Press Release

Issued by AeroParts Now.

October 10, 2017

AeroParts Now (APN) today announced the launch of an all-new online marketplace that promises to revolutionize the trading of aviation parts, accessories and services. Conceived as the first e-commerce platform for the specialized aviation industry, APN is the first end-to-end platform connecting aviation industry stakeholders with all the digital tools required for transactions. APN will provide marketplace users with increased transparency, process efficiencies and a superior user experience.

The announcement was made today at what is the nation's sixth largest trade show, the National Business Aviation Association's (NBAA) Business Aviation Convention & Exhibition (NBAA-BACE).

“Today's aircraft parts buying process has many issues, including inaccurate parts catalogs, lack of inventory visibility and seller performance ratings, and unstable pricing,” said APN CEO and co-founder Owen Busch. “As a result, FBOs, MRO providers, OEMs, independent aircraft repairers and individual aircraft owners have all been calling for easy to access market for parts and procurement. We also see a growing trend toward digital purchasing that demands more transparency and connectivity, all the features of the world's most trusted e-commerce sites, ensuring secure and efficient transactions.”

“Our goal was to integrate our crowd-sourced Master Data Catalog with the best in e-commerce, as expected by aircraft parts buyers at all levels of experience. We have made AeroParts Now as easy to use as Amazon,” APN COO and co-founder Carl Helka said. “AeroParts Now 'incubated” its platform for several years, using real-world parts purchasing experience and practical e-commerce practice in its development.”

The APN online marketplace is organized along three core principles: Intelligent Procurement; Seller Enablement; and Commercial-Minded Integrations. Intelligent Procurement allows buyers at even the smallest flight department to have all the advanced tools that a professional buyer would have, including price transparency; true compare, shop, buy and post-transaction work flows; personalized views based on purchase and specific aircraft profiles; price watches and alerts; and extensive seller ratings and performance metrics.

Seller Enablement ensures that aircraft parts OEMs, distributors and parts marketers have all the tools needed to market parts online. Registration and parts listing are free. Sellers pay for results, not for impressions or RFQs, with APN only earning a fee on successfully completed transactions.

Registrants can also market their repair service and manage repair orders. With repairs and exchange parts, APN's automated workflows connect and hold buyers and sellers accountable through the entire process and post-part sales workflow.

Moreover, the APN platform is distinguished through its commitment to continuous, customer-driven improvements. For example, a "smart AOG" sourcing feature was requested by many early customers that allows parts buyers to quickly connect with AOG (aircraft on ground) parts providers and enables buyers to fulfill AOG parts procurement end-to-end, including shipping and payments that will be released shortly after launch. This unique feature works like a “reverse auction.” The pilot of a grounded aircraft, away from its home base, can call his or her service manager, who will use APN's “AOG” capabilities to broadcast the needed part to potential sellers. These sellers will have one hour to confirm having the needed part in stock, ready to ship, and respond with total cost (part + shipping). The service manager will choose the “winning” offer and the process of shipping begins. The APN platform will track the entire transaction.

“This is just one example of how the AeroParts Now platform will offer unprecedented transaction potential, improving issues that have plagued parts sourcing,” Helka explains.

Finally, APN has a growing portfolio of commercial-minded integrations, including shipping and payments, ensuring that buyers and sellers have all the tools necessary to transact from start to finish.

Refining an online marketplace APN has partnered with Multi Service Technology Solutions (MSTS), a wholly-owned subsidiary of World Fuel Services to integrate MSTS's PayViate gateway, making AVCARD, the world's leading aviation charge card, the preferred payment option on APN. APN also accepts VISA, Mastercard, American Express and other bankcards.

“We have significantly lowered the bar for entry into online sales of aircraft parts, while establishing an equitable marketplace with price transparency and ensured completion of transactions. We expect to transform the aviation marketplace and intend to quickly grow the AeroParts Now brand and platform,” Busch said.