India Takes Off: MRO Market to Hit USD 4 Billion by 2031

India's Maintenance, Repair, and Overhaul (MRO) market is set to reach USD 4 billion by 2031, said Civil Aviation Minister K Rammohan Naidu. The inauguration of Safran's facility boosts India's aviation sector, promising cost savings and positioning the country as a global aviation hub.

India's aircraft Maintenance, Repair, and Overhaul (MRO) market is poised to grow to USD 4 billion by 2031, offering significant opportunities for the industry, according to Civil Aviation Minister K Rammohan Naidu. His comments came during the opening of Safran's MRO facility in the city.

The minister emphasized India's positioning as a global destination for aircraft maintenance. The new Safran Aircraft Engine Services India (SAESI) facility, expected to be operational by 2026, aims to enhance India's indigenous capabilities in the rapidly advancing aviation sector.

Naidu noted that domestic MRO activities could potentially save up to USD 15 billion in foreign exchange, with airlines passing these cost savings onto passengers. With over 1,500 planes on order, India's MRO sector is projected to maintain a growth rate of 8.9%, solidifying its role as a burgeoning global aviation hub.

(With inputs from agencies.)