Aviation Asset Management Market to Reach $204.1 Billion, Globally, by 2032 at 5.5% CAGR: Allied Market Research
The demand for aircraft is closely linked to the growth of air passenger and cargo traffic. With expanding global economies and a growing middle-class population, the desire for air travel is on the rise, driving increased demand for aircraft.
Wilmington, Delaware, May 08, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, *"Aviation Asset Management Market by Aircraft Type (Wide-Body Aircraft, Narrow-Body Aircraft, Private Jets, and Helicopter), Service Type (Leasing Service, Technical Service, Regulatory Certification, and End-to-End), End-Use (Commercial **Platfroms** and MRO), and Purchase Type (Direct Purchase, Operating Lease, Finance Lease, and Sales and Lease Back): Global Opportunity Analysis and Industry Forecast, 2023-2032"*. According to the report, the *aviation asset management market* was valued at $122.5 billion in 2022, and is estimated to reach $204.1 billion by 2032, growing at a CAGR of 5.5% from 2023 to 2032. *Prime Determinants of Growth*
Growth in air passenger and cargo traffic directly impacts the demand for aircraft. As global economies expand and middle-class populations increase, there is a corresponding rise in demand for air travel. This drives airlines to acquire more aircraft or optimize their existing fleets through leasing or asset management services. Furthermore, airlines continuously seek to expand or modernize their fleets to meet market demand, replace aging aircraft, or enhance operational efficiency. This results in increase in demand for aircraft acquisition, leasing, and asset management services.
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*Report Coverage & Details:*
*Report Coverage** * *Details** *
Forecast Period 2023–2032
Base Year 2022
Market Size in 2022 $122.5 billion
Market Size in 2032 $204.1 billion
CAGR 5.5%
No. of Pages in Report 485
Segments covered Aircraft Type, Service Type, End-Use, Purchase Type, and Region.
Drivers Rise in Demand for Aircraft Leasing
Focus on Cost Optimization
Technological Advancement
Opportunity Sustainable Aviation Initiatives
Restraints High Initial Investment
Regulatory Compliance Challenges
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*Impact of Russia-Ukraine War Scenario*
· Airlines based in Ukraine and Russia may experience disruptions in fleet utilization due to geopolitical instability. This is expected to affect flight routes, frequency, and overall demand for aircraft. Aviation asset managers may need to adapt leasing agreements and asset utilization strategies in response to changing market conditions.
· Geopolitical tensions can create uncertainty in the aviation market, leading to fluctuations in aircraft values, lease rates, and financing terms. Asset managers and investors may exercise caution when making long-term commitments or investments in the region.
*The wide-body **aircraft** segment to **maintain** its leadership status during the forecast period*
On the basis of aircraft type, the wide-body aircraft segment held the highest market share in 2022, accounting for more than one-third of the global aviation asset management market revenue, as wide-body aircraft usually have a higher asset value than narrow-body aircraft owing to their larger size, longer range and higher passenger capacity. As a result, maintaining wide-body aircraft accounts for a sizeable amount of the aviation sector's total asset value, which significantly increases the demand for asset management services. However, the helicopter segment is projected to attain the fastest CAGR of 7.5% from 2023 to 2032, as helicopters have diverse applications across industries such as oil and gas, emergency medical services, law enforcement, tourism, and private transportation. This broad range of uses increases the demand for helicopter assets and related management services.
*The leasing service segment to **maintain** its leadership status during the forecast period*
On the basis of service type, the leasing service segment held the highest market share in 2022, accounting for more than two-thirds of the global aviation asset management market revenue. This be attributed to the fact that leasing preserves liquidity and financial flexibility by enabling airlines and operators to access aircraft without having to make a sizable upfront capital commitment. Through the optimization of lease rates, reduction of maintenance expenses, and enhancement of asset value, asset management services assist lessors in optimizing the financial performance of leased assets, thus boosting overall profitability. However, the regulatory certification segment is projected to attain the fastest CAGR of 9.2% from 2023 to 2032. This is attributed to the fact that aircraft, maintenance facilities, and operational methods may find it challenging and time-consuming to gain regulatory certification. Providing expertise and support to efficiently oversee the certification process, regulatory certification services ensure compliance with all applicable laws and regulations. This covers support with paperwork preparation, audits, regulatory relations, and compliance monitoring.
*The MRO segment to **maintain** its leadership status during the forecast period*
On the basis of end-use, the MRO segment held the highest market share in 2022, accounting for more than four-fifths of the global aviation asset management market revenue and is estimated to maintain its leadership status during the forecast period. This be attributed to the fact that ensuring the safety, airworthiness, and operational reliability of airplanes throughout their lives is dependent upon maintenance. Maintaining an aircraft's airworthiness and guaranteeing regulatory compliance involve a variety of operations, which are all included in MRO services. Such activities include planned maintenance, unscheduled repairs, component overhauls, and modifications. However, the commercial platforms segment is projected to attin the fastest CAGR of 10.4% from 2023 to 2032. This is attributed to the fact that a wide range of aviation asset management functions, including as inventory management, leasing management, aircraft records management, maintenance tracking, and regulatory compliance, are covered by integrated solutions provided by commercial platforms. These all-inclusive solutions give aviation stakeholders a one-stop shop to manage their assets more efficiently, which encourages a rise in the use of commercial platforms.
*The finance lease segment to **maintain** its leadership status during the forecast period*
On the basis of purchase type, the finance lease segment held the highest market share in 2022, accounting for more than two-fifths of the global aviation asset management market revenue as finance leasing offers airlines and operators a cost-effective alternative to purchasing aircraft outright. It allows them to acquire aircraft with minimal upfront capital investment, spreading the cost over the lease term. However, the direct purchase segment is projected to attain the fastest CAGR of 8.4% from 2023 to 2032 as direct purchase gives airlines and operators full ownership and control of aircraft assets, allowing them to customize aircraft specifications, configurations, and operational use according to their specific needs and strategies.
*North America to **maintain** its dominance by 2032*
On the basis of region, North America held the highest market share in terms of revenue in 2022, accounting for more than one-fourth of the global aviation asset management market revenue. This is attributed to the fact that North America is residence to a sizable and varied fleet of private and business jets in addition to regional, wide-body, and narrow-body commercial aircraft. There is a significant need for asset management services, such as leasing, MRO, technical consulting, and regulatory compliance services, due to the large size and diversity of the fleet. However, the Asia-Pacific is expected to witness the fastest CAGR of 8.0% from 2023 to 2032. This growth is attributed to the fact that Asia-Pacific region is experiencing rapid economic growth, driving air travel demand and expansion of the aviation industry. As economies in the region continue to develop, there is a growing need for aviation asset management services to support the acquisition, operation, and maintenance of aircraft fleets.
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*Leading Market Players:*
· aercap
· AerData B.V.
· Airbus Services
· avolon
· BBAM US LP
· Boeing
· GA Telesis L.L.C
· General Electric Company
· Lufthansa Technik AG
· MTU Aero Engines AG
The report provides a detailed analysis of these key players of the global Aviation asset management market. These players have adopted different strategies such as expansion and product launch to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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