Aviation Asset Management Market to Reach $199.4 Billion by 2033, Expanding at a 5.2%

According to a new report published by Allied Market Research, titled, "Aviation Asset Management Market,by Aircraft Type (Wide-Body Aircraft, Narrow-Body Aircraft, Private Jets, and Helicopter), Service Type (Leasing Services, Technical Service, Regulatory Certification, and End-to-End), End-Use (Commercial Platforms, and MRO), and Purchase Type (Direct Purchase, Operating Lease, Finance Lease, and Sales and Lease Back): Global Opportunity Analysis and Industry Forecast, 2023-2032." The aviation asset management market was valued at $122.53 billion in 2022, and is estimated to garner $204.1 billion by 2032, growing at a CAGR of 5.5% from 2023 to 2032.

To accelerate asset management procedures, the aviation sector is progressively utilizing digital technologies and data analytics. Predictive maintenance, real-time monitoring, and data-driven decision-making are made possible by technologies like IoT sensors, artificial intelligence, and machine learning, which improve asset performance and operational efficiency. Furthermore, the development of sustainable aviation techniques is being driven by regulatory pressures and growing environmental concerns. aviation asset management industry are putting more of an emphasis on eco-friendly operations, green technologies, and carbon footprint reduction tactics in order to meet environmental standards and line with sustainability goals.

MRO segment attained the highest market share in 2022 in the aviation asset management market share. This is attributed to the fact that MRO market is international in scope, with suppliers operating in various countries and catering to clients all over the world. MRO services that can support their worldwide operations are necessary as airlines and operators grow their fleets and conduct business overseas. Well-positioned to service this demand are well-established MRO companies with a robust network of facilities and a strong market presence. In addition, the complexity of maintenance requirements has increased due to technological breakthroughs in aircraft systems, materials, and components. To remain up to date with these developments and offer top-notch maintenance services, MRO providers make investments in cutting-edge tools, technologies, and methods. Predictive maintenance, data analytics, and automation are examples of innovative MRO procedures that increase efficiency and dependability and raise demand for MRO services.

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.

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.

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.

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.

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.

Key players operating in the global aviation asset management market include aercap, AerData B.V., Airbus Services, avolon, BBAM US LP, Boeing, GA Telesis L.L.C, General Electric Company, Lufthansa Technik AG, and MTU Aero Engines AG. They have adopted strategies such as contracts, agreements, acquisition, product launch, and others to improve their market positioning.

Key Findings of the Study:

➢ On the basis of aircraft type, the wide-body aircraft segment is anticipated to exhibit significant growth in the near future.
➢ On the basis of service type, the leasing service segment is anticipated to exhibit significant growth in future.
➢ On the basis of end-use, the MRO segment is anticipated to exhibit significant growth in future.
➢ On the basis of purchase type, the finance lease segment is anticipated to exhibit significant growth in future.
➢ On the basis of region, the North America is anticipated to exhibit significant growth in future.

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This release was published on openPR.