Growing aviation industry and decline in the air ticket prices are driving the demand for global aviation asset management market in the forecast period, 2023-2027.
According to TechSci Research report, “Aviation Asset Management Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, the global aviation asset management market is anticipated to witness steady growth in the forecast period, 2023-2027. Factors such as the rise in the focus of commercial airline operators to expand their service offerings to cater to the needs of growing inflight and aerial cargo movement passengers are driving the global aviation asset management market demand. The market players offer end-to-end life cycle management services to different aircraft operators, financial institutes, and leasing companies, allowing the end-users to focus on their core operations. Due to the growing aviation industry, there is an increase in demand for a system that can manage the assets and boost the reliability and profitability of the aviation industry in the long run.
However, the high cost of manufacturing new aircraft and stringent aircraft regulations may restrain the growth of the global aviation asset management market in the forecast period.
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The global aviation asset management market is segmented into segmented into service type, type, end use, regional distribution, and competitive landscape.
Based on service, the market is divided into leasing services, technical services, regulatory certifications. Leasing services are expected to capture the highest market share in the next five years as the large number of companies working in aircraft operations in commercial airspace are looking for ways to outsource their aviation asset management services. Some of the leading leasing services in the aviation asset management market are lease renewal, contract negotiation/renewal, and remarketing.
Based on type, the market is divided into direct purchase, operating lease, finance lease, sale & lease back. The direct lease segment is expected to account for a significant market share in the forecast period as the service providers are offering the system at reasonable rates and multiple features. By purchasing the system, the aviation industry market players can utilize the maximum benefits of the system and lower the maintenance and operating costs of hiring several people for the same work.
Based on end use, the market is bifurcated into commercial platforms and MRO services. Commercial platforms are expected to hold the largest market share in the forecast period. The continuous rise in the air traffic and the increase in efforts by the leading authorities to develop aircraft fleet of their respective countries to boost the economic development is primarily driving the demand for commercial platforms.
Major market players operating in the global aviation asset management market are:
- AerCap Holdings N.V
- Aviation Asset Management Inc
- BBAM Aircraft Leasing & Management
- Acumen Aviation
- AerData (Boeing Company)
- GA Telesis, LLC
- Skyworks Capital, LLC.
- Charles Taylor Aviation (Asset Management) Ltd.
- GE Capital Aviation Services (General Electric Company)
- Airbus Group
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“The Asia-pacific region is expected to be the lucrative market for the global aviation asset management market in the forecast period. The public and private players of developing economies are increasing their investments in developing aviation infrastructure and expanding their aircraft fleet. Such as, the Indian government has lowered the custom duty from 2.5% to 0% on components or parts, engines, and manufacturing of aircraft as the country is aiming to become the third-largest aviation market by 2024. Also, the leading authorities are promoting their travel & tourism industry by introducing supportive policies and allowing foreign direct investments to the developing aviation industry which is expected to propel the growth of the global aviation asset management market till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Aviation Asset Management Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Service Type (Leasing Services, Technical Services, Regulatory Certifications), By Type (Direct Purchase, Operating Lease, Finance Lease, Sale & Lease Back) , By End Use (Commercial Platforms, MRO Services), and By Region”, has evaluated the future growth potential of global aviation asset management market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global aviation asset management market.
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