How Has the Air Transport USM Market Evolved Historically and What is its Current Size
The air transport usm market has seen considerable growth due to a variety of factors.
• In recent years, the size of the USM air transport market has witnessed robust growth. There's an anticipated growth from $5.56 billion in 2024 to $5.9 billion in 2025, with a 6.1% CAGR. Factors contributing to this historical growth include an aging aircraft fleet, efficient aviation operations cost, strict regulatory standards, an increase in global air travel, and sustainability efforts.
How Will The Air Transport USM Market Size Evolve In The Foreseeable Future?
The air transport usm market is expected to maintain its strong growth trajectory in upcoming years.
• Projected to experience substantial expansion in the coming years, the size of the USM market in air transport is predicted to reach $7.46 billion by 2029, with a compound annual growth rate (CAGR) of 6.0%.
Factors contributing to this growth in the forecast period include the increasing need for aircraft maintenance, an upsurge in low-cost airlines, the application of a circular economy in aviation, market growth in emerging regions, and the resilience seen in recovery after the pandemic. On-demand USM marketplaces, the use of artificial intelligence (AI) to optimize inventory, remote diagnostics and maintenance support, an emphasis on regulatory compliance, as well as collaborations and partnerships for USM solutions are among the major trends for the forecast period.
What Factors Are Driving Growth In The Air Transport USM Market?
The surge in air traveler numbers is foreseen to boost the air transport USM market. An air passenger is principally a person or business engaged in aircraft transportation of people in interstate trade. The hassle of maintaining aircraft through routine repairs and component overhauls heightens as air traffic surges. For example, the International Air Transport Association (IATA), a Canadian association supporting airline operations, forecasted in March 2022 that there would be 4.0 billion worldwide passengers in 2024 (considering multi-leg connecting flights as one passenger), hitting pre-COVID-19 standards. The entire traveler count in 2021, along with projected counts of 83% for 2022, 94% for 2023, 103% for 2024, and 111% for 2025, backs this claim. Hence, the growth in air passenger numbers fuels the expansion of the air transport USM market.
What Are The Core Segments Of The Globa Air Transport USM Market?
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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Which Emerging Trends Are Reshaping The Air Transport USM Market Size?
Leading firms in the USM air transport market are prioritizing the creation of innovative and technologically superior solutions, such as air cargo links, to boost efficiency and simplify logistics processes. Air cargo links are transport infrastructures that aid in the transportation of goods via air across multiple points. These links seamlessly blend air and ground logistics to increase efficiency and guarantee prompt delivery within the supply chain. In April 2023, A.P. Moller-Maersk, a shipping and logistics firm based in Denmark, initiated a new air cargo link between the U.S. and China, with the goal of improving its logistics services and catering to rising demand in the area. Maersk's new route is part of their plan to augment their air freight capabilities, which will expedite delivery times and enhance supply chain efficiency. They will utilize a mix of dedicated freighters and commercial passenger planes to facilitate the transportation of goods, thereby addressing the needs of both e-commerce and conventional shipping. Maersk's initiative highlights its dedication to delivering comprehensive logistics solutions and staying adaptable in the changing market scenario.
Who Are the Key Players in 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 are the Regional Insights into the Air Transport USM Market?
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.
