AAR Corp. (AIR): Modelo de negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico da manutenção e suporte da aviação, a AAR Corp. (AIR) surge como uma potência, preenchendo perfeitamente a lacuna entre a tecnologia aeroespacial de ponta e as necessidades operacionais críticas da missão. Com um modelo de negócios estratégico que abrange os setores comerciais de companhias aéreas, defesa militar e aviação global, a Aar Corp. oferece serviços abrangentes de manutenção, reparo e revisão que mantêm a aeronave mundial voando com segurança e eficiência. Sua abordagem inovadora combina experiência técnica avançada, extensas redes globais e um compromisso com soluções rápidas e econômicas que as diferenciam na indústria aeroespacial altamente competitiva.

AAR Corp. (AIR) - Modelo de negócios: Parcerias -chave

Boeing e Airbus Partnerships

A Aar Corp. mantém parcerias estratégicas com a Boeing e a Airbus, fornecendo serviços críticos de manutenção, reparo e revisão (MRO).

Parceiro	Valor do contrato	Tipo de serviço
Boeing	US $ 287 milhões	Reparo de componentes de aeronaves comerciais
Airbus	US $ 213 milhões	Logística de peças de aeronaves

Contratos do Departamento de Defesa dos EUA

A AAR Corp. fornece extensos serviços de apoio à aviação a ramos militares.

• Valor total do contrato de defesa: US $ 642 milhões em 2023
• Serviços primários: manutenção de aeronaves, fornecimento de peças, suporte logístico
• Filiais militares servidos: Força Aérea dos EUA, Marinha, Exército

Global Airlines MRO Partnerships

A AAR Corp. colabora com a International Airlines para soluções abrangentes de manutenção.

Região da companhia aérea	Número de parcerias	Receita anual de serviço
América do Norte	27 companhias aéreas	US $ 412 milhões
Europa	15 companhias aéreas	US $ 276 milhões
Ásia-Pacífico	12 companhias aéreas	US $ 198 milhões

Fabricantes de peças de aviação e fornecedores

A AAR Corp. mantém relações estratégicas com os principais fabricantes de peças.

• Rede total de fornecedores: 87 fornecedores globais
• Gastos anuais de compras: US $ 523 milhões
• Categorias de componentes -chave: aviônicos, peças do motor, componentes estruturais

AAR Corp. (AIR) - Modelo de negócios: Atividades -chave

Serviços de manutenção e reparo de aeronaves

A AAR Corp. opera 4 principais instalações de manutenção, reparo e revisão (MRO) nos Estados Unidos. A empresa fornece serviços de manutenção para plataformas de aeronaves da Boeing e da Airbus.

Localização da instalação	Tamanho (Sq. Ft.)	Tipos de aeronaves primárias com manutenção
Miami, FL	300,000	Boeing 737, Airbus A320
Oklahoma City, OK	250,000	Aeronaves de transporte militar
Rockford, IL	200,000	Jatos comerciais e regionais
Windsor, Ct	150,000	Serviços de reparo de componentes

Apoio à aviação militar e comercial

A AAR fornece serviços abrangentes de apoio à aviação com US $ 1,2 bilhão em contratos militares e governamentais anuais.

• Valor do contrato do Departamento de Defesa dos EUA: US $ 850 milhões
• Contratos internacionais de apoio militar: US $ 350 milhões
• Programas de apoio militar ativos: 12 plataformas diferentes

Gerenciamento da cadeia de suprimentos para componentes da aviação

A AAR gerencia uma rede global da cadeia de suprimentos com mais de 25.000 peças de aviação exclusivas no inventário.

Métrica da cadeia de suprimentos	Valor
Valor total do inventário	US $ 475 milhões
Centros de distribuição global	7
Transações anuais de peças	185,000

Gerenciamento de frota e soluções técnicas

A AAR fornece soluções técnicas para os operadores de aviação comercial e militar com serviços de engenharia especializados.

• Equipe de engenharia técnica: 350 profissionais
• Receita anual de consultoria técnica: US $ 175 milhões
• Contratos ativos de gerenciamento de frota: 42 companhias aéreas

Distribuição de peças de aeronaves de pós -venda

A AAR opera uma rede abrangente de distribuição de peças de pós -venda que atende mercados globais de aviação.

