Phillips Machine Tools, the Indian subsidiary of the US-based Phillips Corporation, is projected to grow at 20 per cent to 25 per cent annually for the next five years, said Terrence Miranda, Managing Director. The company’s turnover in India is around $80 million, with an additional $20 million in South Asia.
The company expects its turnover in India to reach $1 billion within the next five years. Phillips Machine Tools, which provides advanced manufacturing solutions, has established partnerships with organisations such as HAL, ISRO, Titan Aerospace and Kalyani.
It collaborates with start-ups like Agnikul, specialising in 3D-printed rocket engines and Raphe, which focuses on drones and unmanned aerial systems (UAVs).
Strategic focus, expansion
Aerospace and defence account for approximately 15-20 per cent of its business. The automotive sector contributes 35-40 per cent, followed by oil and gas at 5-10 per cent, and the medical sector at 10-15 per cent.
Additionally, the company plans to enhance its manufacturing facility. Currently, over 20 per cent of its equipment is indigenously sourced, the company aims to increase this percentage significantly in the coming years, said Miranda.
The company is set to expand its operations with a new facility in Chakan, Pune, spanning across 200,000 square feet.and will be operational by January 2025. “This facility will enhance the production of high-end equipment, such as advanced five-axis machines, EDM and grinding machines, supporting sectors like aerospace, defence, testing and certification,” he told businessline.
Recently, Phillips Machine Tools partnered with Tata Technologies and Tamil Nadu Industrial Development Corporation (TIDCO) to supply subtractive technologies for its aerospace and defence centre of excellence in Coimbatore. The project is expected to begin operations by April-May next year. The company is also expanding its operations across South Asia, including Bangladesh, Sri Lanka, West Asia , and Malaysia regions with strong potential for metal additive manufacturing.