Global Aircraft Leasing Market Size 2024, Forecast To 2033
6 Mar, 2024
The aircraft leasing market size has witnessed significant growth in recent years. It will surge from $178.31 billion in 2023 to $195.09 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. Growth in the historic period is attributed to aviation globalization, cost-efficiency, market deregulation, financial benefits for airlines, and the emergence of low-cost carriers. Forecasts indicate continued strong growth, with the market expected to reach $269.21 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. This growth is driven by emerging markets, airline cost management, economic recovery, sustainable aviation initiatives, and shorter leasing periods. Major trends include fleet modernization, expansion of low-cost carriers, platform innovation, and a shift to operating leases.
Global Aircraft Leasing Market Key Driver
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.
Get A Free Sample Of The Global Aircraft Leasing Market ReportGlobal Aircraft Leasing Market Segments
The aircraft leasing market covered in this report is segmented –
1) By Leasing Type: Wet Leasing, Dry Leasing
2) By Security Type: Asset-Backed Security (ABS), Non-ABS
3) By Aircraft Type: Narrow-body, Wide-body, Other Aircraft Types
By Geography:The regions covered in the aircraft leasing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
Asia-pacific was the largest region in the aircraft leasing market in 2023. North America is expected to be the fastest-growing region in the global aircraft leasing market duirng the forecast period. The regions covered in the aircraft leasing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Aircraft Leasing Industry Players
AerCap Holdings N.V., Air Lease Corporation, BOC Aviation Limited, Aviation Capital Group LLC, BBAM LLC, GE Capital Aviation Services LLC, CIT Group, International Lease Finance Corporation, Dubai Aerospace Enterprise Ltd., Nordic Aviation Capital A/S, Avolon Holdings Limited, Industrial and Commercial Bank of China Limited, Sumitomo Mitsui Finance and Leasing Company Limited, Air France KLM, Lease Corporation International, Vista Global Holding Limited, Chapman Freeborn Holdings Ltd., SMBC Aviation Capital, CDB Aviation, Aircastle Ltd., Macquarie AirFinance Ltd., Aergo Capital Ltd., Apollo Aviation Group, Castlelake LP, Carlyle Aviation Partners Ltd., Falko Regional Aircraft Limited, Goshawk Aviation Limited, Jackson Square Aviation Limited, Mitsubishi UFJ Lease & Finance Company Limited, ORIX Aviation, Seraph Aviation Management Limited, SkyWorks Capital LLC, Altavair LP
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Aircraft Leasing Market Overview
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.
Aircraft Leasing Global Market Report 2023 provides data on the global aircraft leasing market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The aircraft leasing market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.