Bharat Forge has signed a strategic Memorandum of Understanding (MoU) with French-Canadian airship technology company Flying Whales to jointly develop, manufacture and deploy advanced heavy-lift airships for India's defence and national security sectors. According to the company's exchange filing on Wednesday, July 22, the agreement was signed by Guru Biswal, CEO of Bharat Forge Aerospace, and Sastien Bougon, President of FLYING WHALES, at the Farnborough International Airshow 2026. The partnership aims to establish manufacturing, integration and production of FLYING WHALES-Bharat Forge airships in India, supporting the government's Aatmanirbhar Bharat and Make in India initiatives. This collaboration positions India among a select group of nations with the capability to design and build heavy-lift airships, addressing critical requirements for strategic mobility and logistics. As per NDTV Profit, the partnership combines Flying Whales' technology with Bharat Forge's engineering expertise to build a sovereign capability and create a new industrial ecosystem for strategic mobility.
The collaboration will focus on the LCA60T, FLYING WHALES' next-generation heavy-lift airship capable of carrying up to 60 tonnes of cargo. As reported by Business Standard, the platform features vertical take-off and landing (VTOL) capability, hybrid-electric propulsion and requires minimal ground infrastructure, making it suitable for operations in remote and challenging terrains. The companies will explore applications in defence logistics including logistics support to forward operating bases, transporting oversized military equipment and critical supplies, intelligence, surveillance and reconnaissance (ISR) missions, communication relay systems, humanitarian assistance and disaster relief operations. The central platform of the alliance is FLYING WHALES' LCA60T, which is capable of hauling 60 tonnes of cargo directly to remote sites without needing airports. The airship features hybrid-electric propulsion and is designed for point-to-point operations in challenging and remote environments, offering a new dimension of strategic mobility for the nation. According to NDTV Profit, the platform could be deployed for logistics support to forward operating bases, transportation of oversized military equipment and critical supplies, intelligence, surveillance and reconnaissance (ISR) missions, communication relay systems, humanitarian assistance, disaster relief operations and rapid deployment across remote border regions. Amit Kalyani, Vice Chairman & Joint Managing Director of Bharat Forge, stated that the partnership redefines how nations move and sustain forces, with "Airships will redefine how nations move, supply and sustain their forces, and India will lead that change." He added that the partnership combines Flying Whales' technology with Bharat Forge's engineering expertise to build a sovereign capability and create a new industrial ecosystem for strategic mobility.
Bharat Forge closed FY26 with consolidated revenue of ₹16,811.65 crore, growing at approximately 11.17% YoY from ₹15,122.80 crore in FY25. The company's full-year consolidated net profit increased to ₹1,079.66 crore in FY26 from ₹941.15 crore in FY25, representing a growth of approximately 14.72% YoY. The company maintains a robust domestic defence order book of ₹10,961 crore as of FY26, supporting its aerospace and defence pipeline. In June 2026, the Ministry of Defence awarded Bharat Forge a ₹425 crore contract for 12 Marine Gas Turbine Generators for the Indian Navy, utilizing 60% indigenous components. The Board has recommended a final dividend of ₹6.5 per share (325% of face value) for FY26, with payment scheduled on or after August 14, 2026, subject to shareholder approval.
According to the exchange filing, the proposed localisation programme is expected to create high-technology jobs, develop an advanced domestic aerospace supply chain and open up future export opportunities. Amit Kalyani, Vice Chairman & Joint Managing Director of Bharat Forge, stated that the partnership aligns with the government's Aatmanirbhar Bharat vision and is aimed at creating long-term strategic capabilities. He emphasized that "Aligned to the spirit of Aatmanirbhar Bharat, we are creating a sovereign capability, a new industrial ecosystem and an entirely new dimension of strategic mobility for the nation." The partnership positions India among a select group of countries with indigenous heavy-lift airship capabilities by combining Flying Whales' pioneering technology and Bharat Forge's six decades of advanced engineering strength and deep understanding of India's defence needs. Tanguy Lestienne, CEO of FLYING WHALES SERVICES, said the collaboration is aimed at building a long-term airship manufacturing ecosystem in the country, stating "Together, we will build in India, for India and for the world, laying the foundations of an airship industry that will serve this region for generations." The joint development introduces vertical take-off and landing and hybrid-electric propulsion technologies to India's defence logistics, representing a highly strategic entry into heavy-lift rigid airship systems. The proposed localisation programme is expected to generate high-technology employment, develop an advanced supply chain, and create future export opportunities, thereby strengthening India's position as a global aerospace manufacturing hub.
The partnership represents a high-moat technology positioning for Bharat Forge in local and regional export markets, potentially boosting its long-term aerospace margins. Bharat Forge's shares were trading 0.22% lower at ₹2,198 apiece at around 12:10 pm on the day of the announcement, as reported by NDTV Profit, while the BSE Sensex was down 0.83% at 76,828. The company has consistently evolved from an automotive component manufacturer into a premier high-technology defence player, with this airship partnership establishing a manufacturing base in India for strategic defence applications. The addition of heavy-lift airship solutions to Bharat Forge's aerospace and defence portfolio is expected to enhance its appeal as a primary sovereign defence contractor, with commercialization scaling over several years while building capabilities for India's long-term military modernization push. The partnership is positioned to address critical requirements for strategic mobility and logistics, with the LCA60T platform particularly suited for rapid deployment in remote border regions and difficult terrains. Tanguy Lestienne, CEO of FLYING WHALES SERVICES, noted that "The LCA60T was conceived to reach the world's most remote and demanding locations, and that promise finds its fullest expression in India, with its vast geography, challenging terrain and extraordinary ambition."
