Global air transport used serviceable material market is expected to grow from US$ 4,980.2 Mn in 2018 to US$ 8,307.9 Mn by the year 2027. This represents a CAGR of 5.9% from the year 2019 to 2027.
North America was the leading geographic market, and it is anticipated to lose its supremacy to the Asia Pacific during the forecast period.
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Companies Mentioned in Global Air Transport Used Serviceable Material Market
- A J Walter Aviation Limited
- AAR Corp
- AFI KLM & E&M
- Delta Material Services
- GA Telesis, LLC
- General Electric
- Honeywell International Inc.
- Liebherr Group
- Lufthansa Technik
- Pratt & Whitney
LUCRATIVE REGIONAL MARKETS
Rising Aircraft Maintenance, Repair, and Overhaul Activities is driving the Air Transport Used Serviceable Material Market
The global market for air transport USM has been segmented into five major regions — North America, Europe, APAC, MEA, and South America. In 2018, North America led the global air transport USM market with more than 30% share, followed by the Asia Pacific and Europe. The presence of well-developed countries such as the US and Canada and high focus on the aerospace sector are two of the major factors responsible for the growth of air transport USM market in North America.
The US and Canada are characterized by high disposable individual incomes, higher standards of living, and rapid technological advancements in the arena of aerospace engineering. Owing to the higher standards of living in North America, airplanes are the most widely used means of transport for domestic as well as international travel. Hence, the demand for commercial aircraft for passenger travel and cargo services is quite high in this region. The North American region is also a hub of some of the world’s largest aircraft and helicopter manufacturers such as Boeing, Textron, Gulfstream, Lockheed Martin, Northrop Grumman, Piper Aircraft Inc., Cirrus Design Corporation, Electric Aircraft Corporation, and Bombardier.
The global airspace is experiencing a 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 integrated. Refurbishment of existing commercial aircraft is a major trend prevailing in the aviation industry at present. The trend is expected to surge over the period leading to a huge opportunity for the aircraft component suppliers and the Maintenance, Repair, and Overhaul (MRO) companies.
The refurbishment of aircraft includes engine, 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 the aircraft manufacturers. Thus, such programs drive the demands for air transport to use the serviceable material market as these are low-cost alternatives to OEM parts. Further, different stakeholders in the aviation industry have ventured into the air transport USM space. The aircraft OEMs, component suppliers, MROs have all tapped into the air transport used serviceable market driving its growth.
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Reasons to Buy :
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the air transport used serviceable material market, thereby allowing players to develop effective long term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to product type, aircraft type, and provider.
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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