Air Transport USM Global Market Report 2023

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The Air Transport USM Global Market Report 2023 by The Business Research Company, provides air transport USM market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Air Transport USM Global Market Report 2023, the market size is expected to grow from $5.02 billion in 2022 to $5.33 billion in 2023 at a compound annual growth rate (CAGR) of 6.26%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global air transport USM market size is expected to reach $6.59 billion in 2027 at a CAGR of 5.42%.

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.

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The air transport USM market 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), Aftermarket

The strategic partnership is a key trend in the aircraft transport USM market. Major players are entering into a partnership to leverage each other’s resources and expand in the market. For instance, in June 2021, Pratt & Whitney CSA, a US-based manufacturer of aircraft and helicopter engines, partnered with Next Level Aviation. The partnership is aimed at the sale of USM for aircraft engines. Additionally, it strengthens Next Level Aviation’s position as a leading global supplier of USM, notably supporting Boeing and Airbus’s aircraft platforms and related jet engines. Next Level Aviation is a US-based company that distributes used serviceable materials (USM). Furthermore, in December 2020, AAR, a US-based provider of aviation services, partnered with Fortress Transportation and Infrastructure Investors. The partnership aimed to create an exclusive seven-year CFM56 used serviceable material (“USM”) relationship to develop Serviceable Engine Products. Fortress Transportation and Infrastructure Investors is a US-based company that owns and acquires high-quality infrastructure and equipment.

The air transport USM market report table of contents includes: