Air Transport USM Market - By Product (Engine, Component, Airframe), By Provider (OEM, Aftermarket), By Aircraft (Narrowbody Jet, Widebody Jet, Turboprop, Regional Jet) & Forecast, 2024 - 2032
Published Date: February - 2025 | Publisher: MRA | No of Pages: 240 | Industry: Aerospace | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationAir Transport USM Market - By Product (Engine, Component, Airframe), By Provider (OEM, Aftermarket), By Aircraft (Narrowbody Jet, Widebody Jet, Turboprop, Regional Jet) & Forecast, 2024 - 2032
Air Transport USM Market - By Product (Engine, Component, Airframe), By Provider (OEM, Aftermarket), By Aircraft (Narrowbody Jet, Widebody Jet, Turboprop, Regional Jet) & Forecast, 2024 - 2032
Air Transport USM Market Size
Air Transport USM Market was valued at USD 7.9 billion in 2023 and is estimated to register a CAGR of over 4.5% between 2024 & 2032. The market is expected to witness a growing demand for air transport USMs due to the rising demand for more air transport.
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To get key market trends
For instance, in June 2023, a report released by the International Air Transport Association (IATA) stated that the overall air travel growth will continue to rise resulting in more aircraft being used. According to IATA, the total traffic in March 2023 rose 52.4% compared to March 2022. Domestic traffic witnessed 34.1 increase in comparison to March 2022 and the total March 2023 domestic traffic reached 98.9% of the March 2019 levels. This increasing demand for air travel across the globe drives the growth of market as USM provides a cost-effective alternative for airlines to quickly obtain parts, ensuring the timely maintenance of aircraft to meet the growing passenger demand.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Air Transport USM Market Size in 2023 | USD 7.9 Billion |
| Forecast Period | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR | 4.5% |
| 2032 Value Projection | USD 11.6 Billion |
| Historical Data for | 2018 - 2023 |
| No. of Pages | 200 |
| Tables, Charts & Figures | 312 |
| Segments covered | Provider, Aircraft, Product |
| Growth Drivers |
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| Pitfalls & Challenges |
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What are the growth opportunities in this market?
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Airlines are cutting costs left and right, and the used parts market is booming as a result. Used parts (called "USMs") are way cheaper than brand-new ones, saving airlines a ton of money. And when you're trying to make a profit and keep your prices competitive, that's a big deal. The airline business is super competitive, with tiny profit margins. With fuel prices and other costs going up all the time, airlines need to find ways to save money. USMs are a great way to do that. For example, a company called ST Engineering just launched a program that helps airlines find used parts for older planes. They've got a huge warehouse full of old parts, and they can fix them up and make them as good as new. This gives airlines a cheap alternative to buying new parts.
The air transport USM market is facing a major challenge due to its highly stringent regulatory compliances, potentially slowing down market growth. To meet regulatory standards, used components must be thoroughly inspected, tested, and documented. This significantly increases the time, effort, and expense of the procedure compared to new components, discouraging certain vendors from joining the market. Along with this, different countries and regulatory agencies follow their set of laws and standards for USM, which adds uncertainty and complexity to international operations. Airlines and providers need to manage a variety of rules, which increases compliance obligations, thereby hindering market growth.
Air Transport USM Market Trends
The air transport USM industry is witnessing a trend driven by significant technological advancements. Advancements in NDT techniques such as ultrasonic testing, eddy current testing & thermography enable precise and reliable evaluations of worn components, assuring structural integrity and operation. This increases trust in the use of USM while complying with severe regulatory regulations. Also, sensor-based monitoring and data analytics technologies provide more accurate predictions of component failures, thereby offering proactive maintenance methods and early intervention with used parts. This lowers downtime and improves the efficiency of the existing components.
For instance, in September 2023, Safran Landing Systems partnered with SkyTech, a developer of AI-powered predictive maintenance solutions, to use SkyTech's AI & IoT platform for landing gear maintenance. The partnership aims to optimize landing gear repair schedules, minimize costs, and increase operational efficiency by using predictive sensor data analysis. These technological advancements will drive the market growth in the coming years.