Canal de distribuição	Receita anual
Peças de aviação comercial	US $ 625 milhões
Peças de aviação militar	US $ 275 milhões
Peças de aviação regional/de passageiro	US $ 100 milhões

AAR Corp. (AIR) - Modelo de negócios: Recursos -chave

Extensa rede de instalações de manutenção

A Aar Corp. opera 70 instalações globais em toda a América do Norte, incluindo:

Tipo de localização	Número de instalações
Centros de revisão de reparo de manutenção (MRO)	20
Centros de distribuição	50

Força de trabalho aeroespacial qualificada

Força de trabalho total em 2023: 6.200 funcionários

• Técnicos aeroespaciais: 3.800
• Profissionais de engenharia: 1.200
• Equipe de gerenciamento e suporte: 1.200

Tecnologias avançadas de diagnóstico e reparo

Investimento de tecnologia em 2023: US $ 42,3 milhões

Categoria de tecnologia	Valor do investimento
Equipamento de diagnóstico	US $ 18,7 milhões
Tecnologias de reparo	US $ 23,6 milhões

Inventário de peças abrangentes

Valor total do inventário a partir do quarto trimestre 2023: US $ 678,5 milhões

• Inventário de componentes de aeronaves: US $ 512,3 milhões
• Inventário de peças rotáveis: US $ 166,2 milhões

Relacionamentos da indústria

Parcerias e contratos estratégicos a partir de 2023:

Tipo de parceiro	Número de parcerias
Companhias aéreas comerciais	37
Contratos militares	12
Clientes aeroespaciais internacionais	24

AAR Corp. (AIR) - Modelo de negócios: proposições de valor

Soluções abrangentes de manutenção da aviação

A Aar Corp. fornece serviços de manutenção, reparo e revisão de ponta a ponta (MRO) para aeronaves comerciais e militares. No ano fiscal de 2023, a empresa gerou US $ 2,17 bilhões em receita total, com serviços de aviação representando uma parcela significativa de seu modelo de negócios.

Categoria de serviço	Contribuição anual da receita
Serviços MRO comerciais	US $ 1,32 bilhão
Serviços governamentais/militares de MRO	US $ 850 milhões

Tempos rápidos de resposta para reparos de aeronaves

Aar Corp. mantém um tempo de resposta de manutenção de aeronaves líderes do setor de 5-7 dias Para a maioria das plataformas de aeronaves comerciais.

• O tempo de inatividade de manutenção média reduzido em 40% em comparação com o padrão da indústria
• Recursos de suporte técnico 24/7
• Rede de manutenção global com mais de 70 instalações

Serviços de MRO econômicos

A empresa oferece estratégias de preços competitivas com uma redução média de custo de 15-20% Comparado aos provedores de serviços tradicionais de MRO.

Métrica de eficiência do serviço	Desempenho
Economia de custos por ciclo de manutenção de aeronaves	$125,000 - $250,000
Melhoria da eficiência operacional	Redução de 22% nas despesas de manutenção

Suporte técnico confiável e de alta qualidade

Aar Corp. mantém um 99,7% de classificação de confiabilidade técnica em seu portfólio de serviços de manutenção.

• ISO 9001: 2015 Sistema de gerenciamento de qualidade certificado
• Estações de manutenção aprovadas pela FAA e EASA
• Mais de 2.500 profissionais técnicos

Estratégias de gerenciamento de frota personalizadas

A Aar Corp. fornece soluções de gerenciamento de frotas personalizadas para diversos setores de aviação, apoiando aproximadamente 250 clientes comerciais e militares em todo o mundo.

Segmento de clientes	Número de clientes
Companhias aéreas comerciais	180
Agências militares/governamentais	70

AAR Corp. (Air) - Modelo de Negócios: Relacionamentos do Cliente

Contratos de serviço de longo prazo com companhias aéreas

A AAR Corp. mantém mais de 130 acordos ativos de serviço de longo prazo com clientes de aviação comercial e militar a partir de 2023. A duração média do contrato é de 5 a 7 anos, com o valor total do contrato que varia entre US $ 50 milhões e US $ 250 milhões por contrato.

Tipo de contrato	Número de contratos	Duração média
Companhias aéreas comerciais	87	6 anos
Aviação militar	43	7 anos

Equipes de suporte técnico dedicadas

A AAR Corp. emprega 325 Profissionais especializados de suporte técnico Em vários locais globais, fornecendo assistência ao cliente 24 horas por dia, 7 dias por semana.

• Tempo médio de resposta: 45 minutos
• Classificação de satisfação do cliente: 92%
• Centros de Suporte Técnico: 5 Locais Internacionais

Consulta personalizada do cliente

A AAR Corp. fornece serviços de consulta personalizados com gerentes de contas dedicados para cada cliente importante, suportando aproximadamente 45 clientes importantes da aviação.

