AAR CORP. is a leading independent provider of solutions to the global aviation aftermarket. The company offers a broad line of products and services to commercial and government aerospace customers. It operates globally in over 20 countries through four business segments: Parts Supply, Repair & Engineering, Integrated Solutions and Expeditionary Services.

AAR generates revenue primarily through the sale and leasing of used serviceable material and distribution of new OEM-supplied replacement parts in its Parts Supply segment. The Repair & Engineering segment earns revenue from airframe maintenance and component repair services. Integrated Solutions generates income from fleet management, supply chain logistics programs, flight hour component inventory and repair programs, and integrated software solutions including Trax. Expeditionary Services derives revenue from the design, manufacture, and repair of transportation pallets, containers, shelters, and specialized command and control systems for government and humanitarian operations.

The company operates through the following segments: Parts Supply, Repair & Engineering, Integrated Solutions and Expeditionary Services.

• Parts Supply: This segment primarily consists of sales and leasing of USM and aftermarket distribution of new, original equipment manufacturers supplied replacement parts. It accounted for approximately 40% of sales in fiscal 2025. AAR develops digital solutions including the online PAARTS sm Store, which facilitates electronic order fulfillment.

• Repair & Engineering: This segment primarily provides airframe maintenance and component repair services. It accounted for approximately 32% of sales in fiscal 2025. The segment also develops Parts Manufacturer Approval parts and proprietary designated engineering representative repairs for aftermarket applications.

• Integrated Solutions: This segment primarily consists of fleet management and operations of customer-owned aircraft, customized performance-based supply chain logistics programs in support of the U. S. Department of Defense and foreign governments, flight hour component inventory and repair programs for commercial airlines, and integrated software solutions including Trax. It accounted for approximately 25% of sales in fiscal 2025. Through Trax, AAR provides a fully cloud-based electronic enterprise resource platform for the MRO industry and offers paperless mobility apps that automate MRO workflows with artificial intelligence.

• Expeditionary Services: This segment primarily consists of products and services supporting the movement of equipment and personnel by the U. S. and foreign governments and non-governmental organizations. It accounted for approximately 3% of sales in fiscal 2025. The segment designs, manufactures, and repairs transportation pallets and a wide variety of containers and shelters used in military and humanitarian tactical deployment activities.

AAR maintains a satisfactory competitive position in the aviation aftermarket through its responsiveness to customer needs, attention to safety and quality, unique portfolio of high-quality solutions with lower cost to the customer, combination of market expertise and deep technical knowledge, long-standing customer relationships, and integrated, connected business model. Aviation competitors include OEMs, the service divisions of large commercial airlines, and other independent suppliers of parts, repair, and overhaul services to the commercial and defense markets.

The principal customers for AAR's products and services are domestic and foreign passenger airlines, domestic and foreign cargo airlines, regional and commuter airlines, business and general aviation operators, OEMs, aircraft leasing companies, aftermarket aviation support companies, the DoD and its contractors, the DoS, and foreign military organizations or governments.