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Indian Commercial Aircraft and Engine MRO Market Analysis
Frost & Sullivan, Nov 2005
Thriving Indian Aviation Industry Lays Foundation for MRO Market Growth
The Indian aviation industry is experiencing massive growth as is evident from the sharp rise in the number of air travellers from around 49 million in 2003 to 59 million in 2004. This is largely due to the entrance of several no-frills, low-cost airlines that have made air travel more accessible than ever before to people from different sections of society. The boom in the aviation industry has set the stage for huge growth in the aircraft maintenance, repair and overhaul (MRO) market. Both government and private equity organisations are increasing investment in this area with the intention of providing reliable and cost-effective maintenance services to all Indian carriers. Simultaneously, they hope to attract foreign airlines that provide high-quality MRO services and offer competitive advantage. This will also help fulfil certain mandatory and defined quality thresholds.
This Frost & Sullivan research service addresses the growing aircraft and engine MRO market in India. It provides expansive forecasts and analysis based on different end-user groups, which can help participants understand the evolution of the MRO market over the years as well as changes in end-user preferences. The in-depth trend analysis provided in the study helps to optimise profitability based on the needs and expectations of the market.
Competitive Pricing Combined with High Quality Critical for Success
Currently, both existing and emerging Indian MROs have developed threshold competencies that satisfy both end-user needs and regulatory requirements. However, the entry of newer participants in this high-growth market is likely to lead to increased competition and compel them to proactively invest in expanding their competencies even further. In particular, emerging MROs need to work innovatively in both providing services and creating competitive pricing strategies
Developing a total solution portfolio is a key success factor, says the analyst of this research service. MROs that are able to offer a comprehensive portfolio of service products can suitably position themselves as long-term strategic partners to the operators adopting the favoured outsourcing strategy.
Explosive Growth in Air Traffic and Aircraft Utilisation Drives Aircraft and Engine MRO Market
The Asia Pacific region - particularly India, China and west Asia - is set to drive massive growth in the aviation industry over the next few decades. Global investors are flocking to the dynamic Asian aviation industry and are displaying particular interest in the Indian market. This is because India has witnessed tremendous growth in air traffic in recent years due to the proliferation of numerous low-cost carriers. There has also been a significant increase in domestic and international fleet movements and utilisation.
The aircraft and engine MRO market is highly correlated with air traffic growth and aircraft utilisation (hours/cycles), says the analyst. In line with this and with the growing domestic and international fleet pool, the MRO market in India is set to truly take off.
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