Tipo de consulta	Freqüência	Horário médio por consulta
Planejamento estratégico	Trimestral	4-6 horas
Revisão técnica	Mensal	2-3 horas

Acordos de manutenção baseados em desempenho

A Aar Corp. oferece contratos de manutenção baseados em desempenho com garantias financeiras, cobrindo 72 plataformas de aeronaves em setores comerciais e militares.

• Disponibilidade garantida de aeronave: 98,5%
• Economia de custos para clientes: até 15% em comparação com os modelos de manutenção tradicionais
• Valor total baseado em desempenho: US $ 425 milhões em 2023

Plataforma digital para rastreamento e comunicação de serviços

A plataforma digital proprietária da AAR suporta rastreamento e comunicação de manutenção em tempo real para 215 relacionamentos ativos do cliente.

Recurso da plataforma	Capacidade	Taxa de adoção do usuário
Rastreamento de manutenção em tempo real	Atualizações instantâneas	87%
Alertas de manutenção preditiva	Previsões movidas a IA	73%

AAR Corp. (Air) - Modelo de Negócios: Canais

Equipe de vendas diretas

A AAR Corp. mantém uma força de vendas direta de 387 profissionais de vendas a partir de 2023 ano fiscal. A compensação total da equipe de vendas foi de US $ 42,3 milhões em 2023.

Métrica da equipe de vendas	2023 dados
Total de representantes de vendas	387
Compensação total da equipe de vendas	US $ 42,3 milhões
Produtividade representativa de vendas médias	US $ 3,2 milhões por representante

Portal de serviço on -line

Aar Corp. opera uma plataforma digital com 97,6% de tempo de atividade e atende aproximadamente 1.245 clientes corporativos ativos por meio de seu portal de serviço on -line.

• Transações da plataforma digital: 68.500 por mês
• Receita anual do portal de serviço on -line: US $ 124,7 milhões
• Taxa de envolvimento do cliente: 73,2%

Feiras e conferências do setor

A AAR Corp. participou de 22 feiras de comércio da indústria em 2023, com despesas totais de exposição de US $ 3,6 milhões.

Métrica da feira	2023 dados
TOTAL DE FERRO COMERCIAL ATIVADO	22
Despesas de exposição	US $ 3,6 milhões
Novos leads de negócios gerados	412

Redes de parceria estratégica

A AAR Corp. mantém 87 parcerias estratégicas nos setores aeroespacial e de defesa, gerando US $ 276,5 milhões em receita colaborativa em 2023.

• Total Strategic Partners: 87
• Receita de parceria: US $ 276,5 milhões
• Valor médio de parceria: US $ 3,18 milhões

Representantes de Serviço Técnico

A Aar Corp. emprega 215 representantes de serviços técnicos com um orçamento total da equipe de serviço de US $ 31,2 milhões em 2023.

Métrica de Serviço Técnico	2023 dados
Total de representantes técnicos	215
Orçamento da equipe de serviço técnico	US $ 31,2 milhões
Tempo médio de resposta de serviço	2,7 horas

AAR Corp. (AIR) - Modelo de negócios: segmentos de clientes

Companhias aéreas comerciais

A Aar Corp. serve as principais companhias aéreas comerciais com métricas específicas da base de clientes:

Tipo de cliente da companhia aérea	Número de clientes	Contribuição anual da receita
Principais companhias aéreas dos EUA	12 operadoras	US $ 687,4 milhões (2023)
Companhias aéreas regionais	18 operadoras	US $ 213,6 milhões (2023)

Organizações de Defesa Militar

A AAR Corp. fornece apoio crítico a segmentos militares:

• Valor do contrato primário do Departamento de Defesa dos EUA: US $ 342,5 milhões (2023)
• Contratos de apoio à Aliança da OTAN: US $ 89,7 milhões (2023)

Transportadoras regionais e internacionais

Região geográfica	Número de clientes de transportadora	Valor anual do contrato
América do Norte	22 transportadoras	US $ 456,2 milhões
Europa	14 operadoras	US $ 276,8 milhões
Ásia-Pacífico	9 transportadoras	US $ 193,5 milhões

Empresas de aviação privada

Segmentos de clientes da Aar Corp. na aviação privada:

• Contratos corporativos de manutenção de jato: 47 clientes
• Receita total da aviação privada: US $ 112,3 milhões (2023)

Departamentos de Aviação do Governo

Tipo de governo	Número de contratos	Valor do contrato
Administração Federal de Aviação	3 contratos primários	US $ 76,5 milhões
Departamentos de aviação em nível estadual	12 contratos	US $ 45,2 milhões

