SkySelect’s Procurement AI Platform Has Processed $5 Billion in Aircraft Parts Transactions

San Francisco | 8 April, 2024 — SkySelect, the procurement AI platform for aircraft parts purchasing, announced it has processed $5 billion in aircraft parts transactions since inception. 

This milestone comes on the heels of an exciting 12 months for the organization, which saw $1.5 billion in transactions in that timeframe, thanks to onboarding several airlines, MROs and suppliers across the globe. 

Additionally, a number of macro trends have led to an increase in technological adoption. 

"We are witnessing a pivotal moment in the aviation industry. The convergence of lessons learned from the pandemic, the ongoing recovery in air travel, increased interest in emerging technology, and the need for more efficient and flexible operations have all led to a sharp rise in demand for our procurement platform,” said Nauman Saeed, Chief Operating Officer, SkySelect.

“It's evident that airlines and MROs must revise their operational methods, and technologies such as procurement AI have transitioned from being optional conveniences to indispensable tools for thriving in today's environment.”

SkySelect has partnered with over 2,500 suppliers covering a range of part categories, assisting airlines and MRO customers with routine, urgent, and AOG requirements.

We’re still in the very early stages of the technological revolution occurring within the aviation industry, but expect adoption to increase sharply. 

According to IT Pro Portal, more than 90% of aviation leaders say they are looking to digital initiatives to improve airline performance, to reduce planning cycles and to stay/become more competitive. Additionally, 68% of airline leaders agree that upgrading their IT infrastructure and software is a major priority.