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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)
Market Report I 2022-10-31 I 83 Pages I The Insight Partners
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 in collaboration with the Airport Authority of India (AAI) has been working to boost the country's aviation economy by launching several supportive policies and initiatives to bring international aviation industry vendors in the Indian market. The Government of India has already launched several policies under the Make in India program with a goal of transforming the country into an aerospace manufacturing hub which will further boost the India commercial fixed wing aircraft landing gear MRO market growth. In February 2022, the AAI announced that it has identified eight airports in India to promote MRO activities for aircraft and aviation equipment. Through such initiatives, the AAI has enabled a business-friendly ecosystem that will allow zero loyalty charges and significantly reduce land rental charges across the eight airports [Begumpet (Hyderabad), Bhopal, Chandigarh, Chennai, Delhi, Juhu (Mumbai), Kolkata, and Tirupati]. In 2019, the Ministry of Civil Aviation of India announced its vision to make India a global aviation MRO hub by the end of 2040 by catering to nearly 90% of domestic carrier demands within the country's border. This vision aims to mandate a minimum of 20% of the Indian MRO revenues from the internationally registered aircraft fleet. This vision also aims to achieve around 90% of the re-delivery of retired aircraft models within the country. Such initiatives are likely to generate tremendous opportunities for India commercial fixed wing aircraft landing gear MRO market expansion during the forecast period and further.
Furthermore, the MRO sector is still at its growing phase in India. Several smaller companies operate in the country to provide maintenance services to various airlines across the country. Apart from the market players such as 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 that are operating in India commercial fixed wing aircraft landing gear MRO market. Although these vendors currently do not cater in the landing gear MRO segment, they are expected to establish their expertise into commercial aircraft landing gear MRO division of the Indian aviation MRO sector as the Indian aviation market grows at a notable rate globally. Moreover, the increasing interest of foreign companies to invest in the Indian MRO sector for catering the growing aircraft fleet of the country is acting as one of the major trends leading to attract more Indian aviation MRO vendors to collaborate with them and establish their presence in the India commercial fixed wing aircraft landing gear MRO market.
GMR Aero Technic (GAT), Max Pro Services Pvt Ltd, and Deccan Charter Pvt Ltd are among the vendors that have major presence in the aviation MRO segment in India; however, these companies do not have landing gear MRO segment for commercial aircraft customers. Therefore, as the Indian commercial aircraft fleet (including narrow body and wide body aircraft) is expected to grow at a remarkable rate in the years to come, existing domestic MRO companies will venture into the commercial fixed wing landing gear MRO segment, which would eventually propel the India commercial fixed wing aircraft landing gear MRO market size.
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 are among the leading players in the India commercial fixed wing aircraft landing gear MRO market. These companies are engaged in providing a wide range of aircraft MRO services, including landing gear MRO, to different airline customers across the country to provide them full support during periodic checks and maintenance, repair, and overhaul operations, thus boosting the growth of India commercial fixed wing aircraft landing gear MRO market size. These market players mainly focus on product and service enhancements by integrating advanced features and technologies into their offerings. For instance, in 2022, HaveUs Aerotech India Pvt Ltd opened India's ULD containers assembly cum MRO support center in Gurugram. Similarly, in 2020, Indigo and BIAL partnered to set-up a maintenance facility at Kempegowda International Airport. Thus, such developments from the above-mentioned players will further fuel the India commercial fixed wing aircraft landing gear MRO market growth.
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 has severally affected the aviation industry. Most of the component manufacturers, MRO service providers, and aircraft hangars were closed due to temporary lockdown across the country. This was also followed by a supply chain disruption in the Indian aviation industry along with global supply chain disruption. Such factors drastically impacted the businesses of India commercial fixed wing aircraft landing gear MRO market players.
However, in March 2022, the Civil Aviation Ministry of India announced the resuming of regular international flights from March 27, 2022. As the aviation sector restrictions started to ease down, the awareness for ensuring the aircraft fleet efficiency through rechecking the reliability of aircraft components began picking pace. This also generated sudden demand for MRO operations for grounded aircraft fleet that have already missed out several scheduled MRO operations since the past two years. Moreover, the new demand for commercial aircraft MRO in the country has been helping the India commercial fixed wing aircraft landing gear MRO market players to recover some of the portion from the US$ 2.3 billion losses caused during the COVID-19 pandemic.
