Air Transport Used Serviceable Material Market Key Companies and SWOT Analysis by 2031

The air transport used serviceable material market size is projected to reach US$ 4,712.64 million by 2031 from US$ 3,150.79 million in 2023. The market is expected to register a CAGR of 5.2% during 2023–2031. The changing business models and USM solutions for low-cost carriers are driving the trend in the market. The operations and business models of MRO companies are rapidly changing, which is, in turn, driven by factors such as cut-throat competition and the ever-changing global dynamics. The intensifying competition between businesses coupled with evolving airline fleets and the new entrants in the aviation industry has threatened the sustainability of the MRO companies, thereby driving the players to look for innovative business models.

Air Transport Used Serviceable Material Market Analysis

The aviation industry is continuously witnessing several significant changes in terms of manufacturing technology, MRO technology, and aircraft procurement trends. Civil airline companies, business jet owners, and regional airline companies are benefiting massively from the drop in aviation turbine fuel costs over the past few years. On the other hand, engine manufacturers are heavily emphasizing and capitalizing on the production of extended-life aircraft engines. The extended life of aircraft engines is leading to the squeezed aftermarket supply chain in the aero-engine industry. Similarly, the fall in aviation turbine fuel costs is facilitating the aircraft owners to hold their existing fleet for a longer period, which results in less teardown time for aircraft. The two factors are positively impacting on the growth of air transport using serviceable materials.

Air Transport Used Serviceable Material Market Overview

Air transport serviceable material (USM) is used on all four types of aircraft during service breakdowns of some of the major aircraft components. The USM ensures quicker time-to-installation of the product and at lesser costs. Air transport uses serviceable materials and is majorly used in the narrowbody aircrafts. The narrowbody aircraft can be as small as a single seat on either side of the aisle, and the most common variant of the narrowbody jets comprises three seats on either aisle side. Boeing 737 Airbus A318/319/320/321 are some of the popular narrowbody jet models. All the major aircraft manufacturers are engaged in the manufacturing of narrowbody aircraft, and Boeing, Airbus, Bombardier, Embraer, and Tupolev, among others, are some of the major aircraft OEMs producing narrowbody aircraft worldwide. This factor is one of the major drivers for the growing usage of USM in narrowbody aircraft globally.

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Air Transport Used Serviceable Material Market: Strategic Insights

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Air Transport Used Serviceable Material Market Drivers and Opportunities

Increasing Refurbishment of Existing Aircraft Drives Market Growth

The global airspace is experiencing huge demand for air travel in terms of commercial aircraft. This is leading the airlines and defense forces to keep their fleets ready with the latest technology and ensure robust components are integrated. Refurbishment of existing commercial aircrafts is a major trend prevailing in the aviation industry at present. The trend is expected to surge over the period, leading to huge opportunity for the aircraft component suppliers and the Maintenance, Repair, and Overhaul (MRO) companies. The refurbishment of aircraft includes engines, landing gears, radars and antennas, among others. The USM suppliers ensure the availability of some of the major aircraft components at lesser costs and higher reliability, which is increasing the interest among aircraft manufacturers. Thus, such programs drive the demands for air transport USM as these are low-cost alternatives available in the market.

Growing Importance of Proper Aircraft Decommissioning

As per the data from IATA, more than 15,000 commercial aircraft have been decommissioned worldwide in the last 35 years. Around 700 commercial aircraft reach their end of operational lives on average annually. Various economic factors have resulted in the early retirement of aircraft of today, where the average lifecycle of an aircraft usually varies between 20 to 36 years. Aircraft decommissioning has become a vital process that has to be managed efficiently in order to avoid any environmental and safety risks.

Air Transport Used Serviceable Material Market Report Segmentation Analysis

Key segments that contributed to the derivation of the air transport used serviceable material market analysis are product type, aircraft type, provider, and geography.

• Based on product type, the market is divided into engines, aircraft components, and airframes. Among these, the engine has the largest share in 2023. This is owing to the increasing demand for aircraft component replacement. The rising demand for surplus airline components has played a major role in reshaping the airline aftermarket strategies. The shift toward non-engine power-by-the-hour and other guaranteed service level agreements gives USM a more prominent role, which increases demand for the parts.
• Based on aircraft type, the market is divided into narrowbody aircraft, widebody aircraft, business jets, and regional jets. Among the types of aircraft, narrowbody aircraft are the largest users for USM owing to their large number of fleets in operation.
• Depending upon the provider, the market is divided into OEM and Non-OEM.  Among these, OEM is expected to have the largest share in 2023.

Air Transport Used Serviceable Material Market Share Analysis by Geography

The geographic scope of the air transport used serviceable material market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

North America is expected to dominate the global air transport used serviceable material market during the forecast period, owing to the presence of several leading aircraft manufacturers. The major key players include Boeing, Airbus Helicopters, Gulfstream Aerospace, Lockheed Martin, Piper Aircraft, Bye Aerospace, Cirrus, Dassault Aviation, and others. The North American air transport used serviceable material market is analyzed based on different trends occurring in the US, Canadian, and Mexican aviation industry. The North American aviation sector continuously witnesses technological advancements in terms of airframe, engines, avionics, interiors, and other components. Ever ever-rising demand for air travel is continuously pushing aircraft OEMs to deliver highly technological aircraft while MRO companies are experiencing significant demand for quick MRO services.

In the current market scenario, the fall in aviation turbine fuel prices has positively impacted the growth of aircraft fleets and travel in North America. The drop in fuel prices, coupled with the delay in aircraft deliveries, has led the airlines or aircraft end-users to hold on to the existing aircraft fleet for an extended period. This has resulted in a slow aircraft retirement rate.

Air Transport Used Serviceable Material Market Regional Insights

The regional trends and factors influencing the Air Transport Used Serviceable Material Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Air Transport Used Serviceable Material Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Air Transport Used Serviceable Material Market Report Scope

Air Transport Used Serviceable Material Market Players Density: Understanding Its Impact on Business Dynamics

The Air Transport Used Serviceable Material Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Air Transport Used Serviceable Material Market are:

1. A J Walter Aviation Limited
2. AAR Corp
3. AFI KLM & E&M
4. Delta Material Services
5. GA Telesis
6. LLC

Disclaimer: The companies listed above are not ranked in any particular order.

Air Transport Used Serviceable Material Market News and Recent Developments

The Air Transport Used Serviceable Material market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Air Transport Used Serviceable Material Market are listed below:

• Block Aero and the Aircraft Fleet Recycling Association (AFRA) are pleased to announce the launch of a ‘Registry-as-a-Service’ airworthiness compliance solution for serialized parts. This initiative will enhance the safety, efficiency, and traceability of aircraft parts management. This strategic partnership leverages Block Aero’s cutting-edge aviation blockchain platform to implement a state-of-the-art database solution. The registry is designed to meet the requirements of civil aviation authorities for information management and public disclosure of aircraft parts reused in the aviation aftermarket. (Source: Company Website, March 2024)

Air Transport Used Serviceable Material Market Report Coverage and Deliverables

The “Air Transport Used Serviceable Material Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Air transport used serviceable material market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Air transport used serviceable material market trends as well as market dynamics such as drivers, restraints, and key opportunities.
• Detailed PEST and SWOT analysis
• Air transport used serviceable material market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the air transport used serviceable material market.
• Detailed company profiles