points. The exact

    combination of missiles is yet to be decided.

    The phase wise cost break-up in the

    development of the LCA till date is:

    Full Scale Engineering DevelopmentPhase-1, which was completed in

    March, 2004 US$ 486 million

    Full Scale Engineering DevelopmentPhase-2, which is projected for

    completion in December, 2012

    US$ 550 million

    Continuation of Full ScaleEngineering Development til

    December, 2018 US$ 1.178 billion

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    Development of the naval versionof the LCA US$ 210 million.

    In the 3rd week of April 2010, LCA-LSP-3 made

    the first flight. The LSP-3 is a quantum jump in

    terms of the equipment fit on the aircraft. It is

    almost the final configuration including the

    new air-data computers, Multi Mode Radar,(MMR) new communication and navigation

    equipment and radar-warning receiver.

    In its path towards Initial Operational Capability

    (IOC), a pair of LCA Tejas fighters -- Prototype

    Vehicle-3 (PV3) and Limited Series Production-2

    (LSP-2) -- were deployed to Jamnagar for a

    period of five weeks for testing by the South

    Western Air Command (SWAC). The trials

    entailed flight envelope expansion in various

    stores configurations, as well as air-to-ground

    weapon delivery trials in different modes ofweapon delivery.

    A Tejas Mark-2 is currently under development

    due to the inability of the Mark-1 to meet the

    IAFs requirements and the Navys

    requirements for operations from an aircraft

    carrier. The IAF is still considering an order of

    up to 125 aircraft when a re-designed Mark 2 is

    developed. The Mark 2 will have a more

    powerful engine, be heavier by 200kgs, have

    refined aerodynamics and other vital, yet

    undecided parts to be replaced to reduceobsolescence. The Indian Navys Mark 2 version

    of the Tejas will be capable of much shorter

    take off and landing distance from an aircraft

    carrier. A new engine in collaboration with

    Snecma is also under development for the

    Mark-2 LCA.

    Program: FGFA (Fifth Generation Fighter

    Aircraft)

    First designed by SUKHOI DESIGNBUREAU in 2000

    Development cost: Estimated atapproximately US$ 8-10 billion.

    Unit price: US$ 100 million

    Estimated Delivery: 2015 foRussian version (PAK-FA) and 2017

    for Indian version (FGFA).

    Detail: Although an Inter-Governmenta

    agreement was signed between Russia and

    India in 2007, it took more than 24 monthsafter that to freeze the design and other

    contractual parameters. Eventually, the

    commercial agreement was only verbally

    mentioned during Vladimir Putins visit to India

    in 2010. The designated parties were ROSS-

    TECHNOLOGY and HAL. According to the

    proposed agreement a total of 500 aircraft wil

    be manufactured. Whereas Russia will take the

    delivery of 200 Single seater and 50 Twin seater

    aircrafts, India will take the delivery of 200

    Twin seater and 50 Single seater aircraft.Sukhoi Design bureau has already designed 3

    prototypes and the first test flight took place

    on January 29, 2010. The flight trials are to be

    completed by 2012.

    The aircraft is of the 30 tone category. It will be

    powered by the Saturn AL-41F, which provides

    17.5 tons of thrust with after-burner. This

    enables the aircraft to have a SUPER-CRUISE at

    1.5 Mach. The FGFA will be the first non-

    american aircraft that will truly belong to the

    5th generation and also to have Super CruiseThe Radar Cross section of the FGFA is only

    0.5sqm, whereas for the Su30MKI, it is 20sqm

    The FGFA will be armed with Indian missiles

    such as the ASTRA. The final load is yet to be

    determined. The FGFA is supposed to have a

    maximum range in excess of 5000km with in

    flight refueling.

    HAL will contribute 25% towards the design

    and development of the FGFA. The fuselage wil

    be 25% Titanium and 20% composites. India

    will contribute its expertise in aircraftcomposites, developed while designing the

    LCA. Hals work share will also include the

    Mission computer, navigation systems, cockpit

    displays, counter measure dispensing systems

    and other critical softwares.

