India Aviation MRO Market Segmented By Aircraft Type (Fixed Wing Aircraft, Rotary Wing Aircraft), By Component (Engine MRO, Avionics MRO, Airframe MRO, Cabin MRO, Landing Gear MRO, Others), By End User (Commercial, Military, Aviation), By Region, Competition, Forecast and Opportunities 2029
Published Date: January - 2025 | Publisher: MIR | No of Pages: 280 | Industry: Aerospace and Defense | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationIndia Aviation MRO Market Segmented By Aircraft Type (Fixed Wing Aircraft, Rotary Wing Aircraft), By Component (Engine MRO, Avionics MRO, Airframe MRO, Cabin MRO, Landing Gear MRO, Others), By End User (Commercial, Military, Aviation), By Region, Competition, Forecast and Opportunities 2029
| Forecast Period | 2025-2029 |
| Market Size (2023) | USD 2.18 Billion |
| CAGR (2023-2029) | 7.34% |
| Fastest Growing Segment | Rotary Wing Aircraft |
| Largest Market | North |
The India aerospace and defense industry greatly depends on the maintenance, repair, and overhaul (MRO) sector, which assures the availability and airworthiness of aircraft. India is one of the largest civil aviation markets and opening a sizable development window for MRO facilities in India will generate new opportunities. India's mostly MRO needs are now satisfied by imports. The domestic MRO market in India is still in its development stage but has enormous development potential. The aviation industry's growth will be the key driver of the sector's expansion. Until the regional MRO business catches up to its overseas competitors in terms of scale and certified scope of services, dependence on foreign MROs is likely to remain intact.
Companies eager to get involved and meet the MRO requirements for military aviation are closely monitoring this market because of the growth of the aviation industry, manufacturing capacity for aircraft parts and equipment, growing interest from private players, and establishment of some MRO facilities within India (mostly with OEM support). Only a few firms have experience in this field by supporting civil aviation MRO facilities, working with OEMs, or creating their own knowledge. As capabilities are developed and privatization increases, more businesses are entering military aviation. However, it is important to recognize the significant differences between civil and military aviation standards.
Recent Developments
- The Indian government has
taken various initiatives to promote MRO activities in the country. For
instance,as of year 2021 the government has allowed 100% FDI in the MRO sector,
which has attracted foreign investments. The government has also set up MRO
facilities in various parts of the country, such as Nagpur, Hyderabad, and
Bangalore. Similarly, Air India announced a purchase of 470 brand-new Boeing
and Airbus aircraft in 2022, and it will generate revenue for India MRO market.
Market Overview
India Aviation MRO Market Drivers
MRO demand in India is predicted to increase far more quickly than the rest of the globe, presenting both, domestic and international investors, OEMs, and top MROs with lucrative investment potential. Through partnerships and alliances, several domestic and international firms may potentially think about making investments in India's MRO industry. A few noteworthy developments in the market include the MoU signed between Air India Engineering Services Ltd. (AIESL) and Pratt & Whitney to open a joint engine MRO facility in Mumbai and the partnership between the Wadia group and SIA Engineering Company. Such changes pave the way for a vibrant MRO market that promises to give India a robust operational ecosystem for both local and international trade.
Common sale and lease-back arrangement offering a broad range of maintenance services for redelivery, which is a crucial component of an airline's and lessor's MRO requirements is maintenance, particularly in India, where the sale-and-leaseback model is popular. This is a significant opportunity for both extensive maintenance and component repair. This is now being carried out primarily outside of India due to the several legal and technological restrictions.
Adoption of digital technologies like big data analytics, artificial intelligence (AI), and the Internet of Things (IoT) to increase operational efficiency and save costs is one of the key trends in the Indian MRO industry. The growing use of environmentally friendly MRO practices, such as recycling and lowering trash creation, is another trend. Similarly in the forecast years, the rise in the fleet of the aviation sector in India is also expected to generate new opportunity.
