The Business Research Company’s report on the Air Transport USM Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
How have key drivers contributed to the rapid growth of the air transport usm market?
The rise in the number of air passengers is expected to propel the air transport USM market. An air passenger refers to a person or business involved primarily in the transportation of people by aircraft in interstate commerce. As air traffic grows, it becomes more important to maintain aircraft through repairs and component rebuilds regularly. For instance, in March 2022, the International Air Transport Association (IATA), a Canada-based association that supports airline activity, projects that there will be 4.0 billion passengers worldwide in 2024 (including multi-sector connecting flights as one passenger), reaching pre-COVID-19 levels. The total number of travelers in 2021, and in 2022, 83% are anticipated, followed by 94% in 2023, 103% in 2024, and 111% in 2025. Therefore, the increase in the number of air passengers is driving the growth of the air transport USM market.
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How has the air transport usm market size evolved, and what are the latest forecasts for its expansion?
The air transport USM market size has grown strongly in recent years. It will grow from $5.56 billion in 2024 to $5.9 billion in 2025 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to aging aircraft fleet, cost-efficiency in aviation operations, stringent regulatory standards, global air travel growth, sustainability initiatives.
The air transport USM market size is expected to see strong growth in the next few years. It will grow to $7.46 billion in 2029 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to rising demand for aircraft maintenance, expansion of low-cost airlines, circular economy in aviation, market expansion in emerging regions, resilience in post-pandemic recovery. Major trends in the forecast period include on-demand USM marketplaces, artificial intelligence (AI) for inventory optimization, remote diagnostics and maintenance support, emphasis on regulatory compliance, collaboration and partnerships for USM solutions.
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Which major companies dominate 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.
What trends will shape the future of the air taxi market?
Major companies operating in the air transport USM market are focusing on developing technologically advanced solutions, such as air cargo links, to enhance efficiency and streamline logistics processes. Cargo links are transportation connections that facilitate the movement of goods by air between various locations. They integrate air and ground logistics, enhancing efficiency and ensuring timely delivery in the supply chain. For instance, in April 2023, according to A.P. Moller-Maersk, a Denmark-based shipping and logistics company, launched a new air cargo link between the U.S. and China, aimed at enhancing its logistics services and meeting growing demand in the region. This new route is part of Maersk’s strategy to expand its air freight capabilities, allowing for quicker delivery times and improved supply chain efficiency. The service will utilize a combination of dedicated freighters and commercial passenger aircraft to facilitate the transport of goods, catering to both e-commerce and traditional shipping needs. This initiative underscores Maersk’s commitment to providing integrated logistics solutions and adapting to the evolving market landscape.
Which region dominates the air transport usm market, and what factors contribute to its leadership?
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.
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How is the air transport usm market segmented, and which segment holds the largest share?
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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How is the air transport usm market defined, and what are its core characteristics?
Air transport USM (used serviceable material) refers to parts from retired aircraft that have been put in operational aircraft. These materials are immediately replaced in the service aircraft, which aids in lowering the cost of aviation maintenance.
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