I was going to replace front indicators yesterday. I don't think you need to remove front fairing, but it's a damn sight easier to work on, if you do.
I have some mini-ish indicators from Hein-Gericke and was going to change, but after fiddling and taking them off, it leaves a rather large hole where the rubber boot (back of indicator) comes out.
The ones I had weren't going to fit without a lot of pi**ing around so I put the originals back!
I'm technically minded, and can usually sort a problem, but that seemed to much hassle just to change to smallers for the sake of it!!
(Least they can still see me turning
)