Hyderabad: French aerospace group Safran announced on Wednesday its ambition to triple its annual revenue in India to $3.5 billion by 2030, as it taps into one of the world's fastest-growing aviation markets. Half of this revenue is expected to be generated from facilities within India, according to Safran CEO Olivier Andries, who revealed the group's plans to build the world's largest maintenance center for LEAP engines in the country.
According to Bangladesh Sangbad Sangstha, Andries emphasized the significance of the new site in Hyderabad, stating, "The opening of this site illustrates the importance of India for our group." He expressed pride in supporting the rapid growth of India's civil and military aviation markets and contributing to the strategic autonomy of the country.
India's Civil Aviation Minister Kinjarapu Rammohan Naidu highlighted the immense opportunities for foreign players in the world's fifth-largest economy. "Over the past 11 years, India's aviation ecosystem has made a decisive leap, doubling the number of airports, aircraft, and passengers," Naidu noted.
LEAP engines, which are used in all Boeing 737 MAX aircraft and about 60 percent of Airbus A320neo aircraft, as well as Chin's COMAC C919, are at the center of this expansion. The new Hyderabad facility, set to begin operations early next year, represents a $234 million investment and will have the capacity to maintain and repair 300 LEAP engines annually. The center covers 45,000 square meters (484,000 square feet) and will initially employ more than 250 people, with the potential to expand to 1,100 employees in the long term.
Naidu further explained the impact of this development, stating, "By 2030, up to 90 percent of the maintenance of LEAP engines for Indian airlines will be carried out in this workshop." This shift is expected to significantly reduce dependence on foreign centers, as well as lower costs and turnaround times for Indian airlines.