AAR Corp. has transformed into a stronger aviation aftermarket platform, benefiting from an aging, expanding global aircraft fleet and delayed new aircraft deliveries. Adjusted revenue, EBITDA, and EPS have seen robust growth, with management targeting 15% annual EPS growth, 6–10% revenue growth, and >13% EBITDA margins over the next three years. The Parts Supply segment stands out for its rapid growth, attractive margins, and long-term OEM contracts, while Repair & Engineering remains more operationally intensive.