The Government of Karnataka has given in principle approval to Dynamatic Technologies for the establishment of an Aerospace Component Manufacturing Facility, which will be spread over 35 acres of land at the Aerospace Park to be set up by the Karnataka Industrial Area Development Board (KIADB) near the International Airport in Bangalore.
Recognizing Aerospace as the Next Big Thing after IT, the KIADB which has so far developed 126 industrial areas across Karnataka, had acquired 3,000 acres of land to set up an Industrial Park for Aerospace Production Activities to meet the demand of the domestic industry as well as to add up the exports share. Apart from Dynamatic Technologies, it is expected that Hindustan Aeronautics Limited (HAL) will, through its joint ventures, invest in the Aerospace Park. A few foreign firms have also evinced serious interest in investing in the Estate.