India Aircraft MRO Market Assessment, By Type [Maintenance-Line Maintenance, Component Maintenance, Airframe Maintenance, Engine Maintenance; Repair and Overhaul], By Industry [Passenger, Cargo, Military and Defence], By Aircraft Type [Aircraft-Wide Body, Narrow Body; Jets; Helicopters], By Periodicity [Scheduled Maintenance, Unscheduled Maintenance], By Operator [OEMs Aftermarket, Third Party Vendors], By Region, Opportunities, and Forecast, FY2016-FY2030F

India Aircraft MRO Market is anticipated to reach USD 3,584.22 million in FY2030 at CAGR of 10.9% during the forecast period FY2023-FY2030 and is valued at USD 1,834.25 million in FY2022.

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India Aircraft MRO Market is anticipated to reach USD 3,584.22 million in FY2030 at CAGR of 10.9% during the forecast period FY2023-FY2030 and is valued at USD 1,834.25 million in FY2022. India is the seventh-largest market for civil aviation worldwide. By FY2026, it is anticipated to overtake the second-largest market in the world, targeting a significant expansion growth for MRO facilities in India. Currently, imports in India account for over 90% of MRO needs, though domestic MRO market in India is still in narrower phase, it has enormous development potential.

The country is likely to become the third-largest buyer of commercial passenger planes in the world as there is an order value of more than 1000 aircrafts after US and China which results in 200–300 significant maintenance inspections being needed every year. Redelivery contracts can be met by MRO by replacing ageing aircraft in the fleets of various carriers. These numbers support the fact that India will eventually grow into one of the biggest MRO centres in the world. Strategic investors, Original Equipment Manufacturers (OEMs), and top MRO operators worldwide should consider investment potential in the Indian MRO industry given the sheer intensity of the demand for new aircraft and the ensuing MRO requirements over the future years.

Increasing fleet size, favourable governmental interventions, rising consumer demand, labour arbitrage, and expanding fleet size are a few of the major reasons that may support the expansion and development of MRO services in India. Redelivery maintenance contracts can also be considered as a key growth driver to support anticipated capacity expansion in the Indian MRO business, given that a sizeable amount of the current fleet is leased.

Growing Fleet Size Because of Increasing Demand Supports the India Aircraft MRO Market Growth

MRO demand in India is expected to increase considerably more quickly than the rest of the world, creating lucrative investment prospects for both domestic and international investors, OEMs, and top MROs worldwide.  Numerous domestic and overseas investors are showing interest towards making investments in India's MRO business due to recent mergers & acquisition taking place in the country. For instance, the MoU between Air India Engineering Services Ltd. (AIESL) and Pratt & Whitney, which aims to open a joint engine MRO facility in Mumbai, and the partnership between the Wadia group and SIA Engineering Company, which has been a significant development in the industry.

Diverse, Affordable Pool of Engineers is Readily Available Providing Lucrative Opportunities

India is renowned throughout the world for its robust engineering education equally applicable to the MRO sector as lot of potential from having a capable and strong crew . The availability of highly competent engineers who can be taught for a variety of technical MRO tasks is one of India's most important advantages to the rest of the world. The cost of labour, which accounts for a sizeable portion of the total cost of maintaining an airframe and its components, is significantly lower in India than it is elsewhere in the world, resulting in higher labour arbitrage.

Government Schemes

Vision 2040

Ministry of Civil Aviation has released Vision 2040 goal in FY2019 which will ensure to make India a global MRO hub that will meet the need of around 90% of MRO requirements and also foreign-registered aircraft generate at least 20% of the revenue for the Indian MRO sector.

Impact of COVID-19 on India Aircraft MRO Market

The pandemic has caused an oversupply of MRO services, which has hindered the expansion of the Indian MRO sector, which was anticipated to experience significant growth following the tax reforms of 2021. Additionally, creating an MRO ecosystem takes significant investment and extended lead times, these elements have had a big impact on the market. The pandemic effects have drastically decreased airline and MRO business while only marginally lowering prices. Players in the aerospace business now have less funding options due to the resulting drop in profitability.

Since most major inspections are now driven after COVID-19 outbreak, aircraft MRO sector is growing significantly. Regulators and OEMs have given short-term flexibility in scheduling airframe maintenance, but before an aircraft in hangar that passes an airframe check threshold can be put back into service, it must go through the necessary maintenance. There may be a short-term capacity issue with airframe as many of these aircraft will require tests conducted before they can return to service with over 2,500 aircraft anticipated to be taken from hangar in 2021 and 1,500 more in 2022. Given that many aircraft will be scheduled for inspections in the next two years, the large number of aircrafts return to service could lead to increased demand of the MRO services.

Impact of Russia-Ukraine War on India Aircraft MRO Market

Russia-Ukraine war has indirectly impacted the India Aircraft MRO Market as it affects the pricing of import of aviation oil in India. As a result, there is a noticeable change of air ticket pricing and rerouting of flights specially between Russia and India that affects trade business between India and Russia. These instances affected the Indian air travel industry which affected the India Aircraft MRO market significantly.

