The Aerospace Used Serviceable Material Market Forecasts by Aircraft Type (Narrowbody Aircraft Widebody Aircraft, Regional Aircraft, Turboprop Aircraft), by Product (Engine Parts, Component, Airframe), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) Plus Analysis of Leading Companies operating in this industry.
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The global aerospace used serviceable material market is competitive in nature as large number of well-established manufacturers are operating in the industry. Some prominent manufacturers are Honeywell International Inc., GE Aviation, Eaton Corporation, Boeing, Raytheon Company, Deutsche, Lufthansa AG, Liebherr Group, AAR Corp, A J Walter Aviation Limited, United Technologies Corporation, Safran SA, Curtiss Wright Corporation, Rolls-Royce plc, GA Telesis, LLC, and Air France-KLM Group.
Development in the global Used Serviceable Material (USM) industry will hamper development in the industry for aircraft aftermarket parts as demand for aftermarket parts will be significantly reduced due to the availability of USM components. The increasing number of retired aircraft and the subsequent demand for MRO services are key drivers of the growth of the global market for used service materials (USM). In addition, an emphasis on aircraft modernization projects and a growing attention on aviation health are fueling business demand.
Used serviceable material (USM) and time-continued material are parts derived from aircraft that have been scrapped or parted out. Operators with ageing fleets close to retirement can use USM to replace parts in a fleet and then avoid expensive repairs and shop visits (SVs) or the purchase of new notable components. Operators use USM to allow MRO more cost-effective by preventing expensive maintenance which are needless with a retirement fleet approaching.
Aircraft refurbishment involves generators, landing gears, radars, and antennas among others. USM suppliers ensure the availability at lower prices and greater efficiency of some of the main aircraft parts, which raises competition among aircraft manufacturers. These initiatives therefore push the demands for air travel to use the market for usable products, since these are low-cost alternatives to OEM pieces. In addition, numerous players in the aviation sector have penetrated into USM space for air travel. The aircraft OEMs, product manufacturers, MROs have all taped into the useful sector of air travel, pushing their production.
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Radical improvements in operating efficiency, advanced avionics, and impressive interior cabin designs and noise reduction capabilities all contribute to increased demand from the customers. However, the wider use of composites, advanced manufacturing technology requirements and conversion to new electrical systems are also rapidly changing the manufacturing of aircraft and creating challenges across the supply chain as the supply base struggles to make the necessary changes to meet OEM requirements.
Leading Companies Operating in the Aerospace Used Serviceable Material Market
- Honeywell International Inc.
- GE Aviation
- Eaton Corporation
- Boeing
- Raytheon Company
- Deutsche Lufthansa AG
- Liebherr Group
- AAR Corp
- A J Walter Aviation Limited
- United Technologies Corporation
- Safran SA
- Curtiss Wright Corporation
- Rolls-Royce plc
- GA Telesis, LLC
- Air France-KLM Group
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