“To obtain this license, you need to demonstrate capabilities, such as owning the necessary equipment and conducting R&D on it. India does not yet produce aerospace-grade titanium in the quantities or quality needed. For sectors like space and defence, this poses a significant challenge,” he said, adding that the company will incorporate it into its new 20,000 sq. ft facility in Chakan, Pune.
PMT is working to source titanium from international markets, including the US and Germany, while also exploring regional exports to make it easier to procure.
Currently, the company operates facilities located in Bengaluru, Pune, and Vadodara. It also operates across South Asia—Bangladesh and Sri Lanka—as well as the Middle East and Malaysia and deals in metal additive manufacturing.
Miranda explained that the current consumption of certain alloys in India is significant but, by global standards, especially compared to the US, it’s not very high. However, viewing this as an early trend, the company wants to have the “capability to manage the entire process—importing, storing, and distributing” and become a leader in advanced manufacturing technologies.
“This would open doors to industries like clean energy, healthcare, robotics, and space exploration.”
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As per Technova—a consulting firm—the overall Indian precision tool market for defence and non-defence is expected to grow to $102 billion by 2027, and the industry segment is expected to expand at a CAGR of 9.4% between 2023 and 2028.Beyond titanium, PMT is exploring a range of advanced 3D-printable raw materials to support the aerospace and defence startups that face a challenge in importing, including Inconel, various high-performance aluminium alloys, and other materials designed for extreme conditions.
Forging 155mm artillery shells
Miranda highlighted the company’s long-standing relationship with American and Israeli companies in aerospace and defence manufacturing, which are extensively leveraged in gun manufacturing—small arms like rifles and even larger barrels.
PMT will begin work this month on the first shell forging line for 155mm shell artillery. “We’ve partnered with a leading South Korean manufacturer to bring this advanced technology to India, enhancing the country’s role in the global supply chain,” he said, adding that the forging line, designed for producing 155mm artillery shells, will increase India’s capacity to meet the growing demand for high-precision defence components in the country and across the globe.
This installation is part of a broader collaboration with several private-sector companies in Pune, Uttar Pradesh, Bangalore, Gaya, Indore, and Hyderabad.
PMT generates an annual turnover of approximately $80 million in India and $100 million across South Asia. While its revenue from the defence sector is a smaller share, the company is bullish on scaling it to $1 billion in the coming years.