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    Program: BASIC TRAINER AIRCRAFT

    Development / Commercial of the Shelf

    Purchase (COTS) purchase

    HTT-40 designed by HAL RFI floated in October 2009.

    RFP floated for 75 units in Jan 2010.

    Background: The HAL built Hindustan Piston

    Trainer-32 (HPT-32) has been in use since 1984.

    The HPT-32 has experienced 90 incidents of the

    engine switching off in mid-air, leading to 19

    deaths and the loss of 17 aircrafts. On July 31 st

    2009, in one such incident, 2 senior instructors

    had a fatal crash. A court of enquiry, found that

    the engine had run dry and as a consequence

    the entire fleet of HPT-32s was grounded. The

    main reason behind the HPT-32s enginesuddenly going dry is the fact that the aircraft

    looses fuel supply if it does an inverted dive

    that is greater than 2G in magnitude. The IAF

    has now issued a RFP for Ballistic Parachutes,

    so that the HPT-32 will harmlessly float back to

    the ground in the event of an engine failure.

    However at present, due to the grounding of

    the fleet, it has lead to a situation where the

    IAF is left without a basic trainer.

    Present Situation: In January 2009, HAL

    offered to the IAF the Hindustan Turbo Trainer-40 (HTT-40). It said that it could deliver the

    basic trainer within 6 years. However the IAF

    was not quite sure and also it could not afford

    to wait for a basic trainer for 6 years.

    The IAF issued a RFP in January 2010 for 75

    basic trainer aircrafts. Companies in contention

    and their respective models are:

    o Raytheon- T-6 Texano Finmeccanica- M-311o Pilatus- PC-7 or PC-9o Grob- G-120TPo Korea Aerospace- KT-1o Embraer- Tucanoo EADS PZL (PZL-130-TC-11 orik)

    A pre-bidders conference was also held on

    February 2nd, 2010. The RFP states that the

    manufacturer will have to deliver the first 12

    aircraft within 24 months of the contract. The

    chosen trainer will remain in the IAF inventory

    for at least 30 years and the aircraft should

    have been recently certified. The responses to

    the RFP were submitted on March 17th 2010.

    Program: INTERMEDIATE JET TRAINER (IJT)

    HJT-36, SITARA

    Development started in 1999 by HAL. Initial Budget: US$ 40 million Initial Delivery: 2006

    Background: At present the IAF uses the

    Hindustan Jet Trainer (HJT-16) KIRAN for the

    stage-2 training. Induction of the Kiran fleet

    began in 1968. The aircraft have already

    clocked 6000 hours and are almost nearing the

    end of their life. There have also been 13 fata

    crashes over the last 10 years. The IAF had

    ordered 250 aircraft and its fleet strength has

    had a steady decline at the rate of 2 to 3

    aircraft every year.

    Present Situation: The speed of development

    of the HJT-36 was very impressive in the initia

    stages; from metal cutting to the first flight it

    took a span of only 20 months. However afte

    that there were several delays due to the

    Russian NPO-SATURN AL-551 engine. After

    receiving the engine from Russia, it was fitted

    on the first prototype PT1 and sent back to

    Russia for flight trials and certifications. This

    process was delayed in Russia and also the

    integration of the engine with other aircraft

    systems took longer than anticipated. So theprototypes were now powered by the French

    SNECMA LARZAC 04H20.

    The first flight with the NPO SATURN Al-551

    took place on May 09, 2010 in Bangalore. The

    flight lasted 30 min and consisted of only basic

    maneuvers. The Initial Operational Clearance is

    slated for June 2010 and HAL already has a

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    confirmed order of 12 limited series aircrafts.

    The total order is expected to be in the region

    of 225 aircrafts.

    Program: ADVANCE JET TRAINER (AJT) RFI issued in April 2009 for 57 aircrafts.

