India Aerospace And Defense Mro Market Size & Outlook
India aerospace and defense mro market, 2018-2030 (US$M)
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India aerospace and defense mro market highlights
- The India aerospace and defense mro market generated a revenue of USD 2,910.9 million in 2021 and is expected to reach USD 6,650.5 million by 2030.
- The India market is expected to grow at a CAGR of 9.6% from 2022 to 2030.
- In terms of segment, engine was the largest revenue generating product in 2021.
- Line is the most lucrative product segment registering the fastest growth during the forecast period.
Aerospace and defense mro market data book summary
| Market revenue in 2021 | USD 2,910.9 million |
| Market revenue in 2030 | USD 6,650.5 million |
| Growth rate | 9.6% (CAGR from 2021 to 2030) |
| Largest segment | Engine |
| Fastest growing segment | Line |
| Historical data | 2018 - 2020 |
| Base year | 2021 |
| Forecast period | 2022 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Engine, Airframe, Line, Components |
| Key market players worldwide | AAR Corp, SIA Engineering Co Ltd, Embraer SA ADR, Air France-KLM, RTX Corp, Delta Air Lines Inc, General Dynamics Corp, MTU Aero Engines AG, Deutsche Lufthansa AG, Honeywell International Inc, Boeing Co |
Other key industry trends
- In terms of revenue, India accounted for 2.7% of the global aerospace and defense mro market in 2021.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China aerospace and defense mro market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 32,225.2 million by 2030.
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Aerospace And Defense MRO Market Scope
Aerospace And Defense MRO Market Companies
| Name | Profile | # Employees | HQ | Website |
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India aerospace and defense mro market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to aerospace and defense mro market will help companies and investors design strategic landscapes.
Engine was the largest segment with a revenue share of 44.8% in 2021. Horizon Databook has segmented the India aerospace and defense mro market based on engine, airframe, line, components covering the revenue growth of each sub-segment from 2018 to 2030.
According to the Indian Brand Equity Foundation (IBEF), India has become the third-largest domestic aviation market in the world and is expected to overtake the UK to become the world’s third-largest air passenger market by 2024.
To meet the growing demand for air travel, the government is endeavoring to increase the number of airports. The anticipated increase in air traffic in India is expected to necessitate an increase in aircraft usage, which is likely to generate high demand for expanded MRO services.
MRO industry in India is at a nascent stage and has tremendous growth opportunities. As of 2020, the country had four major aerospace & defense MRO facilities in Kochi, Nagpur, Hyderabad, and Tamil Nadu.
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Our clientele includes a mix of aerospace and defense mro market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the India aerospace and defense mro market , including forecasts for subscribers. This country databook contains high-level insights into India aerospace and defense mro market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India aerospace and defense mro market size, by product, 2018-2030 (US$M)
India Aerospace And Defense MRO Market Outlook Share, 2021 & 2030 (US$M)
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