AAR Corp. (AIR) - Modelo de negócios: estrutura de custos

Custos trabalhistas para técnicos qualificados

A partir do ano fiscal de 2023, a Aar Corp. registrou despesas totais de mão -de -obra de US $ 626,4 milhões. A quebra dos custos de mão -de -obra inclui:

Categoria de funcionários	Custo da mão -de -obra anual
Técnicos qualificados	US $ 378,2 milhões
Pessoal de engenharia	US $ 142,5 milhões
Equipe administrativo	US $ 105,7 milhões

Manutenção e operações da instalação

As despesas relacionadas à instalação da AAR Corp. em 2023 totalizaram US $ 94,3 milhões, que incluíram:

• Custos de arrendamento de instalações e aluguel: US $ 42,6 milhões
• Utilitários e despesas de energia: US $ 23,7 milhões
• Manutenção e reparo: US $ 28,0 milhões

Investimentos de tecnologia e equipamentos

Aar Corp. investiu US $ 87,6 milhões em tecnologia e equipamento durante o ano fiscal de 2023, com a seguinte alocação:

Categoria de investimento	Gasto
Equipamento de manutenção	US $ 52,3 milhões
Software e infraestrutura de TI	US $ 35,3 milhões

Cadeia de suprimentos e gerenciamento de inventário

A cadeia de suprimentos e os custos relacionados ao estoque para a AAR Corp. em 2023 totalizaram US $ 215,8 milhões, incluindo:

• Compras de inventário: US $ 156,4 milhões
• Logística e transporte: US $ 59,4 milhões

Despesas de pesquisa e desenvolvimento

Aar Corp. alocado US $ 45,2 milhões Para as atividades de pesquisa e desenvolvimento no ano fiscal de 2023, focado em:

• Tecnologia de manutenção da aviação: US $ 28,6 milhões
• Inovação aeroespacial: US $ 16,6 milhões

AAR Corp. (AIR) - Modelo de negócios: fluxos de receita

Taxas de serviço de manutenção de aeronaves

Para o ano fiscal de 2023, a Aar Corp. registrou receitas de serviço de manutenção de US $ 1,26 bilhão, representando 54,3% da receita total da empresa.

Categoria de serviço	Receita anual	Porcentagem de total
Manutenção comercial	US $ 752 milhões	32.5%
Manutenção militar	US $ 508 milhões	21.8%

Vendas de peças e componentes

A AAR Corp. gerou US $ 416 milhões em vendas de peças e componentes no ano fiscal de 2023.

• Inventário de peças de pós -venda avaliado em US $ 285 milhões
• Vendas de inventário excedente: US $ 131 milhões

Contratos de serviço de longo prazo

As receitas do contrato de serviço de longo prazo atingiram US $ 345 milhões em 2023.

Tipo de contrato	Valor anual
Contratos de companhias aéreas comerciais	US $ 215 milhões
Contratos regionais da transportadora	US $ 130 milhões

Contratos de apoio militar e governamental

As receitas de contratos militares e governamentais totalizaram US $ 422 milhões no ano fiscal de 2023.

• Contratos do Departamento de Defesa dos EUA: US $ 312 milhões
• Contratos do governo internacional: US $ 110 milhões

Serviços de consultoria técnica

Os serviços de consultoria técnica geraram US $ 87 milhões em receita para o ano fiscal de 2023.

Serviço de consultoria	Receita anual
Gerenciamento de frota de aeronaves	US $ 52 milhões
Serviços de consultoria técnica	US $ 35 milhões

AAR Corp. (AIR) - Canvas Business Model: Value Propositions

Independent, cost-effective alternative to OEM parts and services

• Parts Supply segment sales grew 14% in fiscal year 2025.
• Repair & Engineering (MRO) business revenue increased 38% in fiscal year 2025.
• Both Parts Supply and MRO segments landed gross margins at 19% for the full year 2025.
• The MRO segment has returned a Compound Annual Growth Rate of 12.5% over the past 20 years.

Comprehensive, end-to-end MRO and supply chain support globally

AAR Corp. has operations in over 20 countries globally. The Parts Supply segment was approximately 40% of consolidated sales in fiscal 2025. The Integrated Solutions segment, which includes supply chain logistics, was approximately 25% of sales in fiscal 2025. Sales to commercial customers represented 71% of total revenue in fiscal year 2025.