Air Transport USM Market Analysis
Learn more about the key segments shaping this market
In the world of aviation, the market for used aircraft parts is like a split personality, with two main playersthe original equipment manufacturers (OEMs) and the aftermarket. Right now, OEMs are the rock stars of this market, holding onto a massive chunk of over 60%. OEMs have earned their street cred for building amazing planes and keeping them flying safely. Airlines love them for their used parts because they know these companies know their stuff inside and out. OEMs use their fancy brand names and reputations to guarantee the quality and safety of their used parts, which makes airlines feel extra secure. These guys don't mess around with their parts. They make sure they're just as good as new, meeting all the same strict rules and regulations. This attention to detail gives airlines and the folks who keep an eye on aviation a warm and fuzzy feeling about OEM-provided used parts. They know they can count on them for safety and reliability.
Learn more about the key segments shaping this market
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When it comes to aircraft, the market has different categories like engines, parts, the plane's body, and other things. Right now, the engines are a big part of the market, taking up about 44%. Plane engines are the most important and expensive parts of a plane. This makes them a great opportunity to save money by using used but still good engines. Buying brand-new engines can be super pricey, so airlines often choose to get Used, Serviceable Engines (USEs) instead. Companies that sell used and good engine parts can help airlines get the parts they need quickly. This means the planes can be fixed right away and the airlines can keep flying. These companies put a lot of effort into getting engines so they can have a lot of options for planes that fly short or medium distances. For example, in July 2023, a company called AerFin that sells used planes and engines got 11 CFM56 engines and nine V2500 engines. They have a lot of these engines, including CFM56-5B/5C/7B, CF34-8, CF6, RB211, and V2500. This shows that the company is serious about helping its customers around the world by giving them high-quality used and good parts.
Looking for region specific data?
North America is the undisputed leader in the global aviation market. It's like the big cheese of air transport. In 2023, North America held a whopping 38% of the market. So, what's driving this dominance? Well, two thingsa big fleet of aging planes and a laser focus on keeping costs down. You see, North America has a lot of old airplanes, and that means a huge demand for ways to keep them flying without breaking the bank. For example, the U.S. Air Force recently decided to retire a whole bunch of their old planes to save money. And that money? They're gonna invest it in making even better planes. But it's not just the military. Airlines in North America are also fighting tooth and nail to stay profitable. And USM solutions—that's overhaul, repair, and modification—offer a way to save big bucks compared to buying new parts. It's like, why spend a fortune on a new engine when you can just fix the one you have? Plus, North America is home to some of the biggest names in aviation. Boeing, Airbus, Bombardier—they're all here. And they're working alongside USM companies like GA Telesis and AerSale to make sure the market keeps growing and innovating. It's a win-win for everyone!
Air Transport USM Market Share
AAR Corp. and Boeing Company hold a significant market share of over 15% in the market. AAR Corp. leverages its global sourcing expertise to obtain high-quality, cost-effective used serviceable material from a varied network of vendors globally. The company uses effective distribution networks to ensure that USM items are delivered to airline consumers on schedule.
Boeing forms strategic partnerships and alliances with USM suppliers, aftermarket service providers, and MRO (Maintenance, Repair, and Overhaul) companies to enhance its USM offerings. These collaborations enable Boeing to broaden its product portfolio, improve supply chain efficiency, and better serve customers' needs.
Air Transport USM Market Companies
Major players operating in the air transport USM industry are
- A J Walter Aviation Limited
- AAR Corp.
- AerSale Inc.
- AJ Walter Aviation Limited
- Boeing Company
- Delta TechOps
- GA Telesis, LLC
- General Electric
- HEICO Corporation
- Liebherr Group
- Satair
Air Transport USM Industry News
- In November 2023, GA Telesis Engine Services' U.S. SPAH Facility received the FAA Part 145 Air Agency Certificate. With this significant achievement, the joint venture will supply the airline sector with quick-turnaround jet engine repair and play an important role in improving performance reliability.
- In October 2023, Airbus and Satair announced the SmartParts platform for a secure & transparent used aircraft parts marketplace. The platform is a digital marketplace for buying and selling certified used aircraft parts. The platform also uses blockchain technology to provide safe and transparent transactions, promoting confidence & traceability in the USM market.
