Air Transport Used Serviceable Material Market

Used serviceable materials (USMs) are components from retired aircraft that are installed in the operational aircraft. Moreover, the average aircraft retirement age is 25 – 30 years but they are dismantled when they reach the age of 18 – 20 years, so their parts are still operational with little servicing. The USM suppliers thus ensure that some of the major aircraft components are available at lower costs and with greater reliability, increasing interest among aircraft manufacturers. Aircraft users, aircraft manufacturers, and maintenance repair and overhaul (MRO) service providers thus are increasingly emphasizing the procurement of used service materials since it costs around 60 – 80% of the new part replacing multiple parts of an airliner. Furthermore, the use of serviceable material is a cost-effective process that ensures the quick replacement of faulty components with refurbished components rather than dismantling of aircraft or engines. Furthermore, these are directly replaced in the service aircraft, which helps to reduce the maintenance cost of the aircraft. MRO providers thus are implementing USMs to reduce overall operation cost and time.

COVID-19 Impact Analysis: 

• Government across major countries have announced a lockdown because of the COVID 19 resulting in the halt in business. The lockdown and travel restrictions have severely affected the aviation industry since, the air travel globally was halted. Moreover, due to lockdown the since flying of aircraft has been stopped it affecting the demand for aircraft maintenance. Furthermore, due to lockdown the inventory of used serviceable material remained stagnant as demand for used serviceable material declined. Furthermore, due to social distancing norms, there was the unavailability of labor required for aircraft maintenance which further delayed the operation. Furthermore, due to the pandemic, there were huge losses thus, aircraft owners decided to delay their aircraft retirement thus affecting the supply of USM. The aviation industry is a developing sector that was severely impacted by the pandemic, but it is expected to recover post-pandemic and drive the demand for air transport used serviceable material market.

Top Impacting Factors 
Rise in repair & maintenance of aircraft, surge in number of older aircrafts retiring, and increase in travelling via aircraft drive the growth of the market.
Faults in refurbished products and tough competition from aftermarket aircraft parts market hinder the market growth. 
Reduction in maintenance cost, rise in sale of USM, and rise in private jets market act as an opportunity for market growth.
Market Trends
Rise in Sale of Used Serviceable Material (USM)

•  Replacing faulty parts with new ones will inquire huge costs as the rise in fuel prices is already increasing the operating cost of the aircraft. The used serviceable material (USM) market, thus has started to flourish because it offers refurbished, highly reliable parts at a lower cost. For instance, AAR Corporation and Fortress Transportation and Infrastructure Investors have announced an agreement that focuses on modular repair and refurbishment of CFM56-7B and CFM56-5B engines in 2020. Moreover, Pratt & Whitney CSA, an aircraft engine manufacturer has collaborated with Next Level Aviation for the distribution of USM in 2021. Furthermore, Boeing expanded its service portfolio in 2019 by entering the used serviceable material business segment. The rise in use of USM during aircraft repair & maintenance, thus acts as an opportunity for the growth of air transport used serviceable material market.

Key Benefits of the Report:

• This study presents the analytical depiction of the air transport used serviceable material market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with challenges of the air transport used serviceable material market.
• The current market is quantitatively analyzed to highlight the growth scenario of the air transport used serviceable material market.
• The report provides detailed air transport used serviceable material market analysis based on competitive intensity and the competition that will take shape in coming years.

Questions Answered in the Air Transport Used Serviceable Material Market Research Report:

• Who are the leading market players active in the air transport used serviceable material market?
• What would be the detailed impact of COVID-19 on the market?
• What are the current trends that would influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the air transport used serviceable material market?
• What are the future projections that would help in taking further strategic steps?

 Air Transport Used Serviceable Material Market Report Highlights