Indian MRO services revenue could zoom 3x in five years
(Photo Credit: AI Engineering Services)
Revenue of domestic MRO services providers is expected to triple to Rs 5,500-6,000 crore by 2028 from around Rs 1,800 crore currently, piggybacking on strong growth in domestic civil aviation, government support and ongoing MRO capex at airports, according to a study by Crisil.
The engine and component maintenance segment, where global technical companies are investing to develop local capability, should see penetration improve: Ankit Hakhu, Crisil Ratings
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The government has introduced several policies over the past year to realise its vision of making the country a global MRO hub. The upshot of these will be a 10-20% reduction in cost of MRO services: Varun Marwaha, Crisil Ratings
Macroeconomic uncertainties, timely capex completion, transfer of critical technical knowhow and developments within competing MRO markets will be monitorable, says Crisil
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