The global Air Transport USM market is witnessing significant growth, driven by various factors that highlight the increasing demand for cost-effective, efficient, and sustainable solutions in the aviation industry. USMs refer to components and parts that have been previously used but are still serviceable and can be reused or refurbished for further use. This market is becoming a crucial element in the aviation supply chain, supporting airlines, aircraft maintenance providers, and suppliers globally. Let's explore the key drivers fueling this growth.
According to Stratview Research, the air transport USM market is likely to grow at a promising CAGR of 4.1% during 2022-2027 to reach an estimated value of USD 9.5 billion in 2027.
1. Cost Efficiency and Economic Pressures
One of the most significant drivers of the Air Transport USM market is the constant need for cost efficiency. Airlines and maintenance, repair, and overhaul (MRO) providers are always looking for ways to reduce operational costs without compromising safety and performance. USMs offer a cost-effective alternative to new parts, often at a fraction of the price. This enables airlines to maintain their fleets at lower costs, which is particularly crucial in the face of fluctuating fuel prices and rising labor costs in the aviation sector. With increasing financial pressures, the adoption of USMs is becoming more prevalent.
2. Sustainability and Circular Economy
As sustainability becomes a core focus across industries, the aviation sector is also adopting more sustainable practices, and the USM market plays a critical role in this transition. Reusing and refurbishing components instead of discarding them aligns with the principles of the circular economy. By extending the life of aircraft parts through refurbishment and reuse, airlines contribute to reducing waste and minimizing the need for new raw materials. This environmentally-friendly approach is gaining momentum as airlines face increased pressure to lower their carbon footprints and adopt greener technologies.
3. Supply Chain Disruptions and Component Shortages
The global aviation industry is highly dependent on a complex network of suppliers for aircraft parts. Disruptions in the supply chain, such as those seen during the COVID-19 pandemic, have highlighted the need for alternative sources of parts. USMs provide a reliable and ready-to-use option for airlines facing long lead times on new parts. The ability to source serviceable components from the USM market helps ensure continuity of operations during times of crisis or supply chain interruptions.
4. Advances in Refurbishment and Testing Technologies
Technological advancements in the refurbishment and testing of aircraft parts have increased the reliability and performance of USMs. With improvements in inspection techniques and quality control, refurbished components now meet stringent safety and performance standards, making them a viable choice for modern fleets. These advances enhance the appeal of USMs as a safe and reliable option for operators seeking to cut costs without sacrificing quality.
Conclusion
The global Air Transport USM market is expanding due to a combination of cost pressures, sustainability initiatives, supply chain challenges, and advancements in refurbishment technology. As airlines and MRO providers seek more efficient and environmentally-friendly ways to manage their fleets, the USM market is poised for continued growth, offering significant value in the ever-evolving aviation industry.