India Aircraft MRO Market: Report Scope

India Aircraft MRO Market Assessment, Opportunities and Forecast, 2016-2030F”, is a comprehensive report by Market Xcel, providing in-depth analysis and assessment of the current situation of the aircraft MRO market in India, industry dynamics and challenges. The report includes market size, segmental shares, growth trends, COVID-19 and Russia-Ukraine war impact, opportunities, and forecasts (2023-2030). Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.

Report Attribute

Details

Base Year for Analysis

FY2022

Historical Period

FY2016-FY2022

Forecast Period

FY2023-FY2030

Projected Growth Rate

CAGR of 10.9% between FY2023 and FY2030

Revenue Forecast in FY2030

USD 3,584.22 Million

Units

Revenue in USD Million and Volume in Thousand Units

Segments Covered

By Maintenance Type

By Repair and Overhaul

By Industry

By Aircraft Type

By Periodicity

By Operator

Regions Covered

Specific regions are not mentioned for this industry

Key Companies Profiled

Air Works India (Engineering) Pvt. Ltd., Air India Engineering Services Ltd., Deccan Charters Ltd., AAR-Indamer Technics Private Limited, Max MRO Pvt. Ltd., Taj Air Limited, Bird ExecuJet Airport Services Private Limited, GMR Aero Technic Ltd., Hindustan Aeronautics Limited (HAL), Bharat Electronics Limited (BEL)

Customization Scope

15% free report customization with purchase.

Pricing and Purchase Options

Avail the customized purchase options to fulfil your precise research needs

Delivery Format

PDF and Excel through email (subject to the license purchased)

Download Free Sample Report

 

In this report, India Aircraft MRO Market has been segmented into following categories:

1.       India Aircraft MRO Market, By Type

1.1.    Maintenance

1.1.1. Line Maintenance

1.1.2. Component Maintenance

1.1.3. Airframe Maintenance

1.1.4. Engine Maintenance

1.2.    Repair and Overhaul

2.       India Aircraft MRO Market, By Industry

2.1.    Passenger

2.2.    Cargo

2.3.    Military and Defence

3.       India Aircraft MRO Market, By Aircraft Type

3.1.    Aircraft

3.1.1. Wide Body

3.1.2. Narrow Body

3.2.    Jets

3.3.    Helicopters

4.       India Aircraft MRO Market, By Periodicity

4.1.    Scheduled Maintenance

4.2.    Unscheduled Maintenance

5.       India Aircraft MRO Market, By Operator

5.1.    OEMs Aftermarket

5.2.    Third Party Vendors

Key Player Landscape and Outlook

Strategic long-term alliances and contracts are expected to play a vital role in maximising the revenue share of commercial companies. Air Works India (Engineering) Pvt. Ltd., Air India Engineering Services Ltd., Deccan Charters Ltd., AAR-Indamer Technics Private Limited, Max MRO Pvt. Ltd., Taj Air Limited, Bird ExecuJet Airport Services Private Limited, GMR Aero Technic Ltd., Hindustan Aeronautics Limited (HAL), Bharat Electronics Limited (BEL) are the key players dominating India Aircraft MRO Market.

Key Players Operating in India Aircraft MRO Market

·         Air Works India (Engineering) Pvt. Ltd.

·         Air India Engineering Services Ltd.

·         Deccan Charters Ltd.

·         AAR-Indamer Technics Private Limited

·         Max MRO Pvt. Ltd.

·         Taj Air Limited

·         Bird ExecuJet Airport Services Private Limited

·         GMR Aero Technic Ltd.

·         Hindustan Aeronautics Limited (HAL)

·         Bharat Electronics Limited (BEL)

Market Xcel reports are based on qualitative and quantitative data collected through ‘on-ground’ primary research interventions. Based on our in-depth research, our reports can also provide granular city/state level market size data. The report includes deeper actionable insights provided by the industry experts & Key Opinion Leaders thus offering cutting-edge business solutions. The forecast data included in the report is based on ‘Drivers based forecasting’ technique ensuring accurate decoding of the future. 

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Table of Contents

1.       Research Methodology and Scope

2.       Aircraft Maintenance, Repair and Overhaul Service Overview

3.       Impact of Covid-19: Comparison of Pre and Post Market Scenario

4.       Impact of Russia Ukraine War on India Aircraft MRO Market

5.       India Civil Aviation Industry

5.1.    Traffic Inbound and Outbound

5.1.1.Pan India

5.1.2.Metro Cities (Delhi, Mumbai, Bengaluru, Chennai, Kolkata)

