Depends what you mean by the word. Back when the volkish movements started using that word in the 1930s, no one really knew where the Europeans had come from or what their origin was. One of the theories was that they had come from somewhere around Iran and that the proto-iranic people (like the Scythians) were the original Europeans. So they borrowed the Iranian native term for themselves (Aryan) and started using that. Following world war 2 the idea that europeans had a common origin in Asia became (((unfashionable))) and the term Aryan got dropped in academic circles. Of course later in the 80s and 90s when genetic testing became available it was hard to deny the truth. Academics needed a term to refer to these people who colonised Europe, but Aryan was politically loaded and inaccurate, so they started calling them PIE (proto-indo-europeans). Nowadays they're likely to be called "Yamna" or "Yamnaya" after one of the earliest known sites where PIE culture and remains can be found.