After several years of turmoil, the engine material sector has been steadily increasing the pace of operations. Albina Lysychonok, Engines Material Sales Manager at Magnetic Trading, shares her insights about the market, signs of recovery, and what mindset lies behind the team's accomplishments.
What is your team currently working on?
Albina Lysychonok: Our team is currently focused on building our stock by purchasing AR, AR/GR or OH material and selling engine material to the engine shops and end users. We also have some repair and investment projects, and we can certainly see that they are worthy of our continuous efforts.
We are constantly monitoring the market condition and its demand for CFM56-3 / -5 / -7 engine parts, and we can anticipate what material might be needed in the market at the nearest time. With a wide range of customers, it is all about providing the best solutions for their requirements by connecting them to our colleagues and offering our in-house services.
How would you describe the current state of the engine material business?
AL: Based on personal observation, the engine material business has been steadily growing from what I have seen for the last six months. Consequently, we can see that increasingly more engine shop visits are taking place, the market is recovering fast, and people want to fly!
It is also worth mentioning that repair shops are bustling these days, and some have workforce shortages. This will likely be solved soon, but the market demand for engine parts and their services is expected to continue expanding in the coming year.
After two years of Covid, this industry uplift makes me genuinely happy on both levels, professionally and personally. I'm already making some predictions for 2023, so I'm excited to see whether and how they will actualize next year.
What do you perceive as the key ingredient for your team's success?
AL: Our Engine Material Trading Team is relatively small but consists of a wide range of professionals. Each team member has their own set of strengths and can always contribute to the rest by providing valuable points of view and suggestions.
We are closely cooperating with the Spare Parts Trading Team and Magnetic Engines Team, which allows us not only to get more leads for both parties but also share knowledge and expertise. There were quite a few positive cases in the past years while working in tandem on different, larger-scope projects.
As a result, we believe it is mutually beneficial for us and our customers, who can discover Magnetic Group as a total service provider. With that said, hard work, great collaboration, and a bit of luck could be described as the foundational ingredients for our success!