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global Air Transport USM Market size was USD 2.5 billion in 2022, and is expected to reach a value of USD 6.2 billion in 2032, and CAGR of 4.6%

NEW YORK, NY, UNITED STATES , May 25, 2023 /EINPresswire.com/ -- The global Air Transport USM Market industry was valued at USD 2.5 billion in 2022. It is projected to reach USD 6.2 billion by 2032, with a compound annual growth rate (CAGR) of 4.6% during the forecast period. The growth in market revenue can be attributed to several factors, including the increasing demand for air travel, the expansion of commercial airlines' fleets, and the need for cost-effective aircraft maintenance.

One of the main drivers of the USM industry is the demand for efficient and affordable aircraft maintenance. Airlines are turning to USM more frequently because it provides a less expensive alternative to conventional maintenance programs. By utilizing USM, airlines can pay for specific maintenance services they require, rather than investing in a complete maintenance program that may include unnecessary services. This enables them to reduce costs and enhance operational efficiency, which is especially important for smaller airlines with limited budgets.

The air transport USM sector is expanding due to the growing demand for air travel. As air travel becomes more convenient and cost-effective, more people are choosing to fly, leading to an increase in the number of flights and the need for maintenance services. Furthermore, the popularity of low-cost carriers has resulted in a higher number of airlines in operation, which in turn has driven the demand for affordable maintenance solutions.

The expanding fleet size of commercial aircraft is another factor contributing to the growth of the USM market in air transport. As airlines expand their fleets to meet the rising demand for air travel, there is a greater need for maintenance services to ensure the safety and optimal functioning of the aircraft. USM offers a flexible and cost-effective option for airlines to maintain their expanding fleets.

Additionally, technological advancements in the USM industry are expected to fuel market expansion. The use of digital technologies and data analytics in maintenance operations allows airlines to optimize their maintenance programs and reduce costs. Through predictive analytics and machine learning algorithms, airlines can predict when maintenance is required, minimizing downtime and expenses.

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Segments Covered in the Report

The global air transport USM (Used Serviceable Material) market can be analyzed based on two key factors: component type and aircraft type.

In terms of component type, the market encompasses various elements crucial for aircraft maintenance. These include engines, landing gear, hydraulic systems, avionics, and other components. These components play a vital role in ensuring the safe and efficient operation of aircraft.

When considering aircraft type, the air transport USM market caters to a diverse range of aircraft categories. These include wide-body aircraft, narrow-body aircraft, regional jets, and other specialized aircraft types. Each category has specific requirements and maintenance needs, contributing to the demand for USM in the market.

By offering a breakdown based on component type and aircraft type, the analysis provides a comprehensive view of the air transport USM market. This breakdown allows for a deeper understanding of the market dynamics, trends, and opportunities specific to each component and aircraft category.

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Strategic development:

In 2020, the Boeing Company revealed a partnership with Etihad Airways, an airline based in the UAE, to initiate a maintenance program for Boeing's Dreamliner planes. This program involves Etihad Airways offering maintenance, repair, and overhaul services to other airlines operating the Dreamliner aircraft, which will result in increased revenue for both companies.

During the same year, Collins Aerospace, a subsidiary of United Technologies Corporation, introduced a new digital service for aircraft maintenance called "ARINC PaxLink." This software empowers airlines to enhance the passenger experience by providing real-time updates on flight schedules, boarding times, and gate changes.

Moving on to 2021, Pratt & Whitney entered into an agreement with the Indian airline SpiceJet to deliver maintenance services for their fleet of Boeing 737 and Airbus A320neo planes. This agreement is anticipated to enhance Pratt & Whitney's market share within the Indian aviation industry.

In that same year, Meggitt PLC made an announcement about acquiring Cobham Aerospace Communications, a UK-based company that supplies communication equipment for the aviation sector. This acquisition is expected to broaden Meggitt's range of products in the aviation industry and generate additional revenue.

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Competitive Landscape:

Air France Industries KLM Engineering & Maintenance
Boeing Company
General Electric Company
Honeywell International Inc.
Lufthansa Technik AG
Meggitt PLC
MTU Aero Engines AG
Pratt & Whitney
Rolls-Royce Holdings PLC
United Technologies Corporation

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Nikhil Morankar
Reports and Data
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