MUMBAI INDIA. AUGUST 11. The new Aviation policy enunciated by the Government of India aims at translating the humungous opportunities in the Indian Aviation market into realities. The new policy, by a combination of measures like effecting improvement in infrastructure, improving regional connectivity and relaxing the flying norms for new entrants, attempts at capitalising on the growth prospects of Indian Aviation market. While the growth of aviation market impacts every sphere of the trade and economic growth of the country, there is a sector which commands attention of the entrepreneurs owing to the sheer magnitude of the opportunities. It is the Maintenance, Repair and Overhaul (MRO) sector. According to Boeing, the global commercial aviation service sector, which also includes MRO, is anticipated to grow phenomenally to $ 8.5 trillion in the next 20 years.
The Civil Aviation in India is poised for big growth on a long term basis. In its latest analysis, Boeing estimates that India would require 2100 new planes in the next 20 years valued at $290 billion.
While the Civil Aviation in India is on a growth trajectory, the defence aviation is no less growing. There has been a steady increase in India’s defence requirements over the years which has necessitated corresponding growth in the defence Aviation MRO.
The Government of India is addressing these growth opportunities from multiple dimensions. The Defence Aviation MRO which has been captive with Air Force, Army and Navy, has been now thrown open to the private players. The Government of India is planning a better implementation of its offset policies in the defence sector by encouraging suppliers of defence aviation spare parts to start indigenous production in India, thus making ‘Make in India’ programme of the Government of India a huge success. Another major facet of the Government of India’s initiative is to foster local manufacture of the spare parts both in the civil and defence sectors through the Make in India Policy.
Taking a short term perspective, the combined MRO opportunities of the Defence and Civil Aviation market in India is expected to touch USD 2.5 billion by 2025. This is a bonanza of opportunities for the prospective players in the field.
The STAT Trade Times, popularly known as STAT Times, is organising a two day Summit ‘Aerospace & Defence-MRO South Asia Summit from 18-19 January, 2018 at Hotel Taj Mahal in New Delhi, the capital of India. The Summit would attract leading top ranking players both from the Defence as well as the Civil sectors of the global aviation market in general and Indian market in particular.
The theme of the summit is ‘Make in India-MRO makes it happen’ reflecting on the main programme of the Government of India to foster aerospace and defence manufacturing activities in India.
The objective of the two day summit is to highlight the opportunities in the Indian Aviation MRO market and provide a platform for the established and aspiring entrepreneurs to network with Aviation MRO leaders across the globe with a view to translating the opportunities into realities.
“There is unbounded potential in Aviation MRO market in India, both civil and defence. Presently much of the Indian Civil Aviation MRO work is carried out outside India. With the Indian Aviation poised for a big growth, the opening of Defence Aviation MRO to private players and the encouragement being given to manufacturing activities in India by the Government’s ‘Make in India’ programme, it is high time that we tap this potential”, said R.K.Patra, Group Editor-in-Chief of STAT Media Group.
