Description
AAR Corp. is an American aviation services provider offering a range of products and services to commercial and government customers worldwide. Founded in 1951 by Ira Allen Eichner, the company is headquartered in Wood Dale, Illinois, a suburb of Chicago. As of 2023, AAR employs approximately 6,000 people and operates in about 30 countries.
Services and Capabilities:
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Parts Supply: AAR specializes in the sales and leasing of new and used serviceable materials (USM), providing aftermarket distribution of OEM-supplied replacement parts.
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Repair & Engineering: The company offers comprehensive services, including airframe maintenance, component repair, and landing gear overhaul.
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Integrated Solutions: AAR provides fleet management support, customized performance-based supply chain logistics programs for the U.S. Department of Defense and foreign governments, and flight-hour component inventory and repair programs for commercial airlines.
Recent Developments:
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Advocacy for Cost Reduction: AAR is lobbying the U.S. military to adopt the use of overhauled spare parts, known as “used serviceable material,” for its commercial-style aircraft. The company argues that this approach could save billions, as used parts cost about half the price of new ones. This initiative aligns with the U.S. Defense Secretary’s intent to reduce the Pentagon’s $850 billion budget by 8%, translating to approximately $50 billion in savings.
Financial Overview:
As of May 31, 2023, AAR reported net sales of approximately $1.99 billion, operating income of $133.9 million, and diluted earnings per share from continuing operations of $2.55.
For more detailed information about their services and career opportunities, you can visit their official website: AAR Corp.
