Global market for air transport USM is poised to expand at a steady CAGR of 5.1% during 2017-2026. The study further projects that by the end of 2026, over US$ 7 Bn worth of air transport USMs will be sold globally.
Albany, NY -- (SBWIRE) -- 02/02/2018 -- Airline companies across the globe are now opting for air transport USMs. Increasing fuel prices and dwindling air ticket fares despite overflowing demand for air transport facilities has driven airline companies towards the adoption of Used Serviceable Material (USM). Market Research Hub (MRH) has recently added a new study titled "Air Transport USM Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2026" to its wide repository, which offers insights on the market current scenario as well as future growth prospects until 2026. In addition, this 170-page report on the global market for air transport USM offers a precise knowledge base for the market players who seek global expansion.
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Moreover, the historical data analysis is included in this research report which provides comprehensive market overview along with regional market analysis, which focuses on some prime regions, such as North America, Europe and Asia-Pacific, South America, Middle East and Africa. As per the analyst's estimations, the global market for air transport USM is poised to expand at a steady CAGR of 5.1% during 2017-2026. The study further projects that by the end of 2026, over US$ 7 Bn worth of air transport USMs will be sold globally.
Factors Fueling Demand for Air Transport USM
In terms of geographical expansion, it has been analyzed that the market in North America holds a significant share in the market and is likely to remain the most lucrative regional market for air transport USM. The rising preference for air travel in countries such as the U.S. and Canada is expected to continue to fuel the air transport USM market in this region.
The report has also revealed that the engines will be a top-selling product in the global air transport USM market through 2026. In 2017, engines worth US$ 3Bn were sold in the global air transport USM market.
Air transport USMs are relatively affordable and technically feasible for being installed in different aircrafts. Presently, the rising cost pressures owing to the emergence of several low-cost airlines have made it difficult for several airline companies to attain sustainable profits amid surging costs of maintenance, repairs, and operations. To overcome this, air transport firms are increasingly sourcing USMs from larger airlines. This trend is also expected to remain strong in the coming years as well.
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Further, the market has been analyzed on the basis of aircraft type and provider type. On the basis of provider type, the report finds that nearly 60% of air transport USMs will be provided by OEMs in the global market by the end of 2026.
Key players operating in the global air transport USM market are Lufthansa Technik (LHT), Pratt & Whitney, TES Aviation Group, General Electric, and AAR Corp. These Key market players are profiled in detail, and information associated with key financials, key developments, SWOT analysis, company overview, and product overview has been offered.
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