The Global Aviation Asset Management market valued at USD 214.43 Billion in 2021 and it is expected to grow to USD 302.6 Billion by 2030 with a CAGR of 5.16% during the forecast period.
Global Aviation Asset Management Market: Overview
Aviation Asset Management ensures an organization’s assets are used in most efficient manner enhancing its profitability. There are a number of benefits of aviation asset management such as saving expenses, increased productivity, increasing asset life, enhancing customer experience, tracking assets & inventories, detailed reports, and effective audits. The concept of aircraft asset management is gaining importance because of increased number of airline passengers.
An aircraft contains nearly two to three million parts. Which requires proper management for smooth operations. Thus, this creates a demand for the aviation asset management market. An increase in the number of air passengers, an increase in air traffic, increased procurement of new aircraft models, and advances in technology are some key drivers of the aviation management market. However stringent government regulations are limiting the growth of the market.
Key Insights
- As per the analysis done by our research analyst, Global Aviation Asset Management is estimated to grow with a CAGR 5.16% over the forecast period (2022-2030).
- In terms of revenue, the Global Aviation Asset Management Market size was valued at USD 214.43 billion in 2021 and is estimated to grow to around USD 302.6 billion in 2030.
- Due to various driving factors, the Aviation Asset Management Market is predicted to grow at a significant rate. The increase in air passengers is a major cause that creates demand for an increased aviation asset management market.
- Based on the Service Type Segmentation, the leasing services segment is projected to register the highest growth during the forecast period.
- Based on Type Segmentation, the Operating lease segment is likely to dominate the market share in the forecast period due to reduction in cost.
- Based on the End User Analysis, The Commercial Platforms are to register significant growth in the forecast period.
- By Regional Analysis, Asia Pacific is to register the highest growth in the forecast period.
COVID-19 Impact:
The change in the behavior of the passengers, the economic crisis that followed after COVID-19 pandemic and government restrictions worldwide overall, decreased the demand for the airline sector. Initially, the operating cost for both airlines and airports increased due to enhanced safety and check-up regulations. This has impacted the aviation asset management market. Airline industry has been hit badly during the pandemic and nearly two-thirds of the airline companies sit idle. These things negatively hamper the growth of the Aviation Asset Management market.
Aviation Asset Management Market: Key Drivers & Restraints:
Driving factors:
- Increase in air passenger traffic: Air passenger traffic refers to the number of passengers that have actually booked a flight. Aviation asset management helps the customer minimizing their complaints and downtime. With the increased air passenger traffic in the post-COVID era, airline companies are focusing on customer satisfaction ensuring cost-effectiveness. Thus, aviation asset management plays a vital role here.
- Government support to the aviation Industry: Aviation is considered by most government as a potential sector linked with economic growth. Thus, the governments constantly, directly or indirectly support several parts of its value chain. This is one the key driving factors behind the growth of the aviation asset management market.
Restraints:
- Strict Government Regulations: One of the key restraints for the aviation asset management market is the regulation of strict government policies for the aviation industry. Asset management companies have to keep a constant check on complying with these regulations to function effectively in the market.
Aviation Asset Management Market: Opportunities
Emergence of new technologies in the aviation asset management market such as IoT enabled devices and services is definitely going to benefit the Aviation Asset Management market. The demand for reduction in the fixed and variable cost is an area of opportunity. Aside from this, the adoption of green initiatives set by various countries and regions is also an opportunity factor.
Aviation Asset Management Market Scope and Segment:
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Attribute
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Details
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Market Size in 2020
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USD 214.43 billion
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Estimated Market Size in 2028
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USD 302.6 billion
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CAGR Growth Rate
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5.16%
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Base Year
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2021
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Forecast Years
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2022-2030.
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Major Regions Covered
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- North America
- Europe
- Asia Pacific
- Latin America
- The Middle East & Africa
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Companies Covered
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- Acumen
- AerData (Boeing Company)
- Airbus Group
- AerCap Holdings
- Aviation Asset Management Inc
- BBAM Aircraft Leasing & Management
- Charles Taylor Aviation (Asset Management) Ltd.
- GE Capital Aviation Services (General Electric Company)
- GA Telesis, LLC
- Skyworks Capital, LLC
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Report Coverage
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Revenue Forecast, Company Share, Competitive Landscape, Growth Factors, Restraints, Opportunities, Value Chain Analysis, Porter’s Five Forces Analysis, Patent Analysis, Market Attractiveness Analysis by Segments
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Aviation Asset Management Market: Segmentation
- Based on Service Types: Based on Service Types, the market is further segmented into leasing service, Technical Service and Regulatory Certifications. Of these, Leasing service is to dominate the market during the forecast period.
- Based Types: The market is further bifurcated into direct purchase, operating lease, finance lease and sale & lease back.
- By End User Analysis: The market is segmented into Commercial and MRO services. The commercial services is to dominate the market during the forecast period.
Regional Insights:
The Aviation Asset Management Market can be differentiated into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In terms of regional analysis, Asia Pacific has registered the dominant share of the market.
Competitive Analysis:
The Aviation Asset Management market is driven by Acumen, AerData (Boeing Company), Airbus Group, AerCap Holdings N.V, Aviation Asset Management Inc, BBAM Aircraft Leasing & Management, Charles Taylor Aviation (Asset Management) Ltd., GE Capital Aviation Services (General Electric Company), GA Telesis, LLC, Skyworks Capital, LLC. During the forecast period.
Recent Developments:
- Airbus, a prominent player in the aviation asset management market, has announced a partnership with Air Liquide and VINCI Airports to promote the application of hydrogen and contribute to the decarbonization of the aviation sector
Key segments
By Service Types
- Leasing Service
- Technical Service
- Regulatory Certifications
By Types
- Direct Purchase
- Operating Lease
- Finance Lease
- Sale & Lease Back
By End User
- Commercial Platforms
- MRO service
Frequently Asked Questions (FAQs):
Which is the leading segment in the market?
Among Service Types, the Leasing services segment is leading in the market.
What are the key factors driving the market?
Increase in air passengers, air traffic, government support to airline industry are some of the key drivers.
Which region will contribute notably towards the Aviation Asset Management growth?
Asia Pacific will contribute notably towards the growth of Aviation Asset Management market.
What are the key players in Aviation Asset Management Company?
- Acumen
- AerData (Boeing Company)
- Airbus Group
- AerCap Holdings
- Aviation Asset Management Inc
- BBAM Aircraft Leasing & Management
- Charles Taylor Aviation (Asset Management) Ltd.
- GE Capital Aviation Services (General Electric Company)
- GA Telesis, LLC
- Skyworks Capital, LLC