Aircraft Leasing Market is growing at CAGR of 6.78% by 2023

Market Highlights:

The global aircraft leasing market is very dynamic and is expected to witness significant growth, during the forecast period. The major driving factors that have boosted the global market are dominance of Irish and Chinese companies, air passenger traffic growth, and rising demand for wet leasing. Due to the increase in air-passenger traffic, the major trend in the global market is shifting of global lessors into the emerging regions like the Asia Pacific. In addition, over the next 20 years, the global air passenger traffic is expected to grow by 4.9%. According to IATA (International Air Transport Association), the global airline trade body, the air travel demand is expected to double, over the next 15 years and more air-passenger traffic is expected to come from the emerging regions such as APAC and South America. Consequently, this has shown a promising picture for the aircraft leasing companies, and as per the research it has been projected that these companies will increase their market penetration.

However, there are some other factors that hinder the market growth. Some of them are the complicated and unclear leasing regulations, taxation policies, and asset recovery risks associated with airline bankruptcy. Asset recovery risk, in particular, is one of the major restraints for the global market. In the global market, very few airline companies run on a good profit margin, but a large number of companies either run on breakeven point or in losses. This creates a major challenge for the lessors to recover its funds or aircraft from the lessee. Over the last few years, the airline companies have not been generating sufficient amount of money, due to their existing loans and economic ups and downs. As a result, the chances of bankruptcy is very high. Therefore, this creates a major restraint for the lessors and for the market growth.

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Industry/ Innovation/ Related News:

February, 2018:- Aeroflot planned on signing a lease agreement with Rostec, for the purchase of50 MC-21-300 aircraft, worth over USD 5 billion. It was also reported that the aircraft would be integrated with 16 business class and 153 economy class seats.
January, 2018:- Oman Air had a lease agreement with Boeing in October 2015, for the delivery of 30 Boeing 737 MAX aircraft. The airline company received its first aircraft from Boeing, in January 2018.

November, 2017:- Air Transport Services Group, Inc. signed a lease agreement with Air Incheon for the delivery of one Boeing 767-300 converted freighter aircraft along with an option for a second. The aircraft deliveries are expected in 2018.

Major Key Players
The prominent players in the aircraft leasing market include AerCap, Air Lease Corporation, BOC Aviation, GECAS, BBAM, CIT Commercial Air, Aviation Capital Group, Boeing Capital Corporation, SAAB Aircraft Leasing, International Lease Finance Corporation and among others.

Aircraft Leasing Market – Competitive Analysis
The global aircraft leasing market is fragmented as a result of the presence of a large number of vendors. The market is characterized by the presence of well-diversified international and small and medium-sized vendors. The competitive environment in this market is expected to intensify with the increase in product extensions, technological innovations, and increase in the number of mergers and acquisitions. It is expected that international players may grow organically during the forecast period by acquiring smaller players. As of 2016, the companies such as GE Capital Aviation Services, AerCap Holdings N.V., and BBAM Aircraft Leasing & Management comprised of nearly 40% of the global market share.

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Regional Analysis
The Asia Pacific region has always been a very prominent market in the aviation industry as it contributes to the world’s largest region by population and consumes the largest percentage of air traffic. Owing to the presence of the world’s busiest airports such as Beijing, Singapore, and New Delhi, a large number of prominent leasing companies have shifted their focus to the APAC region for future investments. As per the data of IATA and ACI, the air traffic in Asia is expected to grow by 6%, annually. In order to meet this growing demand, there will be a substantial need for aircraft financing, leasing, and investments, which would result in the market growing at a substantial rate.

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