Aircraft Leasing Global Market Report 2023
Major players in the aircraft leasing market are AerCap Holdings N.V., Air Lease Corporation, BOC Aviation Limited, Aviation Capital Group LLC, BBAM LLC, GE Capital Aviation Services LLC, BBAM Aviation Services Limited, CIT Aerospace International, International Lease Finance Corporation, Dubai Aerospace Enterprise Ltd.
New York, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Aircraft Leasing Global Market Report 2023" - https://www.reportlinker.com/p06479926/?utm_source=GNW
, Nordic Aviation Capital A/S, Avolon Holdings Limited, CIT Aerospace Inc., Industrial and Commercial Bank of China Limited, and Sumitomo Mitsui Finance and Leasing Company Limited.
The global aircraft leasing market is expected to grow from $162.50 billion in 2022 to $178.31 billion in 2023 at a compound annual growth rate (CAGR) of 9.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The aircraft leasing market is expected to reach $247.4 billion in 2027 at a CAGR of 8.5%.
The aircraft leasing market includes revenues earned by entities by providing aircraft leasing services such as operating lease and finance lease and damp leasing.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Aircraft leasing refers to a contractual agreement between two parties, the lessor and the lessee, where the lessor provides an airplane to the lessee for a specific duration of time, in return of pay periodic rentals or lease payments. Airlines often opt for aircraft leasing as it is a cost-effective way to expand their fleet or replace older planes without incurring the full cost of purchasing new ones.
Asia-pacific was the largest region in the aircraft leasing market in 2022.North America is expected to be the fastest-growing region in the forecast period.
The regions covered in aircraft leasing report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of aircraft leasing are Wet Leasing and dry leasing.A narrow-body aircraft refers to a type of aircraft that typically has a single aisle with seats on either side.
Narrow body aircraft, which are typically used for short to medium-haul flights, are a popular choice for aircraft leasing. The various security types in the aircraft leasing include asset-backed security (ABS) and non-ABS that are applied in narrow-body, wide-body, and others.
The increasing demand for air travel is expected to propel the growth of the aircraft leasing market going forward.Air travel refers to transportation by air, typically in an airplane or helicopter.
It involves using air transportation services to move from one location to another, either domestically or internationally.Aircraft leasing is a practice employed in the air travel industry where airlines lease aircraft from leasing companies instead of purchasing them outright.
Leasing provides airlines with the flexibility to meet changing demand, expand or contract their fleet, and avoid the large upfront capital costs associated with purchasing aircraft. For instance, in February 2023, according to International Air Transport Association (IATA), the Canada-based trade association representing over 290 airlines worldwide, in December 2022, the global total traffic increased by 39.7% compared to December 2021. Further, European carriers saw a surge in demand of 46.5% during the same period. Therefore, the increasing demand for air travel is driving the growth of the aircraft leasing market.
The advancement of technologies is a key trend gaining popularity in the aircraft leasing market.Major companies operating in the aircraft leasing market are developing advanced analytics platforms to sustain their position in the market.
For instance, in April 2023, LEASEWORKS, a US-based company that provides a cloud-based software solution for aircraft leasing and asset management launched LeaseWorks Utilization Tracker, a utilization records software for lessors.The Aeris MATCH software ecosystem incorporates the tracker, which streamlines the collection of usage records from airlines operating across multiple regions and asset groups.
Lessors can assure compliance by scrutinizing and auditing airline utilization data, comparing aircraft usage patterns to the fleet and regional trends, and tracking aircraft movements by country or city.
In October 2021, SMBC Aviation Capital, an Ireland-based aircraft leasing company acquired Goshawk Management Ltd for $6.7 billion. Through this acquisition, SMBC Aviation Capital made a strategic and complementary move that expanded its ability to provide a diverse range of innovative solutions to its customers. The acquisition also facilitated the sector’s transition to newer technology aircraft. Goshawk Management Ltd. is an Ireland-based company that provides aircraft leasing services.
The countries covered in the aircraft leasing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The aircraft leasing software market research report is one of a series of new reports that provides aircraft leasing software market statistics, including aircraft leasing software industry global market size, regional shares, competitors with an aircraft leasing software market share, detailed aircraft leasing software market segments, market trends and opportunities, and any further data you may need to thrive in the aircraft leasing software industry. This aircraft leasing software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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