Market Overview

Aircraft Leasing Market Size to Soar to $62,221.8 Mn by 2023 at 4.75% CAGR | Global Aircraft Leasing Industry to Continue its Growth in a Vertical Manner


Pune, Sept. 05, 2018 (GLOBE NEWSWIRE) -- Market Research Future's in-depth market study on the Global Aircraft Leasing Market Information Report, By Aircraft Type (Wide Body and Narrow Body), By Lease Type (Dry Leasing and Wet Leasing) and By Region - Forecast To 2023

Aircraft Leasing Market

Air travel has considerably made it easier to travel to far-flung and exotic destinations. The construction of new airports and the taste for travel has induced the demand for new airplanes. Major airlines are hesitant to acquire new airplanes owing to the volatile nature of economies. But aircraft leasing companies have stepped forward to address this need by providing all the regular services to airlines.

Aircraft leasing companies lease their airplanes to airline operators and private charter owners for a substantial fee. There are two major types of leases – wet and dry. In the wet lease model, the lessor or leasing company provides the airline with a fully functional and trained crew, maintenance, and insurance while charging an hourly rate. The dry lease model dictates that the lessor offer the lessee the aircraft without the crew or facilities. This can save the airline training fees of its personnel, while still churning out a profit.

Growing Air Travelers to Spike up Market Demand

The global aircraft leasing market size is anticipated to touch USD 62,221.8 million by 2023, as per a brand-new market report by Market Research Future (MRFR). It can grow at a 4.75% CAGR from 2017 to 2023 (forecast period). The swelling in air travelers is likely to augur market demand over the forecast period. According to the International Air Transport Association (IATA), this number can touch 7.8 billion by 2036 and airline operators require the services of lessors to keep up with the demand. International and domestic courier companies have also partnered with aircraft leasing companies to complete timely deliveries.

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The recent spate of terrorist attacks has spiked up aircraft leasing market demand dramatically. Upcoming tax regulations and new leasing policies by various countries can slow down the market growth in the coming years. But investments by banks, financial institutions, and the jobs created by the sector is expected to culminate into a bullish growth rate for the aircraft leasing market till the end of the forecast period.

Expansion to New Regions a Prime Strategy

Major lessors operating in the aircraft leasing market comprise AerCap, GECAS, Aviation Capital Group, SAAB Aircraft Leasing, Air Lease Corporation, CIT Commercial Air, International Lease Finance Corporation, Boeing Capital Corporation, BBAM, BOC Aviation, and others. The change in interest rates may lead to selling of shares of divestment of leasing units to reduce overleveraged debts of airline operators. Expansions, partnerships, and collaborations are strategies employed by these players to gain a competitive edge in the market.

In August 2018, Avolon, an Irish firm, has opened up shop in Dublin, Ireland. Although it caters to a large client base spanning over 160 countries, it has decided to return to its roots in Ireland, which is home to various leasing companies. In September 2018, Air Asia has decided to purvey its aircraft leasing division to BBAM Ltd Partnerships for USD 151.5 million. Companies are expanding to new regions such as India and China owing to the growing numbers in the middle class.

Segmentation Analysis

The Aircraft Leasing Market is segmented by lease type and aircraft type. By lease type, it is segmented into dry and wet lease.

Types of aircraft in the market includes narrow body aircraft and wide body aircraft.

Regional Analysis

The aircraft leasing market covers investment opportunities across the following regions – Asia Pacific (APAC), North America, Europe, and Rest-of-the-World (RoW).

The Europe aircraft leasing market can dominate till the end of the forecast period thanks to the presence of various leasing companies and resurgence of economies. Ireland can contribute the maximum to the aircraft leasing market, owing to being home to more than 15 global lessors. The 9/11 incident was the major catalyst in fueling leasing activities to nearly 40% in 2014. Its attractive tax policies and the affordable lease rate offered in addition to maintenance, repair, and overhaul (MRO) services make it a prime destination.

The APAC region was the second-largest after Europe owing to the emergence of various startup firms in China, India, and Malaysia. China has reportedly funded close to USD 261 billion in the aircraft leasing market to capitalize on the growing sector. Competitive tax policies floated by Singapore and Hong Kong are likely to offer tough competition to the Europe market in the coming years. Rising fuel prices are an obstacle faced by these companies but the steadfast growth rates of economies is likely to counter this trend.

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Industry News

AerCap Holdings and Air Lease are upgrading their air fleet to keep up with their commitments. The healthy credit ratings of these firms coupled with the incoming cash flows for operations is likely to keep these firms afloat and the aircraft leasing equipment buoyant in the coming years.

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