Is anyone familiar with this standard? AS9003
Published by SAE - Society for Automotive Engineers, AS9003 is based on ISO 9001:1994 and adds specific requirements for the outsourced inspection and test quality system providers. AS9003 has less stringent requirements compared to AS9100 due to the scaled back nature of operations of such organizations.

Is anyone familiar with this standard?

AS9003 is titled "Inspection and Test Quality System" and was put together by G-14 American Quality Group (AAQG). The scope of this document contains the minimum requirements for supplier Inspection and Test Quality System. It is emphasized that the quality system requirements specified in this standard are complementary (not alternative) to the contractual and applicable law and regulatory requirement.

AS9003 applies primarily to aerospace subcontractors that receive outsourced requirements from the aerospace primes. AS9003 adds specific aerospace requirements for inspection and test quality systems to (Wrong: ISO 9001) (Corrected: Obsolete ISO 9003:1994) from which it was derived. The companies represented in the task group for the standard include: Boeing, Rolls Royce, Vought, Cessna and Honeywell.

The AS9003 certification allows suppliers to continue to support the important subcontractor segment of the aerospace industry. Source: NAQ-USA

AS9003 applies primarily to aerospace subcontractors that receive outsourced requirements from the aerospace primes. AS9003 adds specific aerospace requirements for inspection and test quality systems to ISO 9001 from which it was derived. The companies represented in the task group for the standard include: Boeing, Rolls Royce, Vought, Cessna and Honeywell.

The AS9003 certification allows suppliers to continue to support the important subcontractor segment of the aerospace industry. Source: NAQ-USA
I disagree with your source. AS9003 was not derived from ISO 9001, but the old ISO 9003:1994. There is another thread going on this subject and there is a lot of discussion about the future of AS9003. Some very influential people in Aerospace Quality object to the idea that this industry would allow and promote a standard that is "less than ISO 9001".

To my knowledge, the two organizations flowing down AS9003 are Lockheed Martin and NASA. I had heard that Boeing was going to drop it from their D6 document.

One more point: The title of this thread is misleading. AS9003 is NOT for outsourced inspection and test quality system provider requirements....

What should the thread title be?

My suggestion would be


AS9003: An Aerospace Standard Based on Inspection & Test

OK.

Here are some other threads here now that I'm awake and looking:

AS9003 vs. AS9100 - Are the requirements of AS9003 included in AS9100? (http://elsmar.com/Forums/showthread.php?t=10648)
AS9003 and AS9120 - First Accredited Registrars for AS9003 and AS9120 (http://elsmar.com/Forums/showthread.php?t=8609)
ISO 9001:2000 vs SAE AS9003 (http://elsmar.com/Forums/showthread.php?t=7244)

Announced this week during the AAQG meeting being held in Mystic, CT, that a group of people led by NASA and Lockheed Martin will attempt to revise AS9003 and have it published through SAE.

As mentioned before, only NASA and LM are flowing down AS9003 to some of their suppliers. The other Aerospace OEMs and Primes are no longer endorsing/supporting AS9003.