5.2.    Airline Expenditure Analysis

6.       India Aircraft MRO Market Outlook, FY2016 – FY2030F

6.1.    Market Size & Forecast

6.1.1.By Value

6.2.    Market Share & Forecast

6.2.1.By Type

6.2.1.1.              Maintenance

6.2.1.1.1.                    Line Maintenance

6.2.1.1.2.                    Component Maintenance

6.2.1.1.3.                    Airframe Maintenance

6.2.1.1.4.                    Engine Maintenance

6.2.1.2.              Repair and Overhaul

6.2.2.By Industry

6.2.2.1.              Passenger

6.2.2.2.              Cargo

6.2.2.3.              Military and Defence

6.2.3.By Aircraft Type

6.2.3.1.              Aircraft

6.2.3.1.1.                    Wide Body

6.2.3.1.2.                    Narrow Body

6.2.3.2.              Jets

6.2.3.3.              Helicopters

6.2.4.By Periodicity

6.2.4.1.              Scheduled Maintenance

6.2.4.2.              Unscheduled Maintenance

6.2.5.By Operator

6.2.5.1.              OEMs Aftermarket

6.2.5.2.              Third Party Vendors

7.       India Aircraft MRO Market Mapping, FY2022

7.1.    By Type

7.2.    By Industry

7.3.    By Aircraft Type

7.4.    By Periodicity

7.5.    By Operator

8.       Pricing Analysis (Top 5 Market Leaders)

9.       Indian Economy Driving Factors and Global Ranking

10.   Macro-Business Environmental Scope

10.1.                     PESTEL Analysis

10.1.1.    Political Factors

10.1.2.    Economic Factors (FY 2022)

10.1.3.    Social Factors

10.1.4.    Environmental Factors

10.1.5.    Legal Factors & Regulatory Policies

10.1.5.1.          Government Laws Including Licensing Terms for Operations

10.1.5.2.          Taxation Regulations

10.1.5.3.          Loyalty Fees By Indian Airports

10.2.                     Ease of Doing Business

10.3.                     Supply Chain Analysis (Industry Level)

10.4.                     Market Dynamics

10.4.1.    Trends and Developments

10.4.2.    Growth Drivers

10.4.3.    Growth Inhibitors

11.   Best Practice Case Studies by Key Market Players (Upto Three)

12.   Competitive Landscape

12.1.                     SWOT Analysis of Top Five Market Players

12.2.                     Market Competition Matrix of Top 5 Market Leaders

12.3.                     Market Revenue Analysis of Top 5 Market Leaders (in %, 2022)

12.4.                     Emerging Players and Substitutes (If Any)

12.5.                     Mergers & Acquisitions/ Joint Ventures (If Any)

13.   Competition Outlook (Service Providers)

13.1.                     Air Works India (Engineering) Pvt. Ltd.

13.1.1.    Company Details

13.1.2.    Top Management Personnel

13.1.3.    Key Products & Services            

13.1.4.    Financials (As reported)

13.1.5.    Key Market Focus & Geographical Presence

13.2.                     Air India Engineering Services Ltd.

13.3.                     Deccan Charters Ltd.

13.4.                     AAR-Indamer Technics Private Limited

13.5.                     Max MRO Pvt. Ltd.

13.6.                     Taj Air Limited

13.7.                     Bird ExecuJet Airport Services Private Limited

13.8.                     GMR Aero Technic Ltd.

13.9.                     Hindustan Aeronautics Limited (HAL)

13.10.                  Bharat Electronics Limited (BEL)

*Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work

14.   Strategic Recommendations

14.1.                     Standalone Entry or Joint Venture with Indian Player

14.2.                     Feasible Airports to Start Business

14.3.                     Possibility of Expansion Through Inorganic Route

14.4.                     Type of Aircraft to Begin Operations

14.5.                     Investment Estimates

15.   About Us & Disclaimer

List of Figures

Figure 1. India Aircraft MRO Market, By Value, In USD Million, FY2016 – 2030F

Figure 2. India Aircraft MRO Market Share, By Function Type, In USD Million, FY2016 – 2030F

Figure 3. India Aircraft MRO Market Share, By Industry, In USD Million, FY2016 – 2030F

Figure 4. India Aircraft MRO Market Share, By Aircraft type, In USD Million, FY2016 – 2030F

Figure 5. India Aircraft MRO Market Share, By Periodicity, In USD Million, FY2016 – 2030F

Figure 6. India Aircraft MRO Market Share, By Operator, In USD Million, FY2016 – 2030F

Figure 7. Type Map-Market Size (USD Million) & Growth Rate (%), FY2022

Figure 8. Industry Map-Market Size (USD Million) & Growth Rate (%), FY2022

Figure 9. Aircraft Type Map-Market Size (USD Million) & Growth Rate (%), FY2022

Figure 10. Periodicity Map-Market Size (USD Million) & Growth Rate (%), FY2022

Figure 11. Operator Map-Market Size (USD Million) & Growth Rate (%), FY2022

List of Table_India Aircraft MRO Market

Table 1. Pricing Analysis of Products from Key Players

Table 2. Competition Matrix of Top 5 Market Leaders

Table 3. Mergers & Acquisitions/ Joint Ventures (If Applicable)

Table 4. About Us - Regions and Countries Where We Have Executed Client Projects

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