Aircraft Leasing Market – Market Overview
The global aircraft leasing market is a very dynamic and is expected to witness significant growth over the forecast period. The major factors supporting the growth of the global aircraft leasing market are dominance of Irish and Chinese companies, air passenger traffic growth, rising demand for wet leasing and others. However, the major trend in the global market is shifting of global lessors into the emerging regions such as Asia Pacific. On the other hand, the complicated and unclear leasing regulations and taxation policies and asset recovery risk associated with airline bankruptcy are major hindrances to the global market growth.
The aircraft leasing industry is one of the most recognized industries in Ireland over the past four decades. In the recent years, the leasing activities on aircraft have increased from 2% in 1980 to more than 50% in 2016. This has shown that there is complete dominance of Irish leasing company over the global market. Ireland has established itself as a global hub for aircraft leasing with more than 50% of the total market and 14 out of 15 global lessors operate from Ireland. After 9/11 attacks, the aircraft leasing activities have substantially increased from 25% in 2001 to 40% in 2014.
Key Players:
The leading market players in the global aircraft leasing market are AerCap Holdings N.V., Air Lease Corporation, BOC Aviation, GE Capital Aviation Services, BBAM Aircraft Leasing & Management, Aviation Capital Group, Boeing Capital Corporation, SMBC Aviation Capital, Avolon, and ICBC Leasing.
Aircraft Leasing Market – Competitive Analysis
The global aircraft leasing market is characterized by the presence of many global, regional, and local vendors. The market is highly competitive with all the players competing to gain the maximum market share. Intense competition, rapid advances in technology, frequent changes in government policies, and environmental regulations are key factors that confront the market growth. In addition, in-house manufacturing capabilities, global footprint network, product offerings, R&D investments, and a strong client base have become the key areas to have the edge over the competitors.
The vendors compete based on cost, product quality, reliability, and aftermarket service. It is crucial for the vendors to provide advanced and high-quality aircraft so as to survive and succeed in an intensely competitive market environment.
Industry/ Innovation/ Related News:
August, 2017:- Air Lease Corporation announced to have a long term lease agreement with Aeromexico for one additional new Boeing 787-9 aircraft with General Electric engines. This aircraft is expected to deliver in June 2018. The reason behind this agreement is that to develop the modern fleet to support companies expanding global operations and their alliance with Delta and other Airlines.
July, 2017 - BOC Aviation announced the opening of a new office in New York City, after Dublin, London and Tianjin. The reason behind this expansion is that the company is expanding and building its presence in North America region.
June, 2017:- AerCap Holdings and the Italian carrier Neos announced the signing of a lease agreement with for two Boeing 737 MAX aircraft. Neos will become the country's first 737 MAX operator when it takes delivery of the airplane in 2019.
May, 2017:- Aviation Capital Group announced that it signed a long-term lease agreements with EL AL Israel Airlines. Under this agreement the company will lease for two new B787-9s aircraft from ACG’s order book commitment with Boeing and two new B787-8s on a sale and lease-back agreement. The first aircraft is expected to deliver in February 2018.
Aircraft Leasing Market – Segments
For the convenience of the report and enhanced understanding, the aircraft leasing market is segmented based on:
Leasing Type: Wet Leasing and Dry Leasing.
Aircraft Type: Narrow-body and Wide-body Aircraft.
Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World (RoW).
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