AAR

What AAR does

AAR CORP. (NYSE: AIR) is an independent aerospace and defense aftermarket solutions provider founded in 1955 and headquartered in Wood Dale, Illinois, with operations in over 20 countries. The company operates across four reporting segments — Parts Supply, Repair/Engineering/Software, Government Solutions, and Legacy Commercial Programs (in wind-down) — offering aircraft parts distribution (new and used) through its PAARTS e-commerce storefront and a global warehouse network; airframe and component MRO services across 9 facilities in North America, Europe, and Asia-Pacific; and a growing portfolio of aviation software including Trax (MRO/fleet management), Aerostrat (maintenance planning), Airvoyant (AI-powered procurement launched April 2026 and built on AWS), and Airinmar (component warranty management). Customers include major commercial airlines (Delta, Air Canada, Alaska Airlines, JetBlue, Thai Airways, Virgin Atlantic, among others) and U.S. defense agencies (Navy, Marine Corps, Air Force), with the latter representing concentrated multi-hundred-million-dollar contract wins.

The company's revenue model combines transaction-based parts distribution (historically generating over 70% of revenue), transaction-priced MRO services across global facilities, recurring SaaS subscriptions for software platforms, and managed-services-style government logistics contracts. Strategic growth has been driven primarily through M&A — most notably the $725 million Triumph Group Product Support acquisition (2024), Trax (2023/2025), Aerostrat and ADI American Distributors (2025), HAECO Americas (2025), and Aircraft Reconfig Technologies (2026) — combined with capacity expansion (Oklahoma City 80,000+ sq ft facility expansion) and OEM distribution agreements (Woodward, Triumph, Arkwin). Q3 FY2026 revenue reached $845M (+25% YoY) with FY2026 guidance of approximately $3.4B, EBITDA margin of 12.1%, and management targeting $4.0B by FY2029 with 15% annual EPS growth.

Name

AAR

Legal name

AAR CORP.

Website

https://aarcorp.com

Company type

Public

Founded year

1955

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

AAR CORP. is an independent aerospace and defense aftermarket solutions provider offering parts distribution, airframe and component MRO, aviation software (Trax, Aerostrat, Airvoyant), and government logistics services to commercial airlines and U.S. defense customers across 20+ countries.

Ownership category

akta.pro rank

Product category

Aerospace Aftermarket Services

NAICS

Aerospace Product and Parts Manufacturing (33641), Other Aircraft Parts and Auxiliary Equipment Manufacturing (336413)

SIC

Aircraft Parts & Auxiliary Equipment, Nec (3728), Aircraft & Parts (3720), Aircraft Engines & Engine Parts (3724)

akta.pro primary industry

Parts Distribution & Spares Management (Aftermarket) (IMABALAK)

akta.pro secondary industries

Commercial Airframe MRO (Heavy Checks & Structural) (IMABALAA), Component MRO (LRU/Rotables, Hydraulics, Pneumatics) (IMABALAD), Modifications, STC & Retrofit Integration (IMABALAM), Engine MRO (Shop Visits, Overhaul & Module Repair) (IMABALAC)

Keywords

• Aviation aftermarket services
• Aircraft parts distribution
• MRO services
• Fleet management software
• Government logistics support

Headquarters

HQ city

Wood Dale

HQ country

United States

HQ region

North America

Offices15 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Parts Distribution: Distribution of new and used aircraft parts, engines, and components to airlines, MROs, and other aviation customers through global warehouse network and PAARTS e-commerce store. Generates over 70% of company revenue.
2. MRO Services: Airframe and component maintenance, repair, and overhaul services across 9 MRO facilities in North America, Europe, and Asia-Pacific. Includes heavy maintenance, component repair, and engineering services.
3. Software (Trax, Aerostrat, Airvoyant): SaaS platforms for MRO management, fleet maintenance planning, and AI-powered procurement. Recurring software licenses and subscriptions to airline and MRO customers.
4. Government Solutions: Logistics support, mobility systems, and sustainment services for U.S. government including Navy, Marine Corps, and Air Force. Includes C-40A fleet support, pallet manufacturing, and defense logistics contracts.
5. OEM Distribution Agreements: Preferred distribution agreements with manufacturers like Woodward for consumable engine parts (fuel filters, gaskets, seals) for CFM LEAP, GEnx, and CF34 engines. Extends defense market relationship into commercial aviation.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

AAR is an independent aerospace and defense aftermarket solutions provider that distributes new and used aircraft parts and engines, provides airframe and component maintenance, repair, and overhaul (MRO) services across nine global facilities, and sells software platforms (Trax, Aerostrat, Airvoyant, Airinmar) for fleet management, maintenance planning, AI-powered procurement, and warranty management. The company serves commercial airlines, third-party MROs, business aviation operators, and U.S. government/defense customers across more than 20 countries, with over 70% of revenue generated from aftermarket parts and MRO services.

