Global Air Transport USM Market Expand at a Steady CAGR of 5.1% with the Worth of US$ 7 Billion by 2026

An extensive forecast study, titled “Air Transport USM Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2026” has been broadcasted to the online repository of Market Research Reports Search Engine (MRRSE). This 170-page precise study encapsulates valuable details about the market current scenario as well as its future projections on a global and regional level. It further intensely aims to provide major insights into the market’s growth throughout the above-mentioned forecast period in terms of volume and revenue (in US$ Mn). Moreover, the research also investigates market expansion in some of the prime regions such as North America, Europe, Asia Pacific, South America, and Middle East & Africa (MEA).

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Increasing fuel prices and dwindling air ticket fares in the face of brimming demand for air transport facilities has driven airline companies towards adoption of Used Serviceable Material (USM). To tackle expenditure challenges, airline companies across the globe are opting for air transport USMs. This has enabled them in coping with the increasing costs of MROs and rising inclination of consumers towards air travel as a sought-after mode of transport.

Market Research Reports Search Engine (MRRSE) projects that airlines will be compelled to adopt air transport USMs in order to save costs to survive in a volatile marketplace. According to its study, the global market for air transport USM is poised to expand at a steady CAGR of 5.1% during 2017-2026. The study further projects that by the end of 2026, over US$ 7 Bn worth of air transport USMs will be sold globally.

Factors Driving the Sales of Air Transport USMs

Manufacturing an aircraft remains a complex process, and airline companies are compelled to spend millions of dollars on keeping an aircraft in working conditions. Airliners are expected to wait for years before reaping profits from air travel fares. Owing to such scenario, buying new engines and components in refurbishing of existing or new aircrafts becomes financially impractical. Air transport USMs are relatively affordable and technically feasible for being installed in different aircrafts.

Industrial regulations across the globe prohibit the dumping of used aircraft components as they are valuable commodities in the aerospace industry. These components can be serviced and reused to keep an airline company up and running. As a result, old aircrafts are being dismantled to create a range of USMs that be repurposed in the global air transport sector. Cost savings remains the most influential driver for the growth of the global air transport USM market.

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High Demand for Used Serviceable Aircraft Engines in Refurbishing of Narrowbody Jets

The report has revealed the engines will be a top-selling product in the global air transport USM market through 2026. In 2017, engines worth US$ 3 Bn were sold in the global air transport USM market.  The demand for air transport USM is also expected to be high with respect to their use in narrowbody jets. In terms of aircraft-type, almost every other air transport USM sold in the global market will be used for narrowbody jets. Over the forecast period, narrowbody jets are pegged to register a value CAGR of 5.2%.

OEMs to Represent Leading Providers of Air Transport USMs through 2026

Compared to non-OEMs, a majority of air transport USMs will be provided by OEMs. High expenditure in transport of these materials and growing importance on proper maintenance and authorized servicing of air transport USM will drive the contribution of OEMs in the overall market revenues. By 2026-end, nearly 60% of air transport USMs will be provided by OEMs in the global market.

Competition Tracking

The global market for air transport USM will witness participation of a handful of companies, mostly industry leaders. Through 2026, Pratt & Whitney, General Electric, TES Aviation Group, Lufthansa Technik (LHT), and AAR Corp. will represent the key players in the global air transport USM market. These companies are expected to focus on lowering the complexities in procurement of USMs and increasing the maintenance measures before re-installing them into other aircrafts.

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This release was published on openPR.