Magellan Aerospace Corporation ("Magellan") has announced the signing of a Memorandum of
Understanding (MOU) with Aequs Private Limited ("Aequs") to explore the creation of a joint engine
Maintenance, Repair, and Overhaul (MRO) business within the Aequs Special Economic Zone in
Belagavi, Karnataka, India.
The Indian aerospace sector has experienced significant growth over the past decade, fueled by
government initiatives such as Make in India and the UDAN Scheme, a burgeoning private sector,
and a rise in air traffic. This surge in air travel has positioned India as one of the world's fastest-
growing aviation markets.
In response to this growth, the MRO sector is poised for substantial development. This MOU outlines
a collaborative effort between Magellan and Aequs to assess the market for engine MRO services for
both commercial and military aircraft. The goal is to create a comprehensive business plan that will
expand their existing partnership into the MRO sector through this new venture.
In 2008, Aequs and Magellan launched Aerospace Processing India (API), a joint venture that became
the first Airbus and Boeing approved plant in India, offering OEMs aerospace surface treatments
previously unavailable in the country. This successful venture has thrived over the past 15+ years,
processing more than 1.5 million parts annually, showcasing the robust and effective partnership
between Aequs and Magellan.
Aravind Melligeri, Chairman and CEO of Aequs, commented, “Our 15-year partnership with Magellan
Aerospace has been instrumental in building a leading aerospace ecosystem in India at the Aequs
SEZ. It is only natural that we now explore further opportunities to serve the rapidly expanding
aviation industry in India. This new facility will address existing capacity constraints by offering
engine stripping, rebuilding, and testing services. The joint venture will leverage the integrated
Aerospace manufacturing ecosystem at Aequs SEZ and Magellan’s global expertise to provide top-
notch engine MRO services to both domestic and international customers.”
Phillip Underwood, President and CEO of Magellan Aerospace, stated, “In light of the rapid growth in
aerospace and aviation, this proposed engine MRO venture aims to develop essential infrastructure,
cost efficiencies, and strategic initiatives to unlock the sector’s potential. Magellan is dedicated to
enhancing India’s capabilities in the aircraft engine MRO sector and supporting the industry’s
expansion in the country. We are committed to delivering the cost-effective, high-quality solutions
our MRO customers expect.”
