data does not show Bombardier to be a credible competitor to Alstom. In the Non-CBTC segment, a sizeable proportion of the projects constitute non-contestable bids with a limited number of contestable projects. Bombardier is an insignificant player in these contestable bids in the Non-CBTC segment. Siemens is a major player in projects with a higher order intake value with a significant market share. Similar results were also obtained from value-weighted bid analysis. Further, even as per the third-party responses and data submitted by the Parties, the Commission noted the presence of other credible and big competitors operating in the urban signalling segment, which are Siemens, Hitachi-Ansaldo, Nippon and Thales. Furthermore, a number of international suppliers such as Hyundai Rotem, Stadler Rail AG, CRRC, CRSC, and Beijing TCT, with their own CBTC signalling solutions have considerable presence in the international markets and are expected to enter the CBTC signalling segment in India. In this regard, the Commission also noted that the main customers / end-users for solutions in the urban signalling segment are metro rail corporations, who possess significant countervailing buyer power as they are capable of designing tenders and structuring the bid contest in such a way that fosters competition and maximises their incentives.