Product overview

AAR is an independent provider of aviation services offering a portfolio of interconnected products across four main segments: Parts Supply (new/used parts distribution through PAARTS Store), Repair (Airframe MRO and Component MRO services), Software (Trax fleet management, Aerostrat planning, Airvoyant AI procurement, Airinmar warranty management), and Government Solutions (defense logistics and mobility systems). The software portfolio operates as a platform-plus-modules architecture where Trax serves as the core MRO/fleet management system, augmented by Aerostrat for planning, Airvoyant for AI-powered procurement automation, and Airinmar for warranty services—all integrated with each other and with Aeroxchange's supplier network of over 5,000 suppliers.

Differentiator

Problem solved

Functional benefit

Brands

• Trax: Aircraft MRO and fleet management software platform
• Aerostrat
• Airvoyant
• Airinmar
• PAARTS

Products and services

• Parts Supply Distribution of new and used aircraft and engine parts through a global warehouse network, including exclusive distribution agreements with OEMs like Woodward for consumable engine parts (fuel filters, gaskets, seals) for CFM LEAP, GEnx, and CF34 engines. Generates over 70% of company revenue, serving airlines, MROs, and aviation customers worldwide.
• Airframe MRO Heavy maintenance, repair, and overhaul services for commercial and defense aircraft across multiple facilities in North America (Oklahoma City, Rockford, Miami, Greensboro, Indianapolis, Lake City), Europe (Windsor, Trois-Rivières, Amsterdam), and Asia-Pacific (Bangkok). North America's largest independent MRO provider with approximately 15% share of independent parts distribution.
• Component MRO Component repair and overhaul services including landing gear, avionics, wheels and brakes, and other aircraft systems across global facilities. Includes Airinmar warranty management services and component services for flight-hour programs.
• Government Solutions Comprehensive logistics support, mobility systems, shelters, and sustainment programs for U.S. and allied government defense customers including U.S. Navy, Marine Corps, and Air Force. Includes $305M C-40A fleet contractor logistics support and $450M U.S. Air Force pallet contracts through 2032.
• PAARTS Store E-commerce platform for searching aircraft parts inventory, comparing costs, and purchasing parts directly, including defense part search and RFQ capabilities. Supports Factory New, Overhauled, Serviceable, Repairable, and As Is condition codes with warranty periods varying by condition.
• Trax Aircraft MRO and fleet management software platform that provides digitized maintenance processes, paperless hangar solutions, and enterprise resource management for airlines and MROs. Used globally by airlines including Air Atlanta Icelandic under multi-year contracts.
• Aerostrat Maintenance planning software that works in conjunction with Trax to provide comprehensive digital solutions for aviation maintenance operations optimization.
• Airvoyant AI-powered aviation procurement platform that automates parts sourcing, analyzes supplier quotes, and generates purchase recommendations for airlines and MROs. Built on AWS and integrated with Aeroxchange's network of over 5,000 suppliers and ERP systems like Trax. Uses AI agents for autonomous ordering and targets 20-30% procurement cost reduction.
• Airinmar Component repair and warranty management services that support flight-hour programs and provide technical expertise for component maintenance. Operates from Wokingham, UK location.
• Aircraft Reconfig Technologies (ART) - Cabin Interior Engineering Aircraft cabin interior design, manufacturing, and certification services enabled by FAA Organization Designation Authorization (ODA), allowing AAR to issue supplemental type certificates (STCs) and Parts Manufacturer Approval (PMA) independently for aircraft cabin interior modifications.

