Used Serviceable Material (USM) Market Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2024

 

Market Highlights

The growth of the global market for used serviceable material (USM) is largely driven by the increasing demand for the number of replacement parts of aircraft by aircraft manufacturers in developing nations. This is leading to an increased demand for maintenance and repair facilities. This has led aircraft manufacturers to procure used parts for various applications. Moreover, the need to modernize the older aircraft with new, reliable, and latest technologies is fueling the growth of the global market for used serviceable material (USM).

The global USM market has been segmented based on product type, aircraft type, provider type, and region.

On the basis of product type, the market has been segmented into engine, components, and airframe. The engine segment accounted for the largest share due to the use of engine components from retired aircraft, in various aircraft engines. The component segment is expected to register the highest growth rate during the forecast period.

On the basis of aircraft type, the market has been segmented into narrow body, wide body, turboprop, and regional. The USM parts are removed from the retired aircraft and fitted into operating or working aircraft. The narrow body segment of the market is expected to register the highest growth rate during the forecast period due to the wide use of USMs from the retired narrow body parts. The wide body segment is expected to be the fastest-growing during the forecast period.

Based on provider type, the market has been classified as OEM and non-OEM. The OEM segment is expected to grow at a higher rate and account for the larger share during the forecast period due to rise in preference of OEM suppliers by the airlines and other end users.

The global used serviceable material (USM) market has been segmented, based on region, into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America.

The North American market is expected to account for the largest share of the global used serviceable material (USM) market. The leading countries in this region are the US and Canada. The US government is investing heavily in the infrastructure required for USMs for commercial and defense applications to increase the accuracy of operations, reduce operational time, and decrease the risk factors involved. The rise in the number of aircraft and the aftermarket parts would propel the growth of the used serviceable material (USM) market in the region during the forecast period. The market in Asia-Pacific is expected to be the fastest-growing during the forecast period due to the rise in the number of commercial aircraft fleet.

Key Players

The key players in the global USM market are Eaton Aerospace (Denmark), Aviall (US), Boeing (US), GA Telesis, LLC (US), Delta TechOps (US), Liebherr Aerospace (Germany), AAR Corp. (US), Collins Aerospace (US), General Electric (US), TES Aviation Group (UK), and Lufthansa Technik (Germany).

Access Report Details @ https://www.marketresearchfuture.com/reports/used-serviceable-material-market-8068

 

Comments

Post a Comment

Popular posts from this blog

GERD and NERD Treatment Market Rising Uptake Of Technology In Medical And Healthcare Sector To Boost Industry’s Growth Market 2019 Market Highlights: GERD & NERD Treatment Market Research Report- Americas forecast till 2023 growing continuously and is expected to grow at a CAGR of 4.02 % from 2017 to 2023. Heartburn is the burning sensation in the chest behind the breastbone that we feel when stomach acid refluxes back into the esophagus (food tube). Increasing prevalence of gastric diseases has increased the investment in GERD medication for research and development. This is expected to further drive the demand for gastroenteric drugs. Major players in GERD & NERD treatment market Some of the major players in this market are ( U.S.), GlaxoSmithKline Plc (U.K), Ironwood Pharmaceuticals, Inc. (U.S.), Jeil pharmaceutical Co. Ltd. (South Korea), Johnson & Johnson (U.S.), Mederi Therapeutics Inc. (U.S.), Medigus Ltd. (Israel), Medtronic Inc. (U.S.), Merck & CO.,...
Read more
Air Ambulance Services Market Size, Share, Trends, Application  Global Air Ambulance Services Market  Overview The Global Air Ambulance Services Market is expected to reach USD 11,456.3 million by 2024 at a CAGR of 2.95% during the forecast period. Air ambulance manufacturers are investing heavily in advanced technologies to reduce costs and improve turnaround time. For instance, 3D printing is dramatically changing the way structures and components of aircraft are currently designed and manufactured. It reduces the design constraints that engineers face when using conventional fabrication techniques. Furthermore, the ability to fabricate functional electronics into complex structures using 3D printing allows manufacturers to offer air ambulances that operate effectively in adverse conditions such as inclement weather, tsunamis, droughts, and cyclones. Global Air Ambulance Services Market  Segmental Analysis The global air ambu...
Read more

Satellite Communication (SATCOM) Market Outlook And Opportunities With Future Growth Scenario By 2027

  Market Forecast The satellite communication (SATCOM) market is projected to register a  CAGR of 8.44%  between  2021 and 2027 .   SATCOM is used for the transmission of information from one place to another with the aid of a satellite that orbits around the Earth. SATCOM is employed for a wide range of mobile applications, including communication to aircraft, ships, vehicles, and hand-held terminals, as well as for TV and radio broadcasting. The increasing deployment of small satellites, growing demand for high-speed Internet, and rising adoption of maritime VSAT are primarily driving the market's growth. Additionally, increasing demand for small form factor SATCOM solutions and frequent launches of military satellitesare driving the global market's growth. Globally, military spending has increased significantly in recent years. Factors such as ongoing conflicts in the Middle East & Africa, long-standing tensions, territorial disputes between ...
Read more