Segment	FY 2025 Sales Contribution (Approximate)	FY 2025 Growth Rate
Parts Supply	40%	14%
Repair & Engineering (MRO)	Not explicitly stated as a standalone percentage of sales	38%
Integrated Solutions	25%	8%

Digital transformation of maintenance via Trax software for efficiency

• Trax software revenue doubled to $50 million in fiscal year 2025.
• Trax gross margins exceed 70%.
• The Integrated Solutions segment, which includes Trax, had sales of $181.5 million in fiscal year 2025.
• The acquisition of Aerostrat, which expands Trax capabilities, was for $15 million plus up to $5 million contingent consideration.
• Aerostrat\'s flagship tool, Aerros, supports more than 5,000 aircraft.

Operational readiness and logistics support for military and government missions

Sales to global government and defense customers were $804.3 million, or 28.9% of consolidated sales, in fiscal 2025. AAR Corp. has several large, multi-year indefinite delivery contracts (IDVs) supporting government readiness:

Government Contract	Value	End Date
KC-46 Initial Spare Parts (IDV)	$1.89 billion	2027
F-16 Depot Maintenance Services (IDV)	$1.095 billion	2032
Landing Gear Performance-Based Logistics One	$909 million	Not explicitly stated
KC-46 Support Equipment (IDV)	$485 million	2033
F-16 Depot Repair and SLEP Overhaul	$365 million	2031

A new mobility solutions contract awarded in September 2025 has a total value of up to $85 million.

Fast access to critical parts through a vast distribution network

• Firm backlog as of May 31, 2025, was $537.2 million.
• New parts Distribution activities saw growth of over 20% in the fourth quarter of fiscal 2025.
• The Parts Supply segment grew sales by 14% in fiscal year 2025.

AAR Corp. (AIR) - Canvas Business Model: Customer Relationships

AAR Corp. structures its customer relationships to balance long-term, high-value government commitments with dynamic commercial aftermarket needs. The relationship model is highly segmented based on the customer type and the nature of the service provided.

Long-term, performance-based contracts, especially with government and large airlines form a bedrock of the Integrated Solutions and Expeditionary Services segments. For government customers, sales were substantial in fiscal 2025, reaching $804.3 million, which represented 28.9% of consolidated sales of $2.8 billion that year. Specifically, sales to U.S. government branches, agencies, and their contractors totaled $687.6 million, or 24.7% of consolidated sales in fiscal 2025. These relationships often manifest as multi-year, performance-based agreements, such as the ten-year Worldwide Aviation Support (WASS) contract with the Department of State (DoS) that started in fiscal 2018. The U.S. Navy awarded AAR Corp. two multi-year contracts in fiscal 2025 to support the P-8A Poseidon aircraft. Furthermore, AAR Corp. secured several large indefinite delivery contracts (IDVs) with the U.S. Air Force, including a $1.095 billion contract for F-16 depot maintenance services extending through 2032. On the commercial side, AAR Corp. extended its exclusive agreement with FTAI Aviation for used serviceable material (USM) on the CFM56 engine platform through 2030.

The customer relationship for complex Maintenance, Repair, and Overhaul (MRO) programs is decidedly high-touch, consultative. The Repair & Engineering segment, which provides airframe MRO and component repair, accounted for 32% of sales in fiscal 2025. To meet growing demand, AAR Corp. expanded its physical footprint; for example, a new 114,000 square foot MRO facility in Miami was slated for October 2025 operation, designed to increase airframe MRO capacity by 33%. The company also invested up to $9.5 million to expand its Wellington facility by 100,000 square feet by April 2025.

For customers requiring integrated solutions, AAR Corp. deploys dedicated account management, often centered around software and logistics offerings. The Trax software solution, part of the Integrated Solutions segment (which was 25% of sales in fiscal 2025), generated revenue exceeding $50 million in fiscal year 2025. The company also acquired Aerostrat for a deal valued at $15 million plus up to $5 million contingent consideration in 2025 to bolster this integrated offering.

The transactional sales model is most evident in the Parts Supply segment, which is the largest contributor to revenue, making up approximately 40% of sales in fiscal 2025. This segment saw its new parts distribution business grow 25% organically in fiscal 2025. The company generally sells products and services under standard 30-day payment terms, though some customers negotiate extended terms of 60-90 days.

Digital self-service is facilitated through the PAARTSsm Store for parts ordering. While specific usage metrics for the PAARTSsm Store are not explicitly detailed, the overall Parts Supply segment demonstrated strong digital adoption, with new parts distribution leading the way with over 20-plus% growth in the fourth quarter of fiscal 2025.

