Magellan partners with Aequs on potential engine MRO business in India

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Magellan partners with Aequs on potential engine MRO business in India

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Brandon Williamson Vice President Market Leader of Infrastructure/Aviation Group | AviationPros

By Sky Industry News

Jul 25, 2024

Magellan Aerospace Corporation has announced the signing of a Memorandum of Understanding (MOU) with Aequs Private Limited to explore the development of a business plan for a jointly-owned engine Maintenance, Repair, and Overhaul (MRO) business in the Aequs Special Economic Zone, located in Belagavi, Karnataka, India.

India’s aerospace sector has experienced growth over the past decade, driven by government initiatives including Make in India and UDAN Scheme, growth in the private sector, and increasing air traffic. Air travel demand in India has surged, making it one of the fastest-growing aviation markets globally.

Given the substantial growth of aerospace and aviation in India, the MRO sector is poised for significant development. Under the terms of this MOU, Magellan and Aequs will work together to evaluate the market for business, commercial, and military aircraft engine MRO services. They aim to develop a comprehensive business plan that expands their existing partnership into this new project.

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In 2008, Aequs and Magellan established Aerospace Processing India (API), a joint venture that was the first Airbus and Boeing-approved plant in India. It provided OEMs with aerospace surface treatments not readily available domestically at that time. This successful venture has grown over the past 15 years to be India's largest facility processing more than 1.5 million parts annually. This demonstrates the solid foundation of the Aequs/Magellan relationship that delivers unique, cost-effective solutions supporting a global customer base.

Commenting on this newly agreed-to MOU Aravind Melligeri, Chairman and CEO of Aequs said, “We have had a successful relationship with Magellan Aerospace for the past 15 years and partnered to build the most innovative and effective Aerospace ecosystem in India today at the Aequs SEZ. It is only logical we explore further opportunities to service the fast-growing business, civil and military aviation industry in India. This facility is expected to have the ability to strip, rebuild, and test engines to help alleviate existing capacity constraints. This JV will leverage the vertically integrated Aerospace manufacturing ecosystem at Aequs SEZ and coupled with Magellan’s global presence and expertise across product lines will be best suited to provide engine MRO services to domestic and international business, commercial and military aircraft users.”

Phillip Underwood, President and CEO of Magellan Aerospace said: “With soaring aerospace and aviation growth this potential engine MRO venture for Indian market will focus on infrastructure development cost advantages strategic initiatives that are essential to realizing sector’s potential Magellan is committed contributing India's expertise aircraft engine MRO sector helping grow industry country ready meet growing needs our customers cost-effective quality solutions they expect”