NEW DELHI, Nov 26 (Reuters) - French aerospace group

Safran said on Wednesday it expects annual revenue from

India, the world's fastest growing aviation market, to triple to

more than 3 billion euros ($3.48 billion) by 2030.

Half of that revenue will be generated by facilities within

the country, Safran CEO Olivier Andries said in a statement, as

the company inaugurated a maintenance, repair, overhaul (MRO)

shop for LEAP engines in the southern Indian city of Hyderabad.

The company invested 200 million euros in the facility,

which is expected to be operational next year.

Safran, which co-produces LEAP engines with GE Aerospace

through their CFM International venture, reported 27.32

billion euros in revenue in 2024.

The LEAP-1A competes with Pratt & Whitney to power the

Airbus A320neo, while the LEAP-1B is the sole engine on the

Boeing 737 MAX.

Addressing the inauguration, India's Prime Minister Narendra

Modi said he had met with the Safran board. He asked the

company to explore setting up aircraft engine and component

design facilities in the country, amid a broader push by his

government to make India an aviation hub.

Indian airlines have placed orders for more than 1,500 new

aircraft, which will boost the need for maintenance and repair

work. However, 85% of that need is met by facilities outside the

country presently, increasing expenses and turnaround time, Modi

said.

($1 = 0.8632 euros)