Hi Bala,
Having sent the same question above to me through a private message, I think it's better if I reply on this thread, in case anyone else wants the benefit of my 2 rupees worth of experience.
And probably the best advice that I can give you after over 30 years in aviation, is don't listen too much to others' advice !
Getting on in the aviation business is a bit like getting on in the car sales business, you will be hearing about people doing really well, shooting straight up to the top or crashing out big time. It's very hit and miss and there doesn't seem much logic to succeeding.
What you need to do is take a very close hard look at yourself and honestly appraise your own strengths and weaknesses. Resist the urge to be a dreamer and work out a plan that suits your personality, intellect and funding. It's no good thinking of being an AME if you don't have a good mechanical aptitude and likewise you'll not make it as a successful manager unless you have a strength of character to suit.
Luckily aviation has a very wide of set of professions within it, so try and match the best one to your own abilities. At least that way, you stand a chance, because by the time you have added the downside of needing plenty of luck and plenty of contacts, you have to be at the top of your game to get that job you're after.
Sorry if that doesn't answer your question about the MSc in Aviation Management directly, but it's far more pertinent about you knowing the answer yourself. It's many years since I did my MSc at Cranfield and we graduated into a time just after the first Gulf War when aviation was at a dreadful low and there were no jobs anywhere. All of us got by somehow and most have done well, but none of it was due to the MSc and that was probably the biggest lesson of all.
Best of luck with your future, it's a great industry to work in! Sort of
Regards
FF
P.S. I wouldn't worry too much about not having any aviation experience, it's more about learning a methodology of doing your individual research on what they teach you.
P.P.S. Having read all the above, don't forget not to listen to advice! Best tip of all !