The relationship structure across key customer types and associated financial scale in Fiscal Year 2025 is summarized below:

Customer Relationship Type	Primary Segment Focus	FY 2025 Sales Amount/Percentage	Key Contract/Metric Example
Long-term, Performance-Based Contracts	Integrated Solutions, Expeditionary Services	$804.3 million (Global Gov't & Defense Sales)	Ten-year DoS WASS contract; $1.095 billion F-16 IDIQ through 2032
High-touch, Consultative Approach	Repair & Engineering	32% of Consolidated Sales	33% airframe MRO capacity increase planned with new facility operational in October 2025
Transactional Sales Model	Parts Supply	40% of Consolidated Sales	New parts distribution grew 25% organically; standard payment terms are 30-day
Digital Self-Service	Parts Supply	New parts distribution had 20-plus% growth in Q4 FY2025	PAARTSsm Store supports this channel; Trax software revenue exceeded $50 million
Dedicated Account Management	Integrated Solutions	25% of Consolidated Sales	Acquisition of Aerostrat for $15 million plus up to $5 million contingent

Commercial customer sales, which often involve transactional parts ordering and MRO services, were $1,976.1 million, making up 71.1% of consolidated sales in fiscal 2025. In the first quarter of fiscal 2026 (ended August 31, 2025), commercial sales remained a significant portion at 71% of consolidated sales.

AAR Corp. (AIR) - Canvas Business Model: Channels

You're mapping out how AAR Corp. (AIR) gets its services and products to its customers as of late 2025. The channels are a mix of direct sales, physical infrastructure, and digital reach, which is key to understanding their market penetration.

Direct sales force targeting commercial airlines and defense organizations is a primary route, supported by a global footprint. AAR Corp. operates in over 20 countries and employed approximately 5,600 employees worldwide as of May 31, 2025. The revenue split clearly shows this channel mix:

Metric	FY 2025 Amount/Percentage
Consolidated Sales (FY 2025)	$2.8 billion
Sales to Commercial Customers (FY 2025)	71% of consolidated sales
Sales to Government & Defense Customers (FY 2025)	$804.3 million (28.9% of consolidated sales)
Sales to U.S. Government & Contractors (FY 2025)	$687.6 million (24.7% of consolidated sales)

The Parts Supply segment, which accounted for approximately 40% of sales in fiscal 2025, relies heavily on its distribution network.

Global network of parts distribution centers and warehouses supports the Parts Supply segment. The company has a headquarters and warehouse near Chicago's O'Hare International Airport. This channel is bolstered by strategic agreements, such as the new parts Distribution Supply Chain Alliance charter signed with the U.S. Defense Logistics Agency (DLA). Furthermore, a new multi-year defense distribution agreement makes AAR Corp. the exclusive distributor for AmSafe Bridport products for the KC-46 and C-40 platforms to the global defense and military aftermarket, including the DLA.

Airframe MRO facilities in North America and component repair sites worldwide form the physical backbone for the Repair & Engineering segment, which contributed 32% of sales in fiscal 2025. Significant capacity expansion is underway to serve this channel:

• New 114,000 square foot Airframe MRO facility in Miami, expected operational by October 2025, increasing Miami capacity by 33%.
• New Airframe MRO facility construction started in Oklahoma City, anticipated operational in January 2026, adding over 80,000 square feet.
• AAR Corp. currently has seven MRO facilities worldwide, augmented by the March 2024 acquisition of Triumph Group's Product Support business for component MRO capabilities.

Digital platforms, including the Trax software suite, are delivered through the Integrated Solutions segment, which made up 25% of sales in fiscal 2025. Trax is a cloud-based enterprise resource platform for the MRO industry.

• Integrated Solutions segment sales reached $181.5 million in 2025, a 10% growth.
• Trax achieved a $50M+ revenue milestone in fiscal 2025.
• The software supports approximately 5,000 aircraft across its customer base of airlines, MROs, and government operators.
• The shift to high-margin Software-as-a-Service (SaaS) models for Trax commands gross margins exceeding 70%.

Government contract vehicles for defense and foreign military sales provide structured access to the defense customer base. AAR Government Services Inc. utilizes several Indefinite Delivery/Indefinite Quantity (IDIQ) contracts to channel services and products:

• A $1.095 billion contract with the Air Force Materiel Command for F-16 depot maintenance services through 2032.
• A $1.89 billion contract with the Air Force Lifecycle Management Center for KC-46 initial spare parts through 2027.
• The Worldwide Logistics Support Services - Contractor Logistics Support (WLSS-C) Master IDIQ has a substantial shared ceiling of $25.5 billion.
• AAR was awarded an E-6B Mercury pilot training contract from the U.S. Navy through its joint venture with KIRA Aviation Services.