The increasing aircraft fleet, increased air traffic, and government initiatives to assist MRO activities in the country are just a few of the factors boosting the Indian MRO industry's development. The growth of smaller airlines and India's emergence as a center for low-cost carriers have both contributed to the MRO industry's rise in the country. In conclusion, the Indian MRO market is a dynamic industry with enormous potential. Market participants may take advantage of the chances created by the country's rising need for MRO services. In the upcoming years, the Indian MRO market is anticipated to rise due to government attempts to encourage MRO activity in the nation and an increase in aviation traffic.
India Aviation MRO Market Challenges
The economy of scale advantage prevents new MRO suppliers from entering the market by forcing them to decide between entering on a large scale and running the risk of a negative response from established businesses and entering in a small capacity and accepting a cost disadvantage. Both are unfavorable options. It is commonly emphasized that lack of skilled engineering, design, and technical manpower is a challenge. The government has, however, recently expanded its efforts to advance the aerospace sector. The general expansion of the Indian MRO industry would open job opportunities and perhaps even promote reverse migration.
Despite the growth potential, the Indian MRO market faces some challenges. One of the main challenges is the lack of skilled labor, which affects the quality of services provided and hinders the growth of the market. The high tax structure, including customs duty, is another challenge that increases the cost of MRO services, making them less competitive in the global market. The lack of proper infrastructure, such as maintenance facilities and testing equipment, is also a challenge that affects the growth of the market.
Market Opportunities
Opportunities in the India MRO market are vast, and players in the market can capitalize on them by offering specialized services, such as engine maintenance, component repair, overhaul, and avionics maintenance. The market also offers opportunities for players to set up MRO facilities in various parts of the country, as the demand for MRO services is expected to increase in the coming years. Government initiatives are also generating new opportunities. So overall in the forecast years, the market is expected to exhibit an impressive growth rate.
Market Segmentation
The India aviation MRO market is segmented by aircraft type, component, end user, company, and region. Based on aircraft type, the market is segmented by fixed wing aircraft and rotary wing aircraft. Based on component, the market is segmented into engine MRO, avionics MRO, airframe MRO, cabin MRO, landing gear MRO, and others. The market analysis also studies the region wise segmentation to devise market into North, South, West & East India
Company Profiles
Air India Engineering Services Ltd (AIESL), Air Works India Engineering Pvt. Ltd, Deccan Charters Private Limited, Indamer Aviation Pvt. Ltd., Max MRO Private Limited, Taj Air Ltd, GMR Aero Technic Limited, and Bird ExecuJet Airport Services Pvt Ltd.
|
Attribute |
Details |
|
Base
Year |
2023 |
|
Historical
Years |
2019 –
2022 |
|
Estimated
Year |
2024 |
|
Forecast
Period |
2025 – 2029 |
|
Quantitative
Units |
Revenue
in USD Billion, and CAGR for 2019-2023 and 2024-2029 |
|
Report
Coverage |
Revenue
forecast, company share, competitive landscape, growth factors, and trends |
|
Segments
Covered |
Aircraft
Type Component
End User Region |
|
Regional
Scope |
East India, West India,
North India, and South India. |
|
Country
Scope |
India |
|
Key
Companies Profiled |
Air
India Engineering Services Ltd (AIESL), Air Works India Engineering Pvt. Ltd,
Deccan Charters Private Limited, Indamer Aviation Pvt. Ltd., Max MRO Private
Limited, Taj Air Ltd, GMR Aero Technic Limited, and Bird ExecuJet Airport
Services Pvt Ltd. |
|
Customization
Scope |
10%
free report customization with purchase. Addition or alteration to country,
regional & segment scope. |
|
Pricing
and Purchase Options |
Avail
customized purchase options to meet your exact research needs. Explore purchase options. |
|
Delivery
Format |
PDF and Excel through
Email (We can also provide the editable version of the report in PPT/pdf format
on special request) |
FAQ'S
For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:
Within 24 to 48 hrs.
You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email
You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.
Discounts are available.
Hard Copy