AAR is an independent provider of aftermarket services and parts to commercial airlines and government and defense customers. AAR's largest business, roughly 40% of revenue, is parts supply — distributing new OEM aircraft parts as an exclusive independent distributor, and sourcing and selling used serviceable material (USM) by acquiring retired aircraft and engines, disassembling them, and selling the parts as a cost-effective alternative to new parts. AAR's second segment, repair and engineering at roughly 32% of revenue, performs airframe heavy maintenance (MRO) — the deep regulatory inspections commercial and military aircraft require at set intervals — and component repair across facilities in the U.S., Europe, and Asia. A third segment, integrated solutions at roughly 25% of revenue, manages the U.S. Department of State's global aircraft fleet, runs DoD logistics programs, and operates Trax, a cloud-based MRO software platform sold to airlines on a subscription basis. A small expeditionary services segment manufactures military transport equipment and is considered non-core. AAR's growth strategy centers on winning new exclusive OEM distribution contracts, expanding hangar capacity, integrating the Triumph Product Support acquisition, and growing Trax — both by adding new airline customers and upgrading existing users to a newer platform at meaningfully higher subscription fees.