AirNxt Aims to Revolutionize Aviation Parts Market with Transparency
AirNxt is tackling a significant challenge in the aviation industry: the lack of transparency in identifying and selling available parts. This opacity often leads to unfair market values and buyer frustration, with price manipulation being a common issue.
The aviation sector is sitting on a wealth of used serviceable material (USM), but a risk-averse attitude is preventing its full potential from being realised. This cautious approach is driving up parts prices, with demand for parts from end-of-life aircraft being particularly high. Over 40 airlines, including United Airlines and British Airways, have been salvaging parts from retired aircraft stored during the COVID-19 pandemic, further impacting spare part availability and prices.
Tony Ramage of EirTrade Aviation notes that supply chain issues are expected to persist, pushing airlines to adapt their strategies and consider USM. A shift towards parts pooling and digital traceability is anticipated to increase USM usage and build trust in the market. However, the industry's natural conservatism towards new parts is being challenged by these market forces.
AirNxt's efforts to create a more democratised marketplace could help address these issues by providing better transparency and facilitating fair sales. As the aviation sector continues to evolve, embracing USM and innovative solutions like AirNxt's will be crucial for managing parts supply and prices effectively.
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