India Commercial Fixed Wing Aircraft Landing Gear MRO Market to exceed US$ to US$ 139.22 million by 2028

    Published on 31-Oct-2022
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    Report : India Commercial Fixed Wing Aircraft Landing Gear MRO Market Forecast to 2028 - COVID-19 Impact and Country Analysis By Gear Type (Nose Gear and Main Gear) and Activity (Single Overhaul and Non-Destructive Testing)

    According to a new market study titled "India Commercial Fixed Wing Aircraft Landing Gear MRO Market Forecast to 2028 - COVID-19 Impact and Country Analysis - by Gear Type and Activity," the market is expected to grow from US$ 89.04 million in 2022 to US$ 139.22 million by 2028; it is estimated to grow at a CAGR of 7.7% from 2022 to 2028. The report provides trends prevailing in the India commercial fixed wing aircraft landing gear MRO market along with drivers and restraints.

    Aircraft MRO industry in India is rapidly growing and is expected to witness remarkable growth across the global aircraft MRO market. The current aircraft orders for future deliveries and increasing number of commercial aircraft fleet across the country are expected to drive the demand for MRO services in the country. Moreover, India is expected to witness tremendous growth opportunities for aviation MRO operations during the forecast period due to the growing commercial aircraft fleet expansion across the country.

    According to Centre for Asia Pacific Aviation (CAPA) in 2021, the India commercial fixed wing aircraft fleet was estimated to be around 713 aircraft, which is expected to reach an estimated volume of 1,454 aircraft by the end of 2032. Several airlines across the country have been placing orders for newer and next generation narrow body and wide body aircrafts to include them into their respective fleet and cater to the growing air travel demand in the country. In response to the growing demand, airlines operating across the country have placed an order for more than 1,000 fixed wing commercial aircraft, which is expected to be delivered in the near future. This will boost the commercial fixed wing aircraft fleet size across the country and provide support in catering to the booming air traffic demands. Further, the growth in air travel operations will increase the demand for aircraft maintenance and repairing of many components.

    In addition, India has become one of the top 5 commercial aircraft buyers across the world and is expected to become third-largest aviation sector by the end of 2024, which is another major factor likely to generate new opportunities for the India commercial fixed wing aircraft landing gear MRO market players during the forecast period. This is mainly due to the government initiatives such as 'Make in India' for making the country an aviation hub for manufacturing and assembly of aircraft. In addition, the Indian cargo airline Blue Dart Aviation has been operating with six B757-200 precision converted freighter as cargo aircraft that are more than 24 to nearly 30 years old. These aircraft are further contributing to the growth of India commercial fixed wing aircraft landing gear MRO market as they require periodic maintenance of many components before flight operations.

    AIESL, Air Works India (Engineering) Pvt Ltd, AAR Indamer Technics Pvt Ltd, Horizon Aerospace Pvt Ltd, and IndiGo are among the key India commercial fixed wing aircraft landing gear MRO market players profiled in the research study. The mentioned market players adopt organic growth strategies, such as product launches and expansions, to sustain their position in the India commercial fixed wing aircraft landing gear MRO market.

    Exhibit: India Commercial Fixed Wing Aircraft Landing Gear MRO Market Revenue and Forecast to 2028 (US$ Million) The India commercial fixed wing aircraft landing gear MRO market size is segmented into gear type and activity. Based on gear type, the India commercial fixed wing aircraft landing gear MRO market is categorized into nose gear and main gear. Based on activity, the India commercial fixed wing aircraft landing gear MRO market size is bifurcated into single overhaul and non-destructive testing. The positioning of landing gears in an aircraft is based on different parameters such as weight and load bearing capacities and size of the aircraft for its operations. For instance, majority of the load of an aircraft during its operations is handled by the main landing gears, whereas the nose landing gear is subjected to handle only 15-50% of the aircraft weight during the operations. Based on the frequency of aircraft operations, the need for periodic maintenance and checks are conducted on interval and flight operation basis.

    The rising demand for air travel across India is another factor supporting the airline operation growth and pushing them to procure new aircraft in large quantities to cater to the burgeoning demand for air travel. This is due to rising investments by customers for air travel that generate more demand for new aircraft deployments across the country. Additionally, India is the fastest-growing market for aircraft MRO in Asia Pacific, as well as in the global context. This is due to the rapid growth in the country's aviation sector to cater to the growing demand for air travel that is ultimately leading to procurement of newer generation fixed wing commercial aircraft models.

    Most of the airlines across the country that operate with international flights also prefer to take MRO services from foreign vendors such as Lufthansa Technik, MRO Global, and Safran. Aviation MRO vendors across the country are also taking sheer interest in collaborating or acquiring existing smaller players for having an advantage of dominance in the India commercial fixed wing aircraft landing gear MRO market. For instance, in October 2022, Adani Defence and Aerospace announced that it has signed an agreement to acquire Air Works for US$ 48 million. Such developments are accelerating the India commercial fixed wing aircraft landing gear MRO market growth.

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