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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