HIZEAERO has signed a contract with Tata Boeing Aerospace Limited (TBAL), an affiliate of India's TATA Group, on the part of the aircraft, the company said in a regulatory filing on Friday December 13th.

The deal is a contract to supply parts for eight years from 2020 to 2027. Its contract size is about 8.8 billion won, which is 19 percent of its sales in 2018.

TBAL is a joint venture established in 2015 by India's flagship company TATA and U.S. Boeing. It produces a number of aircraft structures, including aircraft fuselage and wings, and has recently shown rapid growth through brisk investment in the civil aircraft business sector and new orders for supplies.

"This contract is the starting point for India, which will become the world's third-largest air market in 2020, and is expected to see more growth next year as additional orders from Indian aviation companies, including TBAL, are also expected," a HIZEAERO official said.

In addition, he expressed his commitment to maintain partnership with foreign customers and to ensure more stability in delivery and quality, which is drawing keen attention in the future.