    Background: After negotiating for over two

    decades, India in 2004, signed a US$ 1.6 billion

    contract for 66 HAWK AJTs with BAE. The IAF

    received 24 aircraft in fly-away condition; the

    remaining 42 were to be assembled by HAL. Till

    the end of 2009, HAL had managed to deliver

    only 5 aircrafts as against the stipulated 25. The

    contract signed with BAE had an option for 40more aircrafts, however the IAF is not satisfied

    with the service level being offered by BAE and

    hence it is not exercising this option.

    Present Situation: The IAF does not want to be

    in a position where it does not have a sufficient

    number of AJTs. In April 2009, a RFI was issued

    to 6 companies for 57 aircrafts.

    The contenders are:

    o Alenia- M-346o Korean Aerospace- T-50o Aero Vodochody- L-159o Yak-130o MiG-ATo BAE- Hawk-136

    HAL is also pushing its twin engine HJT-39

    Combat Aircraft Trainer (CAT), as is DRDO and

    ADA with a trainer based on the LCA-TEJAS. The

    LCA-TEJAS derivative is very similar to South

    Koreas T-50 Golden Eagle.

    Program: LIGHT COMBAT HELICOPTER (LCH)

    HAL given sanction in October 2006. Initial Budget: US$ 24 million for

    building 2 prototypes.

    Initial delivery: 2010

    Detail: The LCH was first unveiled in 2003. It

    was expected to be operational within a period

    of 4 years. However the operational clearance

    was received from the MoD only in Octobe

    2006. HAL was to provide two prototypes by

    late 2008 and the Initial Operational Clearance

    was expected by November 2010.

    The LCH design was frozen in March 2008 and

    the first prototype TD-1 was to take flight

    within 1 year, followed by TD-2 which would be

    fitted with all the weapons and electronic

    sensors. By the end of 2009, the IAF was slated

    to conduct flight tests on TD-3.

    TD-1 finally took flight on March 29, 2010 at

    HALs helicopter complex in Bangalore. The LCH

    flew for 20min and provided a low speed, low

    altitude check of all systems onboard. The

    Initial Operational clearance is now slated for

    December 2011. HAL at present is trying to

    reduce the LCHs weight progressively over the

    first three prototypes. A total of 375 kg wouldbe reduced over the 3 technology

    demonstrators. However it means that the LCH

    could enter production 200 kg heavier than

    planned. HAL claims that the IAF has accepted

    this extra weight.

    The LCH is a 5.5 tone gunship with a narrow

    fuselage accommodating a pilot and a

    gunner/co-pilot in tandem configuration. It has

    a full glass cockpit; helmet mounted targeting

    systems and full day and night operationa

    capabilities. The twin-engine helicopter ispowered by SHAKTI engines that develop

    1200hp each- giving it a maximum air speed of

    275km/h. SHAKTI was jointly developed by HAL

    and TURBOMECCA of France.

    The armament suite comprises a combination

    of free flight 60/68mm rockets, MISTRAL AAM

    a nose mounted NEXTER 20mm canon and

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    other missiles. It will be fitted with the SAAB

    aviatronics ECM suite.

    To support operations at high altitudes, the

    LCH is designed to take off fully loaded at an

    altitude of 10,000feet and operate its weapons

    up to 16,300feet.

    Program: MEDIUM RANGE MARITIME

    RECONNAISSANCE AIRCRAFT (MRMR)

    6 units for the Navy 6 units for the Coast Guard RFI issued in Jan 2009. Coast Guard expected to conduct trials in

    May-June 2010. Estimated price for 6 units for Coast Guard:

    US$ 1 billion.

    Details: The Indian Navy and Coast Guard

    issued a RFI for 6 MRMR aircrafts in January

    2009. The expected ranges for the MRMR

    aircraft was about 500Nautical miles with an

    endurance of 6 hours.

