Italian aerospace manufacturer Avio is expanding its presence in the lucrative engine repair market with the establishment of a new high-tech repair company for turbomachinery components.
Avio holds a 60% stake in Aviofix, which is in the process of being set up, with heavy duty gas turbine specialists ATLA and TAG, accounting for the remainder.
The company, based in Cremella, northern Italy, will specialise in repairing airfoils designed and manufactured by Avio. Avio says the company will allow it to “create a centre of excellence for aeroengine component repairs in a market that is estimated to be worth approximately $3 billion and which is currently growing at 6% per annum.”
The company declines to specify how much of this market it could capture with the new venture but says: “it is a way of entering into a very attractive market for us.”