Sankhya InfoTech, a listed firm providing simulation and cloud-based training management solutions for the aerospace sector, plans to expand its operations in the U.S. and South-East Asian markets to meet an increase in demand for its products, the company said in a statement.
Demand for commercial aircraft and growth of aviation is going to double over the next decade from the current 20,000 aircraft to more than 46,000 aircraft, according to the company.
“Much of this growth will happen in Asia and U.S. where fleet renewals will spur demand. Besides, defence modernisation and expansion of platforms is predicted to be concentrated in Asia and Americas due to increased threats in these regions.
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“In order meet these demands with local presence, Sankhya has established an international subsidiary in Singapore. The company has plans to significantly expand in the U.S. to cater to North and South American markets,” it stated.
Sankhya’s annual turnover was ₹161.60 crore in the last fiscal year. More than 1.5 million users across 50 global locations use the company’s solutions, according to the statement.
Sankhya, listed on BSE, also announced on Wednesday the appointment of a new Board of Directors.
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Bhaskar Pramanik, former chairman, Microsoft, Corporation (India) and former MD, Oracle and Sun Microsystems India; Anil Valluri, president, NetApp India and SAARC; and Ravindran Govindan, founder and executive chairman, Mercatus Capital Pte., have joined the team.