    The Indian Navy wanted its MRMR aircrafts to

    be fitted with an Airborne Early Warningsystem and these aircraft would replace the

    Britten-Norman Islander and the Dornier 228.

    The possible contenders for the Navys MRMR

    aircraft are:

    Modified P8i from Boeing Falcon 9000 from Dassault,

    modified by IAI ELTA.

    P-99MPA from Embraer ATR-72ASW from EADS and Alenia CN-235MP from EADS-CASA.

    The Coast Guard will be conducting trials

    shortly. The contenders are the Russian Bereiv

    Be-200 and the American Bombardier Q400.

    The procurment of these survaillance aircraft

    has been fast tracked after the Mumba

    attacks.

    Program: MEDIUM COMBAT AIRCRAFT (MCA)

    First announced in 2006 as a follow upto the LCA.

    First design shown at AERO INDIA 2009 Estimated cost: US$ 1.2 billion fo

    development of 5 prototypes.

    Estimated delivery: 2020, Totaestimated requirement of 250 aircrafts

    Details: This aircraft would be Indias first foray

    in the 14-15 tonnes category; LCA is in the 10

    11 tonnes category and the FGFA is in the 20

    tonnes plus category. The MCA is planned as

    the replacement aircraft for the Jaguar and the

    MiG-27. The project is being undertaken with

    the partnership of the ADA, NAL and HAL. At a

    later stage, other DRDO laboratories would also

    play a role.

    The MCA is expected to be a twin seater, fifth

    generation fighter aircraft powered by the next

    generation KAVERI under co-development with

    SNECMA of France, having thrust vectoring and

    Super Cruise capabilities. The MCA is expected

    to incorporate an indigenous Active Scan rada

    and the ASTRA BVR missile. The composites fo

    building the MCA is under development at the

    Pune and Hyderabad DRDO laboratories, which

    are pursuing maximum stealth characteristics

    to enable the aircraft to have a very miniscule

    radar cross section. The MCA has now been re-

    named as the NEXT GENERATION FIGHTER

    AIRCARFT (NGFA).

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    Program: LIGHT UTILITY HELICOPTER (LUH)

    Procurement- Commercial Off The Shelf

    Purchase (COTS) / Design & Development

    Units: 197 COTS purchase & 187 Design& Developed by HAL.

    RFP for procurement issued in June2008; HAL given go-ahead in Feb 2009. Estimated cost: US$ 750 million COTS

    purchase.

    Offset Clause: 50%

    Details: The Indian Army and Navy want to

    replace their Chetak and Cheetah helicopters.

    An earlier RFP issued in 2006 was retracted in

    December 2007, when it was found out that

    the EUROCOPTER AS550 that was sent for trials

    was actually the civilian version. This previous

    RFP also stated that only 60 units were to be

    supplied in a fly-away condition with the

    remaining 137 units to be licensed

    manufactured by HAL.

    The fresh RFP stated that all units are to be

    supplied in a fly-away condition and the offset

    has been enhanced to 50%. Out of the 197helicopters, 133 are for the Army and 64 for

    the Navy. The RFP has been issued to:

    o Augusta Westlando Bell Helicopterso Eurocoptero Kamovo Sikorsky

    BELL has opted out of the competition as it has

    stated its inability to comply with the 50%offset clause in the RFP. The trials for the LUH

    were slated for August 2009; however the

    schedule was yet to be finalized.

    HAL has got approval for the design and

    development of an indigenous LUH in February

    2009. The approval finally came for building

    187 units and it was decided that either the

    Russians or Eurocopter would partner HAL in

    this project. The helicopters would supplement

    the 197 helicopters being bought off the shelf

    However in March 2010, HAL decided to not

    seek any foreign collaboration. The Indigenous

    LUH is expected to be of the 3tonnes categoryand have a range of 500 km. It would be

    powered by a single HAL/Turbomeca SHAKT

    engine and be able to carry a payload of 500

    kg. The first flight is scheduled for 2015.