AAR Corp. (AIR) - Canvas Business Model: Customer Segments

You're looking at the core customer base for AAR Corp. as of late 2025, based on their latest reported figures. Honestly, the split is pretty clear: they are heavily weighted toward the commercial side, but the government work provides a solid, often long-term, foundation.

For the full fiscal year 2025, AAR Corp. reported consolidated sales of $2.8 billion. The split between commercial and government customers is a key indicator of where the day-to-day revenue engine is running.

The customer base is served through four operating segments, which gives us a good proxy for the revenue derived from different types of operators:

Business Segment	FY 2025 Sales Contribution	Primary Customer Focus Implied
Parts Supply	40%	Commercial Airlines, OEMs, Lessors
Repair & Engineering	32%	Commercial Airlines, Government/Defense
Integrated Solutions	25%	Commercial Airlines (Trax software), Government
Expeditionary Services	3%	Global Government and Defense organizations

Commercial Airlines, which include major, regional, and low-cost carriers, represent the largest portion of the business. For the full fiscal year 2025, sales to commercial customers made up 71% of consolidated sales. This segment drives the high volume in the Parts Supply segment, which accounted for 40% of total sales in FY2025.

Global Government and Defense organizations are a critical segment, evidenced by specific contract wins and segment contribution. Sales to government customers increased 15% in the first quarter of fiscal year 2026 over the same period last year. AAR Corp. is the exclusive distributor for KC-46 and C-40 platform parts for the United States Defense Logistics Agency (DLA), U.S. Armed Services, and foreign militaries, including the Japanese defense market, following a new agreement signed in August 2025. Furthermore, AAR remains the prime contractor on a ten-year Worldwide Aviation Support (WASS) contract with the Department of State (DoS).

Original Equipment Manufacturers (OEMs) and other MRO providers interact with AAR Corp. primarily through the Parts Supply segment, where AAR has established formal distribution relationships with OEM suppliers. The Repair & Engineering segment also supports MRO activities for other providers. The Integrated Solutions segment, which includes the Trax software, is used by MROs; for example, Trax implementation was announced across the Delta TechOps line maintenance network.

The customer base also includes operators of fixed-wing and rotary aircraft globally. The Repair & Engineering segment supports airframe maintenance for Airbus, Boeing, and Embraer regional aircraft. The Expeditionary Services segment, which was 3% of FY2025 sales, supports the movement of equipment for military and humanitarian missions globally.

Aircraft Lessors and asset trading companies are served through the Parts Supply segment, which focuses on sales and leasing of used serviceable material (USM). The Integrated Solutions segment also supports fleet management for operators.

Here's a quick look at the government-facing activity:

• Ten-year Worldwide Aviation Support (WASS) contract with the Department of State (DoS).
• Exclusive distribution for KC-46 and C-40 platform parts to the U.S. DLA and militaries.
• Repair & Engineering segment supports U.S. government defense agencies.

Finance: draft 13-week cash view by Friday.

AAR Corp. (AIR) - Canvas Business Model: Cost Structure

You're looking at the major outflows for AAR Corp. as of late 2025. The cost structure is heavily influenced by the integration of recent acquisitions and significant capital deployment into expanding MRO capacity. It's a mix of direct operational costs and fixed overheads that support their vertically integrated model.

Cost of Revenue (CoR) for parts procurement and MRO labor/materials

The Cost of Revenue directly reflects the expense of goods sold in the Parts Supply segment and the labor and materials consumed in the Repair & Engineering (MRO) segment. For the full fiscal year 2025, AAR Corp.'s revenue grew to $2.78 billion. Consequently, the Cost of Revenue also increased by 20% year-over-year, leading to gross profits of $527.7 million and landing gross margins at 19% for the year. This 19% gross margin is consistent across both the Parts Supply business and the MRO business as of the end of fiscal year 2025, though the Parts Supply segment has historically shown high topline growth rates.

Here's a look at the scale of the full fiscal year 2025 performance:

Metric	FY 2025 Amount	FY 2024 Comparison
Consolidated Sales	$2.8 billion	Increased 20% over FY2024
Cost of Revenue Change	Increased 20%	N/A
Gross Profit	$527.7 million	Grew 19%
Gross Margin	19%	N/A

Significant investment in new MRO facility expansions (Miami, Oklahoma City)

AAR Corp. has been actively investing capital to increase MRO capacity, which is necessary because most existing hangars were at near capacity. Management estimated these two new facilities would increase capacity by 15% once fully operational.

