Press release
Soaring Air Passenger Numbers Fueling Growth In The Air Transport USM Market: A Key Factor Shaping the Future of the Air Transport USM Market in 2025
Air Transport USM
The air transport USM market is projected to grow due to the surge in air passengers. An air passenger is typically an entity or person primarily engaged in transporting people via aircraft within commercial realms. With the increase in air traffic, the significance of regularly maintaining aircraft through consistent repairs and component restorations escalates. For example, the International Air Transport Association (IATA), which is a Canada-based organization supporting airline operations, estimated in March 2022 that there would be 4.0 billion passengers globally by 2024 - which is equal to pre-COVID-19 figures (it includes multi-sector connecting flights counted as a single passenger). The total quantity of travelers in 2021 and projected for 2022 is expected to be 83%, increasing to 94% in 2023, 103% in 2024, and 111% by 2025. Consequently, the growth of the air transport USM market is being fuelled by the increase in air passenger numbers.
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What is the future CAGR of the air transport usm market, and how will it impact industry expansion?
The USM market in the air transport sector has seen significant growth in the recent past. Its growth trajectory indicates a rise from $5.56 billion in 2024 to $5.9 billion in 2025, with a compound annual growth rate (CAGR) of 6.1%. Various factors contribute to the historic period's growth, including an aging aircraft fleet, cost-effectiveness in aviation operations, rigorous regulatory norms, an increase in global air travel, and sustainability drives.
Expectations point towards a robust expansion of the air transport USM market size in the upcoming years. The market is projected to escalate to $7.46 billion by 2029, reflecting a compound annual growth rate (CAGR) of 6.0%. The surge in this forecasted period is credited to the increasing requirement for aircraft upkeep, the proliferation of budget airlines, the incorporation of a circular economy in the aviation industry, market growth in blossoming regions, and resilience shown during the recovery after the pandemic. The forecast period is also likely to experience major trends like the emergence of on-demand USM marketplaces, the application of artificial intelligence for managing inventory, remote troubleshooting and maintenance aid, a focus on adhering to regulations, as well as collaborations and partnerships to develop USM solutions.
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What new trends are reshaping the air transport usm market and its opportunities?
Leading businesses in the USM air transport sector are concentrating on creating cutting-edge solutions such as air cargo links to improve efficacy and simplify logistics procedures. These are transport networks that allow for goods transportation via air between different places, merging ground and air logistics for optimised efficiency and guaranteed supply chain delivery times. For example, as reported in April 2023, a Denmark-based shipping and logistics firm, A.P. Moller-Maersk, introduced a fresh air cargo link from the US to China with the aim to boost its logistics services and fulfil the escalating demand in the area. This recently launched route is a part of Maersk's scheme to broaden its air freight potentials, ensuring faster delivery durations and heightened supply chain efficacy. The service will integrate the use of both exclusive freighters and commercial passenger aircraft to promote goods transportation, catering to the needs of e-commerce and orthodox shipping. This move highlights Maersk's dedication towards offering integrated logistics solutions and adapting to the changing market scenario.
Which key market segments comprise the air transport usm market and drive its revenue growth?
The air transport usm market covered in this report is segmented -
1) By Product Type: Engine, Components, Airframe
2) By Aircraft Type: Narrow-Body Aircraft, Wide-Body Aircraft, Turboprop Aircraft, Regional Aircraft
3) By Application: Original Equipment Manufacturer (OEM), After market
Subsegments:
1) By Engine: Turbine Engines, Piston Engines, Engine Parts And Accessories
2) By Components: Landing Gear Components, Avionics And Electronic Components, Hydraulic And Pneumatic Components, Electrical Components
3) By Airframe: Fuselage Sections, Wing Assemblies, Tail Sections, Structural Components
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What regions are at the forefront of air transport usm market expansion?
Asia-Pacific was the largest region in the air transport USM market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global air transport USM market during the forecast period. The regions covered in the air transport usm market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the air transport usm market?
Major companies operating in the air transport usm market include Raytheon Technologies Corporation, Boeing Company, Delta Air Lines, Singapore Technologies Engineering Ltd., Lufthansa Technik AG, MTU Aero Engines AG, AirLiance Materials LLC, HEICO Corporation, Triumph Group, VSE Aviation Inc., GA Telesis LLC, Aviation Technical Services Inc., AerSale Inc., Unical Aviation Inc., AJW Group, TurbineAero Inc., Precision Aircraft Solutions, AAR Corporation, TES Aviation Group, A J Walter Aviation Limited, Liebherr Group, Air France Industries and KLM Engineering & Maintenance, Satair Inc., Wencor Group, Aircraft Inventory, Avtrade Ltd.
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What Is Covered In The Air Transport USM Global Market Report?
• Market Size Forecast: Examine the air transport usm market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the air transport usm market for a structured understanding.
• Key Players Overview: Analyze major players in the air transport usm market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the air transport usm market.
• Segment Contributions: Evaluate how different segments drive overall growth in the air transport usm market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the air transport usm market.
• Industry Challenges: Identify potential risks and obstacles affecting the air transport usm market.
• Competitive Landscape: Review strategic developments in the air transport usm market, including expansions, agreements, and new product launches.
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