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
3.4 Market Projection Assumptions
3.5 Parameters for Exponential Growth in 2022 and 2023
4. India Commercial Fixed Wing Aircraft Landing Gear MRO Market Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.2.1 Bargaining Power of Buyers
4.2.2 Bargaining Power of Suppliers
4.2.3 Threat to New Entrants
4.2.4 Threat to Substitutes
4.2.5 Competitive Rivalry
4.3 Ecosystem Analysis
5. India Commercial Fixed Wing Aircraft Landing Gear MRO Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Fleet of Commercial Aircraft
5.1.2 New Landing Gear MRO Demand from Large Wide Body Landing Gears
5.2 Key Market Restraints
5.2.1 Limited Capabilities in Fixed Wing Aircraft MRO Sector
5.3 Key Market Opportunities
5.3.1 Favorable Governmental Policies
5.4 Future Trends
5.4.1 New Vendors Expected to Venture into the Market
5.5 Impact Analysis of Drivers and Restraints
6. Commercial Fixed Wing Aircraft Landing Gear MRO Market - India Market Analysis
6.1 India Commercial Fixed Wing Aircraft Landing Gear MRO Market Overview
6.2 India Commercial Fixed Wing Aircraft Landing Gear MRO Market Forecast and Analysis
6.3 Market Positioning- Top Five Players
7. India Commercial Fixed Wing Aircraft Landing Gear MRO Market Revenue and Forecast to 2028 - Gear Type
7.1 Overview
7.2 India Commercial Fixed Wing Aircraft Landing Gear MRO Market, By Gear Type (2021 and 2028)
7.3 Nose Gear
7.3.1 Overview
7.3.2 Nose Gear: India Commercial Fixed Wing Aircraft Landing Gear MRO Market Revenue and Forecast To 2028 (US$ Million)
7.4 Main Gear
7.4.1 Overview
7.4.2 Main Gear: India Commercial Fixed Wing Aircraft Landing Gear MRO Market Revenue and Forecast To 2028 (US$ Million)
8. India Commercial Fixed Wing Aircraft Landing Gear MRO Market Revenue and Forecast to 2028 - Activity
8.1 Overview
8.2 India Commercial Fixed Wing Aircraft Landing Gear MRO Market, By Activity (2021 and 2028)
8.3 Single Overhaul
8.3.1 Overview
8.3.2 Single Overhaul: India Commercial Fixed Wing Aircraft Landing Gear MRO Market Revenue and Forecast To 2028 (US$ Million)
8.4 A and B Checks
8.4.1 Overview
8.4.2 A and B Checks: India Commercial Fixed Wing Aircraft Landing Gear MRO Market Revenue and Forecast To 2028 (US$ Million)
8.5 C and D Checks, Non-Destructive Testing
8.5.1 Overview
8.5.2 C and D Checks, Non-Destructive Testing: India Commercial Fixed Wing Aircraft Landing Gear MRO Market Revenue and Forecast To 2028 (US$ Million)
9. India Commercial Fixed Wing Aircraft Landing Gear MRO Market - COVID-19 Impact Analysis
9.1 India: Impact Assessment of COVID-19 Pandemic
10. Industry Landscape
10.1 Overview
10.2 Market Initiative
11. Company Profiles
11.1 Tentacle Aerologistix Pvt Ltd
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 AI Engineering Services Ltd
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 AAR Indamer Technics Pvt Ltd
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 InterGlobe Aviation Ltd
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 HaveUs Aerotech India Pvt Ltd
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Air Works India (Engineering) Pvt Ltd
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Horizon Aerospace Pvt Ltd
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Aerotek Sika Aviation Engineering Pvt Ltd
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Word Index
LIST OF TABLES
Table 1. India Commercial Fixed Wing Aircraft Landing Gear MRO Market, Revenue and Forecast, 2019-2028 (US$ Million)
Table 2. List of Abbreviation
LIST OF FIGURES
Figure 1. India Commercial Fixed Wing Aircraft Landing Gear MRO Market Segmentation
Figure 2. India Commercial Fixed Wing Aircraft Landing Gear MRO Market Overview
Figure 3. India Commercial Fixed Wing Aircraft Landing Gear MRO Market, By Gear Type
Figure 4. India Commercial Fixed Wing Aircraft Landing Gear MRO Market, By Activity
Figure 5. Porter's Five Forces Analysis
Figure 6. India Commercial Fixed Wing Aircraft Landing Gear MRO Market - Ecosystem Analysis
Figure 7. India Commercial Fixed Wing Aircraft Landing Gear MRO Market: Impact Analysis of Drivers and Restraints
Figure 8. India Commercial Fixed Wing Aircraft Landing Gear MRO Market, Revenue and Forecast and Analysis (US$ Million)
Figure 9. Market Positioning- Top Five Players
Figure 10. India Commercial Fixed Wing Aircraft Landing Gear MRO Market, By Gear Type (2021 and 2028)
Figure 11. Nose Gear: India Commercial Fixed Wing Aircraft Landing Gear MRO Market Revenue and Forecast to 2028 (US$ Million)
Figure 12. Main Gear: India Commercial Fixed Wing Aircraft Landing Gear MRO Market Revenue and Forecast to 2028 (US$ Million)
Figure 13. India Commercial Fixed Wing Aircraft Landing Gear MRO Market, By Activity (2021 and 2028)
Figure 14. Single Overhaul: India Commercial Fixed Wing Aircraft Landing Gear MRO Market Revenue and Forecast to 2028 (US$ Million)
Figure 15. A and B Checks: India Commercial Fixed Wing Aircraft Landing Gear MRO Market Revenue and Forecast to 2028 (US$ Million)
Figure 16. C and D Checks, Non-Destructive Testing: India Commercial Fixed Wing Aircraft Landing Gear MRO Market Revenue and Forecast to 2028 (US$ Million)
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