Aequs acquires T&K Machine

Aequs Pvt. Ltd., a Karnataka based aerospace component manufacturer, has acquired Paris based aerospace component maker T&K Machine Inc., for an undisclosed amount. It will help Aequs to expand its footprint in North American market. T&K Machine has been supplying machined parts and assemblies to the aerospace industry since 1968 and has a wide range of manufacturing capabilities.

Aequs, founded in 1997 as an engineering services firm called QuEST Global Manufacturing based out of the US, started manufacturing aerospace and defence components in 2006. It has a presence in the aero structures (wings, air frames etc.), aero systems (hydraulic valve actuators etc.) and landing gear segments of aerospace manufacturing, and supplies to all major aerospace and aviation companies.

T&K is a US export control approved facility with 65 employees, which will help Aequs in the North American market. In February, Aequs acquired Bangalore based Simulation Designs, which makes high precision components for spacecraft and satellites, for Rs 6 crore. In November last year, Aequs had announced that it is planning to invest about $100 Million in India and abroad by 2020 to expand its geographical reach, add new capabilities and scale up revenues.

Indian aerospace and defence will grow at a compounded annual growth rate of 13.6% to become a $70 Billion market by 2018, according to Grant Thornton India, a consultancy. Aequs will now offer its global aerospace machining platform over one million hours to Boeing and its tier 1 suppliers across the world. 

XCOR ties up with Fortpoint

XCOR Aerospace is an American private rocket engine and spaceflight development company based on the Mojave Spaceport in Mojave, California. XCOR was formed members of the Rotary Rocket Engine development team in September, 1999. XCOR is headed by Jeff Greason.

XCOR Aerospace is developing the tourist rocket plane, has tied up with Mumbai based Fortpoint Automotive to woo more Indians to take its space tours, expected to take off next year. A few Indians have booked their tickets in a passenger spacecraft that will blast them into space, 100 km beyond earth’s gravity, to a spot from where one can see the curvature of our planet, shelling out about Rs 62 Lakh or $100,000.

The idea of space tourism took off in 2004 when British entrepreneur Richard Branson launched Virgin Galactic to start a space travel programme. About 800 people including Stephen Hawking, Tom Hanks, Angelina Jolie, and Kerala based businessman Santosh George Kulangara have already booked their ticket to board Virgin Galactic SpaceShip Two, which costs $250,000, which is about Rs 1.55 crore.

According to Virgin Galactic, many Indians have shown interest in its space tour. But it is not clear who will start commercial operations first, particularly after a SpaceShip Two crashed in November last during a test flight, bringing a lot of latent apprehensions to the fore. As part of XCOR move to woo Indians for its space tour programme, a full scale model of its spacecraft, the Lynx, will be displayed at the Luxury Festival, organized by Quintessentially Lifestyle Services India in Delhi in April.