air transport used serviceable material Market

The global air transport used serviceable material market accounted for US$ 4,980.2 in 2018 and is expected to grow at a CAGR of 5.9% over the forecast period 2019-2027, to account for US$ 8,307.9 Mn by 2027.

The operational performance of the global commercial aviation sector endures to soar in modern era. The global air transport used serviceable material market is led by North America region owing to the presence of significant count of aircraft manufacturers, component manufacturers, MRO providers, and specialty component suppliers.

The sluggish rate of aircraft retirement is continuing over the years and is also anticipated to continue over the next couple of years. The aircraft users, aircraft manufacturers, and MRO service providers are increasingly stressing towards the procurement of used service materials instead of repair and replacement of several parts of an airliner. The used serviceable material poses a cost-effective process and ensures quick replacement of faulty components with refurbished components from teardown aircraft or engines. Refurbishment of older yet serviceable parts by the MRO providers, component providers, as well as aircraft manufacturers, have stimulated the demand for USM among the aircraft end-users, which has resulted in growth in air transport used serviceable material market.

The North American region is the highest revenue contributor in the air transport used serviceable material market. The presence of robust commercial aircraft manufacturing industry in the US and Canada; and the presence of MRO service providers and aircraft engine manufacturers in Mexico is driving the growth of the air transport used serviceable material market. The air transport used serviceable material market in the APAC region is expected to grow at the fastest CAGR during the forecast period. The growth is attributed to the increased demand for commercial aircraft MRO activities by the APAC countries. The countries in the APAC region are noticing a constant rise in number of aged aircraft and procurement of new aircraft fleet. Increase in number of older aircraft is creating a huge demand for USM with an objective to enhance the technologies of the long existing aircraft with technologically refurbished parts and components. This factor is catalyzing the air transport used serviceable material market.

The air transport used serviceable material market is analyzed based on various parameters, including product type, aircraft type, providers, and geography. The product type segment includes engine, components, and airframe. Based on different aircraft fleet in use, the aircraft type segment is categorized as narrowbody aircraft, widebody aircraft, business jets, and regional jets. The providers' segment in air transport used serviceable material market is bifurcated into OEMs and non-OEMs. Geographically, the air transport used serviceable material market is analyzed on the basis of five strategic regions, namely; North America, Europe, Asia Pacific, Middle East and Africa, and South America. Further, these regions have been analyzed by different countries to gather granular and specific market trends.

The key air transport used serviceable material market players include; A J Walter Aviation Limited, AAR Corp, AFI KLM & E&M, Delta Material Services, GA Telesis, LLC, General Electric, Liebherr Group, Lufthansa Technik, Pratt & Whitney, and Honeywell International Inc., among others. Several other companies are operating in the market, and are extensively supporting the market growth year-over-year.

The overall global air transport used serviceable material market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the global air transport used serviceable material market. It also provides an overview and forecast for the air transport used serviceable material market based on all the segmentation provided for the global region. Also, primary interviews were conducted with industry participants and commentators to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the air transport used serviceable material market.