The domestic industry for maintenance, repair and overhaul of aircraft is seeing “very fast growth” and successful implementation of national aviation policy can push its revenues up to $975 million, say experts. The maintenance, repair and overhaul (MRO) space provides significant growth opportunities, more so because there are not many such facilities in India. With expected increase in fleet size of Indian carriers to 1,740 planes in the next 20 years, the domestic MRO market is projected to be worth USD 5.2 billion by 2026. Under NCAP (National Civil Aviation Policy), the government has provided infrastructure status to the MRO industry, apart from various incentives.Among others, tools and tool kits used by the MRO industry have been exempted from the Customs duty while the duty-free storage period for aircraft spares by MRO entities has been extended to three years.

(Financial Express)