Covina, Calif., May 9, 2023 /PRNewswire/ — According to Prophecy Market Insights Aircraft Leasing Market accounted for US$ 302.3 billion in 2020 and is estimated to be US$ 623.51 billion by 2030 and is anticipated to register a CAGR of 7.50%
What is the market overview for Aircraft Leasing Market?
Aircraft leasing is the legal agreement between lessor and lessee in which, lessor agrees to provide airplane to lessee for a specific period of time in exchange of regular payment. As planes are expensive mostly airlines opt to lease their aircraft from aircraft lessor.
Rising travel & tourism, high disposable income and growing international tourist travel has given positive impact on market growth. Wide benefits such as tax advantage, quickly meeting urgent needs during increased demand for some routes is likely to fuel Aircraft Leasing market growth.
Aircraft Leasing Market, By Leasing Type (Wet Leasing (Aircraft, Crew, Maintenance and Insurance) and Dry Leasing) By Aircraft Type (Narrow-body, Wide-body and others), By Security Type (Asset-Backed Security (ABS) and Non-ABS) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Market Trends, Analysis, and Forecast till 2030
What are the Recent Key Highlights in the Aircraft Leasing Market?
- In June 2022, Saudi Arabia’s PIF (Public Investment Fund) launched an aircraft leasing company “AviLease” which will focus on scaling via, portfolio acquisitions, purchase and lease back transactions with airlines and direct orders from aircraft manufacturing companies.
- In 2019, Air Lease Corporation, announced long-term lease agreements with Vietnam Airlines for two new Airbus A320-200neo aircraft. The two new A320-200neos are scheduled to deliver to the airline in Fall 2020 from ALC’s order book with Airbus.
- In 2019, BBAM entities to buy AirAsia’s Aircraft Leasing Portfolio. AirAsia has chosen to sell the aircraft portfolio of its Asia Aviation Capital unit to entities managed by BBAM in a $1.18 billion deal.
Analyst View:
Growing international travel trips due to employment opportunities, holiday destination and growing economic status has propelled market growth. Growing advancement in airport infrastructure in developing regions and government initiative in improving regulatory framework is expected to foster the demand for Aircraft Leasing market growth in coming years.
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What are the Driver factors contributing to the growth of the Aircraft Leasing Market?
- Emerging markets: The growth of the aviation industry in emerging markets such as Asia, the Middle East, and Latin America has also contributed to the growth of the aircraft leasing market. These markets are experiencing strong demand for air travel, and airlines in these regions are increasingly turning to leasing as a way to expand their fleets.
- Technological advancements: The development of new and more fuel-efficient aircraft is also driving growth in the aircraft leasing market. Airlines are increasingly turning to leasing to access these newer aircraft, which can help them to reduce their operating costs and improve their bottom line.
- Increasing demand for air travel: As air travel continues to grow, airlines are expanding their fleets to meet the demand. Aircraft leasing provides a cost-effective way for airlines to increase their capacity without having to purchase new aircraft outright.
What are the Top Players in Aircraft Leasing Market?
- Aviation Capital Group
- Boeing Capital Corporation
- Air Lease Corporation
- International Lease Finance Corporation
- BOC Aviation
- SAAB Aircraft Leasing
- AerCap
- GE Capital Aviation Services
- CIT Aerospace, Inc.
- BBAM LLC
The Aircraft Leasing Market is a rapidly growing industry, and here are some key insights:
Growing demand: The demand for leased aircraft is increasing due to factors such as globalization, rising air travel, and a need for cost-effective operations.
Cost-effective option: Leasing an aircraft is a cost-effective option for airlines as it allows them to avoid the high capital costs associated with purchasing an aircraft outright.
Fleet modernization: Leasing companies are driving fleet modernization by offering newer, fuel-efficient aircraft to airlines.
Market consolidation: The aircraft leasing market is seeing consolidation as larger players acquire smaller companies to gain a competitive advantage.
Asia-Pacific growth: The Asia-Pacific region is expected to be the fastest-growing market for aircraft leasing due to the increasing demand for air travel and a growing middle class.
Technological advancements: The aircraft leasing market is leveraging technological advancements such as big data, artificial intelligence, and blockchain to improve operational efficiency and customer experience.
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Top 10 Questions answered by Hybrid Fiber Optic Connector Market research report:
- What is the current market size and growth rate?
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- What are the regional and local market conditions and consumer behavior?
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