MUMBAI, India, July 31, 2024 /PRNewswire/ -- Epsilon Aerospace Pvt. Ltd., a leading player in the aircraft cabin interior and refurbishment sector has announced a strategic partnership with 4Repair, a leading European Aviation Safety Agency (EASA) Part 145 certified organization, reinforcing its commitment to strengthen maintenance, repair and operation (MRO) services in India's aerospace infrastructure ecosystem by bringing advanced capabilities and fostering local expertise. As part of the strategic collaboration, Epsilon Aerospace signed an MoU with 4Repair for establishing a State-of-the Art Maintenance & Repair facility for Aircraft composite parts in India.
The facility aims to provide support to aircraft operators by offering repair services locally for complex composite and structural parts, such as Control Surfaces, Flaps, Radomes etc., contributing to India's Atmanirbhar Bharat vision to enhance indigenous capabilities and reduce dependency on overseas maintenance services.
India has emerged as the third-largest domestic aviation market globally. The size of India's aviation market is to grow to USD 26.08 billion by 2030, with a compound annual growth rate (CAGR) of 11.08% during the forecast period from 2024 to 2030. India also plays an important role in the military aircraft market due to its acquisition of new aircrafts and indigenous development of military aviation technologies. The Indian government's allocation of resources towards enhancing aviation infrastructure and capabilities is expected to fuel the MRO sector.
The global MRO market is related to growth in fleet size and is expected to grow at a CAGR of 5% to USD 126.6 billion by 2032 as per a recent KPMG report. While Indian MRO industry is at a nascent stage with an estimated market size of USD 1.2 billion as of 2022 which is 1 to 1.2% of the global MRO market. India has immense potential to capitalize on domestic growth in aircraft fleet and leverage its engineering capabilities to create and become a market leader in MRO industry by catering to 90% of local demand by 2047.
The collaboration signifies both companies' commitment to achieving operational excellence in India's MRO sector by creating job and skill development opportunities and contributing to economic growth and sustainability goals. The state-of-art facility will cater efficiently to the growing demand for maintenance services within India, ensuring that airlines operating in the region benefit from timely and high-quality repairs of critical aircraft components.
Naveen Chawla CEO Epsilon Aerospace, said, "The collaboration will pave the way for pioneering solutions, leveraging cutting-edge technologies and global best practices to elevate India as a preferred destination for aerospace MRO services in the Asia-Pacific region."
Stephan Verhaerdt, Director & Accountable Manager 4Repair said, "This collaboration not only strengthens our commitment to support India's aerospace industry but also reinforces our dedication to driving operational excellence and customer satisfaction on global level. We look forward to leveraging our combined strengths to deliver innovative solutions and superior customer service."
About Epsilon Aerospace Pvt. Ltd.:
Epsilon Aerospace Pvt. Ltd, a CAR 145, CAR 21 J & CAR 21 G approved organization, is a dynamic player in the aviation industry, specializing in cutting-edge solutions for aircraft interiors. With a commitment to safety, innovation, quality and excellence, Epsilon Aerospace continues to push the boundaries of aviation comfort and design. Epsilon Aerospace Pvt. Ltd. is the first company in India to manufacture aircraft seat covers and aircraft placards with DGCA CAR Part 21 Subpart G certification. Epsilon Aerospace also support the commercial airlines in India for their redeliveries with seat covers manufacturing under EASA or UK CAA Part 21 Subpart G certification.
Website: https://www.epsilon-aero.com/
LinkedIn: https://www.linkedin.com/company/epsilon-aerospace-pvt-ltd/?viewAsMember=true
Twitter: https://x.com/EpsilonAero1
About 4Repair:
4Repair is an EASA & CAA-UK Part-145 approved to perform certified repairs of structural (composite & metal) aircraft components at our facility, located at Aviolanda Aerospace in The Netherlands or On-Wing at customer location. 4Repair also provides structural support during line/base maintenance.
Website: https://www.4repair.nl
Linkedln: https://nl.linkedin.com/company/4repair
Photo: https://mma.prnewswire.com/media/2472556/Epsilon_Aerospace.jpg
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