Used Serviceable Material (USM) Market Overview

Used Serviceable Material (USM) Market Size was valued at USD 6.9 Billion in 2022. The used serviceable material (USM) market industry is projected to grow from USD 7.18 Billion in 2023 to USD 9.906 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.10% during the forecast period (2023 - 2032).

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 fuelling the growth of the market for used serviceable material (USM). A Booming Used serviceable material market development in forecast year.

Key Players:

Delta TechOps (US), Collins Aerospace (US), Avail (US), Delta TechOps (US)

Market Segmentation:

The 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.

Based on 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.

Regional Analysis:

The used serviceable material market statistics 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 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.

Related reports:

·         Digital 3D Printing Market Size, Growth and Insights by Component (System/Device, Software/Services), Material (Polymers, Metal and Alloy, Others), Technology (Stereo Lithography, Deposition Modeling, Laser Sintering, Jetting Technology, Electron Beam Melting, Others), Application (Dental, Prosthetics, Orthopedics, Medical Components, Tissue Engineering, Hearing Aids, Drug Screening, Others), End-User - Global Forecast till 2030

·         Industrial Valve Market Research Report: Information by Type (Ball, Butterfly, Check, Gate, Globe, Plug), Material (Stainless Steel, Cast Iron, Alloy Based, Cryogenic), End-Use (Oil & Gas, Energy & Power, Chemicals, Construction) — Forecast till 2030

About Market Research Future:

Market Research Future (MRFR) is a global market research company that prides itself on its services, offering comprehensive and accurate analysis with respect to various markets and consumers worldwide. Market Research Future has the distinguished goal of providing customers with optimal quality research and granular research. Our market research by products, services, technologies, applications, end users, and market players for global, regional, and national market segments, allows our customers to see more, learn more, and do more, helping to answer your most important questions

Contact:

Market Research Future (part of Wantstats Research and Media Private Limited),

99 Hudson Street, 5Th Floor, New York, New York 10013,

United States of America

+1 646 845 9312

Email: [email protected]