    Program: ADVANCED ATTACK HELICOPTER

    (AAH)

    Units: 22 RFP Issued in MAY 2008/May 2009. Estimated cost: US$ 550 million.

    Details: Only 3 companies submitted their bids

    by the August 2008 deadline. These were

    Eurocopter, AugustaWestland and Kamov.

    Boeing had requested for an eight week

    extension to submit its bid, which was denied

    by the MoD. Bell withdrew from the

    participation, because its model on offer was

    no longer in production and was available only

    through the FMS route.

    Eventually the government retracted the RFP

    on March 24th, 2009 as none of the 3 bids

    conformed with the Staff Qualitative

    requirements. The IAF was of the opinion thatthey had not received offers from all the best

    available options.

    The IAF wants the twin-engine helicopters to

    have a turret gun of 20mm or higher caliber

    and be able to fire 70mm rockets at a range of

    1.2 kilometers. Also required is the ability to

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    employ air-to-ground, fire-and-forget missiles

    with a range of at least seven km, fitted with

    state-of-the-art electronic warfare protection

    suite and carry a radar warning receiver

    capable of intercepting, identifying and

    prioritizing multiple airborne and ground-based

    radio frequency emitters. Other requirementsinclude all-weather, all-terrain, and day-and-

    night operations capabilities.

    A fresh RFP was released in May 2009. The RFP

    was issued to:

    o AugustaWestland- AW129o Bell- AH-1Z Super Cobrao

    Boeing- Apache AH64D Block III

    o Eurocopter- Tiger HADo Kamov- Ka-50o Mil- Mi-28NEo HAL- Light Combat Helicopter

    Submissions were made by October 2009 and

    the first deliveries are expected only by end

    2012. The schedule for trials is yet to bedetermined.

    Program: HEAVY LIFT HELICOPTER

    Units: 15 RFP issued in MAY 2008/ May 2009 Contenders:

    o Boeing- CH47F Chinooko Sikorsky- CH-53Ko AugustaWestland- AW101o Mil- Mi-46

    Details: The original RFP was divided into 3

    parts. 6 helicopters were required to replace

    the existing fleet of Mi-26 helicopters. Anothe

    16 heavy utility helicopters were to be supplied

    for high-altitude aerial logistics and four of the

    same model will be configured for high-altitude

    combat search-and-rescue. This RFP waswithdrawn in March 2009 and a fresh one fo

    15 units was issued in May 2009 when UPA-2

    came into power. The responses to the RFP

    were submitted in October 2009. The offset

    proposals were submitted by January 2010

    and further details are awaited.

    Program: ANTI SUBMARINE WARFARE

    HELICOPTER (ASW)

    Units: 16 Estimated price: US$ 600 million RFP issued in late 2005

    Details: The Indian Navy wanted to purchase

    16 ASW helicopters as replacements for its

    losses to its AugustaWestland Seaking fleet.

    The Navys requirements included a physica

    weight of not more than 10-12 tons; ASW and

    search-and-rescue capabilities; a winch

    endurance of up to four hours; and an ability to

    host state-of-the-art electronic warfare

    systems. Responses were received from

    Eurocopter- EC725, NH Industries- NH90

    Sikorsky- S-70B and Lockheed Martin- MH-60R

    After receiving the responses, the NAVY was to

    hold trials in late 2006, but no schedule wasdetermined. In April 2007, it seemed that now

    the Navy had a change of plans and a fresh RFP

    was on its way. More details are awaited.

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    Program: MEDIUM LIFT HELICOPTER (MLH)

    Total Demand: 350 units

    Category: 10-12 tonnes

    Design and developed by HAL

    Details: HAL has been trying to develop a MLH

    since 2004; however it is still stuck in the

    design stage. The Navy, Army and Air force

    have now requested the MoD to procure the

    helicopters from overseas. HAL did try to tie up

    with Eurocopter and Mil to help in the design

    and development, but had to retract the RFP in

    July 2009 as the design parameters were

    changed. The production would have extended

    for a period of 10-15 years.

