The India commercial fixed wing aircraft landing gear MRO market is expected to grow from US$ to US$ 139.22 million by 2028; it is estimated to grow at a CAGR of 7.7% from 2022 to 2028.
The Government of India has been collaborating with the Airport Authority of India (AAI) to enhance the country's aviation industry by launching various policies and initiatives to attract international aviation vendors to the Indian market. Under the Make in India program, the government has already introduced several policies with the aim of making India a leading aerospace manufacturing hub, which is expected to drive growth in the commercial fixed wing aircraft landing gear MRO market. In February 2022, the AAI announced plans to promote MRO activities for aircraft and aviation equipment at eight airports in India, including Begumpet (Hyderabad), Bhopal, Chandigarh, Chennai, Delhi, Juhu (Mumbai), Kolkata, and Tirupati. Through this initiative, the AAI aims to create a business-friendly environment by offering zero loyalty charges and reduced land rental fees.
The Ministry of Civil Aviation of India also announced its vision in 2019 to make India a global aviation MRO hub by 2040, with a goal of satisfying nearly 90% of domestic carrier demands within the country's borders. This vision aims to generate at least 20% of India's MRO revenues from internationally registered aircraft fleets and achieve 90% of retired aircraft model re-deliveries within the country. These initiatives are expected to create significant opportunities for the expansion of the India commercial fixed wing aircraft landing gear MRO market during the forecast period.
In addition, the Indian MRO sector is still in its nascent stage, with numerous smaller companies providing maintenance services to airlines across the country. Apart from established market players like Tentacle Aerologistix Pvt Ltd, AI Engineering services Ltd, AAR Indamer Technics Pvt Ltd, Interglobe Aviation Ltd, Haveus Aerotech India Pvt Ltd, Air Works India (Engineering) Pvt Ltd, Horizon Aerospace Pvt Ltd, and Aerotek Sika Aviation Engineering Pvt Ltd, there are other vendors operating in the India commercial fixed wing aircraft landing gear MRO market. Although these vendors may not currently offer services in the landing gear MRO segment, they are expected to expand their expertise to this division of the Indian aviation MRO sector as the Indian aviation market grows globally.
Furthermore, the increasing interest of foreign companies to invest in the Indian MRO sector to cater to the country's growing aircraft fleet is a significant trend that is attracting more Indian aviation MRO vendors to collaborate and establish their presence in the India commercial fixed wing aircraft landing gear MRO market.
Although companies such as GMR Aero Technic (GAT), Max Pro Services Pvt Ltd, and Deccan Charter Pvt Ltd have a significant presence in the aviation MRO sector in India, they do not currently offer landing gear MRO services for commercial aircraft customers. However, with the anticipated growth of the Indian commercial aircraft fleet (including both narrow and wide body aircraft) in the coming years, these domestic MRO companies are expected to expand into the commercial fixed wing landing gear MRO segment. This expansion is expected to contribute to the overall growth of the India commercial fixed wing aircraft landing gear MRO market.
Leading players in the India commercial fixed wing aircraft landing gear MRO market include Tentacle Aerologistix Pvt Ltd, AI Engineering Services Ltd, AAR Indamer Technics Pvt Ltd, Interglobe Aviation Ltd, Haveus Aerotech India Pvt Ltd, Air Works India (Engineering) Pvt Ltd, Horizon Aerospace Pvt Ltd, and Aerotek Sika Aviation Engineering Pvt Ltd. These companies offer a diverse range of aircraft MRO services, including landing gear MRO, to various airline customers across the country. They focus on enhancing their products and services by incorporating advanced features and technologies. For instance, in 2022, HaveUs Aerotech India Pvt Ltd launched India's first ULD containers assembly cum MRO support center in Gurugram, while in 2020, Indigo and BIAL collaborated to establish a maintenance facility at Kempegowda International Airport. Such developments by these market players are expected to drive the growth of the India commercial fixed wing aircraft landing gear MRO market.
The India commercial fixed wing aircraft landing gear MRO market is segmented into gear type and activity. By gear type, the India commercial fixed wing aircraft landing gear MRO market is segmented into nose gear and main gear. By activity, the India commercial fixed wing aircraft landing gear MRO market is bifurcated into single overhaul and non-destructive testing.
Impact of COVID-19 Pandemic on India Commercial Fixed Wing Aircraft Landing Gear MRO Market
The COVID-19 pandemic had a severe impact on the aviation industry, leading to temporary lockdowns that resulted in the closure of several component manufacturers, MRO service providers, and aircraft hangars across India. This, in turn, caused supply chain disruptions, both domestically and globally, and adversely affected the businesses of India's commercial fixed wing aircraft landing gear MRO market players.
However, in March 2022, the Civil Aviation Ministry of India announced the resumption of regular international flights starting from March 27, 2022. As restrictions in the aviation sector began to ease, there has been a growing awareness of the importance of ensuring the reliability of aircraft components to ensure fleet efficiency. This sudden demand for MRO operations for grounded aircraft fleets, which missed scheduled maintenance operations during the past two years, has helped India's commercial fixed wing aircraft landing gear MRO market players to recover some of the losses amounting to US$ 2.3 billion incurred during the COVID-19 pandemic. Additionally, the increased demand for commercial aircraft MRO services in India has created new opportunities for these players to further grow and expand their businesses.