New Delhi The Adani Group on Tuesday said it has agreed to acquire Air Works, one of India’s premier centers for aircraft maintenance, repair and overhaul (MRO).
Adani Group entered the aviation sector in 2019 by winning bids for six airports. In 2021, the group took over the management of Mumbai and Navi Mumbai airports. As a result, the group handles over 20% of passenger traffic in India.
The Adani Group is also setting up India’s first comprehensive aircraft MRO facility in Nagpur and provides aircraft maintenance services in partnership with Indamer, an aviation service company.
The Adani Group in its annual report for 2021-22 said that the MRO sector is critical to the Indian and global aerospace and defense industry.
“The Indian MRO industry is expected to grow from $1.7 billion in 2021 to $4 billion by 2031 at a compound annual growth rate (CAGR) of 8.9% against an expected global CAGR of 5.6%. The company continues to build a one-stop solution for all aircraft related services in India and South Asia.”
“Given India’s growth trajectory and the government’s focus on networking the nation through its vast net of air connectivity, it is imperative that the primary growth of India’s airline and airport sector lies ahead of it. Hence, the maintenance, repair and overhaul sectors has an important role in both the defense and civil aerospace sectors.”
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