    Program: MEDIUM RANGE TANKER

    TRANSPORT (MRTT)

    Units: 6 Estimated cost: US$ 2 billion RFI issued in January 2010. Likely contenders:

    o IL-78MKIo EADS- Airbus A330o Boeing- KC-767

    Details: The IAF operates a fleet of 6 IL-78MKI

    tanker aircrafts. It had wanted 6 more aircrafts

    and during a previous competitive bidding the

    IL-78 had once again emerged as the most

    competitive bidder in June 2009. However the

    IAF wanted to purchase the EADS offering

    based on the Airbus A330 platform. The

    Cabinet Committee on Security over-ruled the

    IAF in September 2009and scrapped the entire

    bid, terming the EADS offering as too

    expensive.

    A fresh RFI has now been issued in January

    2010. Further details are awaited.

    Program: AMPHIBIOUS AIRCRAFT

    Units: 6 RFI issued in March 2010.

    Details: To keep an eye on uninhabited islands

    and carrying out search and rescue missions

    over the country's maritime zone, the IAF is

    planning to induct 6 amphibious aircrafts in to

    its fleet.

    The aircrafts are planned to be used for inter

    island communication and rapid response

    duties during emergencies such as a tsunami or

    reaching out to people stranded on islands or

    ships in the sea.

    The IAF wants an aircraft which should have a

    short take-off capability with a range of at least

    800 nautical miles so that they can cover a long

    range, they added.

    Canadian Bombardier and Russian Beriev are

    expected to receive the Request for Proposa

    (RFP), which is expected to be issued by the IAF

    soon.

    Program: HEAVY LIFT AIRCRAFT

    Unit: 10 Possible contender: Boeing C-17

    GLOBEMASTER

    Estimated cost: US$ 2.5 billion

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    Details: The IAF wants to replace and augment

    its fleet of Russian-made AN-32 and IL-76 air

    lifters. The C-17 with a payload of around 75-80

    tonnes can lift around 200 fully geared troops,

    and can be used for carrying armored vehicles,

    artillery guns and medium-sized helicopters

    from one place to another. It can take-off froma 3000ft runway and its operating range is 2450

    nautical miles. The sale will take place through

    the FMS route.

    P8I- Concluded C-130J- Concluded Mi17 V- Concluded

    Details: This note has been prepared by Religare Capital Markets

    (RCML) on the basis of publicly available information

    information provided by the company and promoters, neithe

    which have been independently verified by RCML. RCML or its

    employees shall in no circumstances whatsoever be liable o

    responsible for any inaccuracies, omissions, mistakes or errors in

    this paper and for any economic or any other loss or damage

    incurred or suffered by the reader/ user or any other person

    arising (whether directly or indirectly) out of or in connection

    with such information. This note has been prepared withou

    prejudice. Any and all information contained herein is based on

    good faith assumptions and is provided for general information

    purposes only. This information does not constitute an offer

    promise, warranty, or guarantee of performance. This document

    should not be used or relied upon for any purpose other than as

    intended by Religare Capital Markets Limited. Opinions expressed

    herein are subject to change without notice. RCML undertakes no

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    information or to correct any inaccuracies or omissions which

    may become apparent. (Assumption: 1USD = Rs.45)

    RELIGARE STRATEGIC ADVISORY is the arm o

    Religare addressing the segments of Aerospace

    Defence; Nuclear and Homeland Security providing

    Advisory Services, Project Management, Investment

    Related services and Supply Chain Management

    Col. K.V. Kuber

    Sr. Vice President - Investment Banking

    M: 9650498286, E: [email protected]

    Rahul Gangal

    Sr. Vice President - Defence Advisory Services

    M: 9650690869, E: [email protected]

    Ankur Gupta

    Sr. Manager- Defence Advisory Services

    M: 9560297134, E: [email protected]

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