Hyderabad, Nov. 26 -- union Civil Aviation Minister Rammohan Naidu today said that India's MRO (Maintenance, repair and overhaul) market is projected to rise to USD 4 billion by 2031, at an 8.9 per cent growth rate, far outpacing the global growth rate of 4.8 per cent.
"This as an unprecedented opportunity for global engine manufacturers looking to partner with India's rapidly expanding aviation ecosystem," he said.
Participating in the inauguration of Safran's LEAP engine MRO and foundation stone laying of M88 MRO at GMR Aeropark here, Rammohan said: "Spurred by rising demand, the country's commercial aircraft fleet has expanded at a rate of 7.6 per cent compounded annual growth rate which is three times the global average."This alone cr...