Asserting that India is on the way to be a global aviation hub, Civil Aviation Minister K Rammohan Naidu has said that India's aircraft maintenance, repair and overhaul (MRO) market is expected to be worth $4 billion by 2031 at a growth rate of 8.9 per cent, providing unprecedented opportunities. 

The minister said the country will become a preferred destination for aircraft maintenance activities. He also said the Safran Aircraft Engine Services India (SAESI) facility in Hyderabad will be operational in 2026 and will be a major boost for the country's indigenous capabilities in the fast-growing aviation sector. 

He also noted that carrying out aircraft MRO activities within the country will help save up to $15 billion in foreign exchange in the coming years. He added that the cost savings of the airlines will be passed on to the passengers. He further said India is one of the world's fastest growing civil aviation markets and domestic carriers have over 1,500 planes on order.