Quantifiable outcome

• 25% year-over-year revenue growth in Q3 FY2026
• +4 more outcomes

Named customers13 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability3 records

Feature4 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• Woodward Inc.coreChannel Partner/ Reseller/ Distributor · 22 April 2026Multi-year commercial distribution agreement making AAR the preferred distributor of Woodward's consumable parts (fuel filters, gaskets, seals) for CFM LEAP, GEnx, and CF34 commercial jet engines directly to airlines. Extends existing defense market relationship into commercial aviation through AAR's global warehouse network with faster delivery and AOG support capabilities.
• Delta Air LinescoreStrategic or Co-development Partner · 21 April 2026Subject matter expert collaboration for Airvoyant AI procurement platform development, providing real-world perspective during platform rollout and shaping product development.
• Air CanadacoreStrategic or Co-development Partner · 21 April 2026Subject matter expert collaboration for Airvoyant AI procurement platform development, providing early feedback and real-world perspective during platform's rollout.
• Air Europa, Allegiant, Atlas Air, JetBlue, Thai Airways, Virgin AtlanticcoreStrategic or Co-development Partner · 21 April 2026Launch partners and advisors for Airvoyant AI procurement platform, shaping development and serving as early adopters to provide feedback on features and capabilities.
• AeroxchangecoreTechnology or Integration · 21 April 2026Airvoyant platform integrated directly with Aeroxchange's ecosystem of over 5,000 suppliers, enabling automated parts sourcing and quote analysis across the network.
• Otto Instrument ServiceminorChannel Partner/ Reseller/ Distributor · 26 February 2026Distribution agreement for LASEREF IV inertial reference system for business aviation operators. AAR leverages global supply-chain reach and distribution infrastructure to ensure availability and rapid global deployment of the avionics system.
• Arkwin IndustriesminorChannel Partner/ Reseller/ Distributor · 14 February 2026Renewed multi-year global distribution partnership. AAR continues as exclusive distributor for Arkwin's aerospace components, supporting engine repair market demand.
• Alaska AirlinescoreStrategic or Co-development Partner · 10 February 2026Partnership focused on digitized maintenance processes at expanded Oklahoma City MRO facility. Alaska Airlines anchoring new capacity with contracted work and collaborating on paperless hangar solutions and digital operations.
• TRIUMPHcoreChannel Partner/ Reseller/ Distributor · 1 February 2024Exclusive distribution agreement for Boeing and Airbus platform components. Expands AAR's authorized parts distribution capabilities for commercial aircraft platforms.
• DonecleminorOthersAutonomous aircraft inspection drone company; AAR listed as a customer for drone inspection services at MRO facilities.

Scale indicators13 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Lufthansa Technik: One of the world's largest independent MRO providers offering airframe, component, and engine MRO services to commercial airlines globally. Directly comparable to AAR's Parts Supply and airframe/component MRO segments and named in AAR's own competitive set.
• ST Engineering: Singapore-based aerospace MRO and aircraft services group with broad airframe and component MRO capabilities. Directly comparable to AAR's Repair/Engineering segment and named in AAR's value proposition as a direct competitor.
• StandardAero: Independent aerospace MRO provider specializing in engine MRO, component services, and engine aftermarket support. Closely comparable to AAR's Component MRO and engine parts distribution activities.
• HAECO: Hong Kong-based independent MRO provider with airframe, component, and engine MRO capabilities across multiple geographies. AAR acquired HAECO Americas in 2025, underscoring direct competitive overlap.
• HEICO: Aerospace and electronics company supplying FAA-approved aftermarket replacement parts (PMA) and repair services. Closely comparable to AAR's Parts Distribution business and PMA capability enabled by the FAA ODA acquisition.
• Delta TechOps: Airline-affiliated MRO division (Delta Air Lines) providing airframe, component, and engine MRO to third-party customers. Comparable to AAR's airframe MRO business and named among its select airline customers.

Broad incumbents

• TransDigm Group: Dominant aerospace components manufacturer and aftermarket supplier with proprietary sole-source parts across aircraft systems. A broad incumbent that competes with AAR in distribution and component MRO, with a much larger market footprint.
• Boeing Global Services: Aftermarket services arm of Boeing offering parts, MRO, training, and digital solutions to commercial and government customers. A broad incumbent explicitly named as a key competitor to AAR's independent MRO and parts business.
• Airbus Services: Aftermarket services division of Airbus offering parts, MRO, and digital fleet management to operators of Airbus aircraft. Broad incumbent competing with AAR across parts supply and MRO, particularly for A320-family and widebody operators.
• Honeywell Aerospace: Diversified aerospace supplier with extensive aftermarket services, parts distribution, and engine/APU MRO offerings. A broad incumbent with overlapping component distribution and MRO capabilities relative to AAR.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/AARCORP
• Facebookfacebook.com/AARCORP
• LinkedInlinkedin.com/company/aar-corp
• Instagraminstagram.com/aarcorp/?hl=en

Compliance12 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries9 records

Funding overview

Funding rounds4 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A7 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about AAR