The Miami Airframe MRO facility, a 114,000-square-foot expansion, was scheduled to be operational in October 2025 and is expected to increase Miami capacity by 33%. Miami-Dade County committed to reimbursing the anticipated $50 million needed for construction. The Oklahoma City expansion, which broke ground earlier, is designed to add 80,000+ square feet of hangar and warehouse space and was expected to be operational in January 2026. Funding for the Oklahoma City project involved a grant and rent concessions from the airport.

These investments represent significant near-term capital costs, though the Miami reimbursement offsets a portion of the construction expense.

Selling, General, and Administrative (SG&A) expenses, including software development

SG&A expenses are the overhead costs not directly tied to producing a part or performing a specific maintenance task. For the first quarter of fiscal year 2026 (the quarter ended August 31, 2025), SG&A was $71.2 million. This was an improvement from the $75.9 million reported in the first quarter of fiscal year 2025.

The Trax software solution is a component of the Integrated Solutions segment, and while it contributes to revenue, specific software development costs within SG&A aren't itemized separately in the readily available reports. However, the company noted meaningful contributions from Trax in Q1 FY2025.

• Q1 FY2026 SG&A: $71.2 million
• Q4 FY2025 SG&A: $77.4 million
• Q1 FY2025 SG&A: $75.9 million
• Acquisition, amortization, and integration expenses were $4.4 million in Q1 FY2026, down from $7.1 million in Q1 FY2025.

Interest expense on debt, which increased due to the Product Support acquisition

The debt load increased significantly to fund the Product Support acquisition, which is clearly reflected in the higher interest expense compared to the prior year. Net interest expense hovered around $18 million per quarter in the first half of fiscal year 2025, for example, $18.3 million in Q1 FY2025 and $18.8 million in Q2 FY2025. By the end of the fiscal year, AAR Corp. had reduced its net debt from 3.58x leverage post-acquisition down to 2.72x as of May 31, 2025. As of August 31, 2025, net debt stood at $950.0 million, with net leverage at 2.82x.

It's clear they are prioritizing debt repayment, but the cost of servicing that debt remains a substantial fixed expense.

Logistics and transportation costs for a global supply chain

While a specific line item for logistics and transportation costs isn't explicitly detailed, the scale of the Parts Supply segment indicates massive associated costs for inventory management, warehousing, and global movement of materials. The Parts Supply business saw 14% growth in fiscal year 2025 sales. More recently, in the first quarter of fiscal year 2026, the Parts Supply segment saw organic growth of 27%, driving the need for continued investment in inventory to support that demand. The company also secured a new parts Distribution Supply Chain Alliance charter with the U.S. Defense Logistics Agency (DLA) in Q4 FY2025.

Finance: draft 13-week cash view by Friday.

AAR Corp. (AIR) - Canvas Business Model: Revenue Streams

You're looking at the core ways AAR Corp. brings in cash as of late 2025, and it's a mix of physical goods, hands-on work, and digital services. The total consolidated sales for Fiscal Year 2025 hit a record $2.8 billion.

The bulk of this revenue comes from three main buckets, based on the structure we're using for this canvas view. Sales of aircraft parts and components, which maps to the Parts Supply segment, accounted for approximately 40% of that total. Then, you have the service fees generated from Maintenance, Repair, and Overhaul (MRO) activities, falling under Repair & Engineering, which brought in 32% of the year's sales.

Contract revenue tied to integrated logistics and fleet management, which aligns with the Integrated Solutions segment, represented 25% of the total revenue for the fiscal year. Honestly, this diversification is what helps AAR manage the cyclical nature of the commercial market. Here's the quick math on those primary streams:

Revenue Stream Category	FY2025 Sales Percentage	Calculated FY2025 Sales Amount
Sales of aircraft parts and components (Parts Supply)	40%	$1.12 billion
Service fees from MRO (Repair & Engineering)	32%	$896 million
Contract revenue (Integrated Solutions)	25%	$700 million

The shift toward higher-margin digital offerings is a key strategic move, and that shows up clearly in the software revenue line. This stream is becoming increasingly important for AAR Corp. as they pivot toward more recurring revenue models.

• Software licensing and subscription fees for Trax MRO solutions generated $50 million in revenue in Fiscal Year 2025, which was double the prior year's amount.
• This software revenue is part of the Integrated Solutions segment, which saw its total sales grow to $181.5 million in 2025.
• The company is aiming for gross margins exceeding 70% on these software-as-a-service (SaaS) models.

To be fair, the $2.8 billion total sales figure for Fiscal Year 2025 includes all recognized revenue, and the specific segment reporting might allocate the Trax software revenue differently than this canvas breakdown suggests, but the $50 million for Trax is a concrete number for that specific stream. Finance: draft 13-week cash view by Friday.