India Aviation MRO Market to Grow at an Impressive Rate until 2025
Stringent airworthiness norms and policies along with surging requirement for proper maintenance to drive the growth of India aviation MRO market
According to TechSci Research report, “India Aviation MRO Market By Industry (Passenger Aviation, Military Aviation, Cargo Aviation), By Component (Engine, Airframe, Line, Avionics, Modifications, Others), By Aircraft Type (Narrow Body, Wide Body, Regional Jet, Others), By End User (OEM, Aircraft Operator, Others), By Region, Forecast & Opportunities, 2025”, the India aviation MRO market is expected to grow at an impressive rate during the forecast period on account of growing need to maintain and renovate aircrafts in order to optimize their performance. Additionally, increasing initiatives by the government in terms of implementation of strict norms and policies pertaining to aircraft maintenance is expected to positively influence the market growth. Furthermore, increase in technological innovations is expected to create lucrative opportunities for the market growth. Also, surging demand for low-cost carriers is making headway for the growth of India aviation MRO market. Along with this, supportive government funding coupled with improved travel route networking is expected to aid the market growth in the years to come. Moreover, the number of aging aircraft fleets have increased considerably due to which, the India aviation MRO market is anticipated to rev up through 2025. However, there are certain factors such as lack of supporting infrastructure in developing economies with the high cost of health IT tools and aircraft downtime due to carrying out of complex MRO operations, which might act as major impediments to the growth of India aviation MRO market during the forecast period.
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The India aviation MRO market is segmented based on industry, component, aircraft type, end user, company, and region. Based on aircraft type, the market can be categorized into narrow body, wide body, regional jet, and others. Out of which, the narrow body aircraft segment dominated the market during the forecast period and is expected to maintain its leading position during the forecast period as well. This can be ascribed to the fact that airline operators are engaged in upgrading their plane models in order to facilitate cost-saving flights with enhanced fuel efficiency, which has subsequently strengthened the fleet of narrow-body planes. Along with this, wide body aircraft is anticipated to grow at the highest rate until 2025 on account of enormous transformation in terms of development of turbofan engines. Moreover, wide body planes incur a high-level percent of MRO expenditures, which can be accredited to complexity as well as improved maintenance, thereby further contributing to the growing trend.
Sr Technics India Private Limited, Bombardier Transportation India Pvt Ltd, GE Aviation, Air India Engineering Services Limited, Deccan Charters Limited, Indamer Aviation Pvt. Ltd, Max MRO Pvt Ltd., GMR Aeron Technic Ltd., Bird ExecuJet, Air Works India (Engineering) Pvt. Ltd. and others are some of the leading players operating in India aviation MRO market. The companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their market share.
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“India aviation MRO market is expected to witness significant growth during the forecast period on account of escalating demand for air travel. Additionally, rising threat of aircraft fuel contamination is further expected to create lucrative opportunities for the market growth over the next few years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based India management consulting firm.
“India Aviation MRO Market By Industry (Passenger Aviation, Military Aviation, Cargo Aviation), By Component (Engine, Airframe, Line, Avionics, Modifications, Others), By Aircraft Type (Narrow Body, Wide Body, Regional Jet, Others), By End User (OEM, Aircraft Operator, Others), By Region, Forecast & Opportunities, 2025”, has evaluated the future growth potential of India aviation MRO market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India aviation MRO market.
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