Increased Domestic Airline Activity Powering the Commercial Aviation MRO Industry
India’s aviation sector is among the fastest growing in the world and set to become the third largest globally. The current commercial aircraft fleet size is estimated to grow from about 714 aircraft to 2,000 aircraft within the next decade. This aligns with the government’s plans to build 220 new airports and add 1,000 new routes by 2026. The rising middle class will fuel the growth in air passenger traffic at an expected CAGR of 8.5%. India outsources nearly 90% of its MRO services to Singapore, Malaysia, the United Arab Emirates, and Sri Lanka, indicating a sizeable supply-and-demand gap, negatively impacting the trade deficit.
Therefore, the Government of India aims to promote India as a global MRO hub and provides a host of initiatives supporting this goal. The revenue opportunity in the country’s aviation MRO industry is immense. This report analyzes the Indian commercial aviation MRO market, highlighting critical industry trends, competitor landscape, market drivers, and restraints. Based on these findings, the study identifies vital short-term and long-term growth opportunities in the relevant MRO segments.