The air transport USM market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Billion) from 2018 to 2032, for the following segments
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Market, By Provider
- OEM
- Aftermarket
Market, By Aircraft
- Narrowbody jet
- Widebody jet
- Turboprop
- Regional jet
Market, By Product
- Engine
- Component
- Airframe
- Others
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Russia
- Nordics
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- ANZ
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- MEA
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
Table of Content
Report Content
Chapter 1 Methodology & Scope
1.1 Market scope & definitions
1.2 Base estimates & calculations
1.3 Forecast calculations
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Industry 3600 synopsis, 2018 - 2032
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.2 Supplier Landscape
3.2.1 Component suppliers
3.2.2 Technology providers
3.2.3 Service providers
3.2.4 Distributors
3.2.5 End users
3.3 Profit margin analysis
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Key news & initiatives
3.7 Regulatory landscape
3.8 Impact forces
3.8.1 Growth drivers
3.8.1.1 Rising demand for air transport
3.8.1.2 Growing focus of airlines on economic growth and cost efficiency
3.8.1.3 Rising aircraft fleet age and retirements
3.8.1.4 Stringent regulations enacted by governments related to dumping of aircraft waste
3.8.2 Industry pitfalls & challenges
3.8.2.1 Stringent regulatory compliance
3.8.2.2 Quality and reliability concerns
3.9 Growth potential analysis
3.10 Porter’s analysis
3.10.1 Supplier power
3.10.2 Buyer power
3.10.3 Threat of new entrants
3.10.4 Threat of substitutes
3.10.5 Industry rivalry
3.11 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Provider, 2018 - 2032 ($Bn)
5.1 Key trends
5.2 OEM
5.3 Aftermarket
Chapter 6 Market Estimates & Forecast, By Aircraft, 2018 – 2032 ($Bn)
6.1 Key trends
6.2 Narrowbody jet
6.3 Widebody jet
6.4 Turboprop
6.5 Regional jet
Chapter 7 Market Estimates & Forecast, By Product, 2018 - 2032 ($Bn)
7.1 Key trends
7.2 Engine
7.3 Component
7.4 Airframe
7.5 Others
Chapter 8 Market Estimates & Forecast, By Region, 2018 - 2032 ($Bn)
8.1 Key trends
8.2 North America
8.2.1 U.S.
8.2.2 Canada
8.3 Europe
8.3.1 UK
8.3.2 Germany
8.3.3 France
8.3.4 Italy
8.3.5 Spain
8.3.6 Russia
8.3.7 Nordics
8.3.8 Rest of Europe
8.4 Asia Pacific
8.4.1 China
8.4.2 India
8.4.3 Japan
8.4.4 South Korea
8.4.5 ANZ
8.4.6 Southeast Asia
8.4.7 Rest of Asia Pacific
8.5 Latin America
8.5.1 Brazil
8.5.2 Mexico
8.5.3 Argentina
8.5.4 Rest of Latin America
8.6 MEA
8.6.1 South Africa
8.6.2 Saudi Arabia
8.6.3 UAE
8.6.4 Rest of MEA
Chapter 9 Company Profiles
9.1 A J Walter Aviation Limited
9.2 AAR Corp
9.3 AerSale Inc.
9.4 AFI KLM & E&M
9.5 AirLiance Materials, LLC
9.6 Boeing Company
9.7 Delta Material Services
9.8 GA Telesis, LLC
9.9 General Electric
9.10 HEICO Corporation
9.11 Honeywell International, Inc.
9.12 Jet Parts Engineering
9.13 Liebherr Group
9.14 Lufthansa Technik (LHT)
9.15 MTU AERO ENGINES AG
9.16 Pratt & Whitney
9.17 Precision Aircraft Solutions
9.18 Satair
9.19 SDV Aerospace
9.20 TES Aviation Group
- A J Walter Aviation Limited
- AAR Corp.
- AerSale Inc.
- AJ Walter Aviation Limited
- Boeing Company
- Delta TechOps
- GA Telesis, LLC
- General Electric
- HEICO Corporation
- Liebherr Group
- Satair
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