AerSale is an aviation aftermarket company focused on mid-life commercial aircraft and engines. AerSale buys used aircraft and engines ("feedstock"), then monetizes them through three channels: selling or leasing whole assets, disassembling them and selling individual components as used serviceable material (USM), and performing maintenance, repair, and overhaul (MRO) services for third-party customers. AerSale's customer base exceeds 1,000 worldwide, with roughly 46% of revenue coming from outside the U.S. AerSale reports two segments: Asset Management Solutions (~63% of revenue), which acquires and monetizes used aircraft and engines through whole-asset sales, leasing, and USM parts sales; and TechOps (~37% of revenue), which provides nose-to-tail MRO services across multiple U.S. facilities. TechOps also includes an Engineered Solutions unit that develops proprietary FAA-approved products, including AerSafe (fuel tank flammability protection) and AerAware (an Enhanced Flight Vision System for the 737NG). AerSale's business model targets a 25% unlevered IRR on feedstock acquisitions, and its key advantage is the ability to combine monetization paths — leasing an asset first, then parting it out — extracting more value than single-channel competitors. Near-term growth initiatives include MRO capacity expansion, growing its engine and aircraft lease pool, capitalizing on AerSafe demand ahead of a November 2026 FAA compliance deadline, and expanding sales to government and military customers.