MRO market size in India 2020-2032, by category
The maintenance, repair, and overhaul (MRO) market in India was estimated to be worth around 1.4 billion U.S. dollars in 2023. Engines had the highest MRO market size of around 600 million U.S dollars and was expected to increase to over 2.5 billion dollars in 2033. The total MRO market size was expected to reach 4.5 billion U.S dollars in 2033. The reason for this spike was the increased fleet size in the country. In order to boost and support this sector, the government reduced the goods and service tax from 18 percent to five percent, since March 2020.