Honeywell eyes ‘significant investments’ opportunities in civil aviation sector

There is a positive outlook on the domestic MRO sector, which is projected to become a $4-billion market by 2030, says Guruprasad Mysore of Honeywell India
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SIDDHANT THAKUR

The massive growth of the civil aviation sector in the country has led technology major Honeywell Aerospace to explore “significant investments” in the country.

Speaking to businessline, Guruprasad Mysore, Business Leader – Airlines, India Region, Honeywell India, said the civil aviation sector has been steadily growing, and “it is today the third-largest aviation market in the world.”

“This growth momentum also opens new opportunities in local manufacturing, fleet and airport expansions, public-private partnerships, investments and R&D in next-generation aviation technologies,” he said.

He pointed out that more than 3,000 engineers across Honeywell’s ‘Centers of Excellence’ develop cutting-edge aviation technologies that are integral to the global aviation value chain.

According to Mysore, there is a positive outlook on the domestic maintenance, repair and overhaul (MRO) sector, which is projected to become a $4-billion market by 2030.

“The industry has already deployed efforts to add over 1,000 aircraft by 2027 to meet the rising demand,” he said.

“At a macro level, the growth trajectory seems positive, with companies already exploring investments to set up MRO hubs in India.”

Such strategic moves, Mysore said, will lead to optimised operational costs, reduce turnaround times, create more employment opportunities, and “eventually contribute to building self-sustenance in the long run.”

Besides, he cited that at a global level, Honeywell Aerospace expects organic sales growth in the mid-single-digit to high single-digit range for 2025.

“India is emerging as an important market for Honeywell, and we plan to explore significant investments in the country.”

“We view India as a key area for long-term expansion, as we aim to make considerable investments in MRO capabilities here and intend to increase sourcing from India by nearly four times in the next few years.”

MRO facility

Industry estimates project an investment of around $150-200 million for setting up a greenfield MRO facility.

As per the industry, this type of infrastructure helps reduce turnaround times, cut costs, and extend the lifespan of avionics.

Notably, the Centre has urged the industry to enhance onshore MRO capabilities and reduce reliance on overseas repairs.

Earlier this year at an industry event, Civil Aviation Minister Rammohan Naidu called for efforts to increase MRO activities in the country.

He highlighted that in FY24, the share of Indian MRO entities was only 14 per cent and the same has to be increased to 50 per cent by 2030.

Published on August 6, 2025