Aircraft Leasing Market Research Report – Global Trends and Forecast to 2023

Aircraft Leasing Market Research Report – Global Trends and Forecast to 2023

ID: MRFR/AERO/2894-CRR | September, 2017 | Region: Global | 80 pages | Cooked Research Reports

Global Aircraft Leasing Market Information Report, By Aircraft Type (Wide Body and Narrow Body), By Lease Type (Dry Leasing and Wet Leasing) and By Region - Forecast To 2023


Market Scenario


Aircraft leasing is a technique where the airline companies procure the aircraft on lease from leasing airlines companies and other aircraft operators. Over the last few years, several airlines companies have switched to aircraft leasing for their operations to reduce the financial burden and to increase the number of aircrafts. Owing to this, the market for aircraft lessor have grown significantly. Aircraft leasing is mainly of two type: wet leasing and dry leasing. However, wet leasing aircraft are procure for shorter period of time, whereas, dry leasing is used for longer leasing period. The major buyers of the aircraft leasing are the big airlines, financial investors and others. However, these buyers mainly go for the OEMs or from the leasing companies.


The aircraft leasing industry is one of the most recognized industries in Ireland over the past 4 decades. In the recent years, the leasing activities on aircraft has been increased from 2% in 1980 to more than 50% in 2016. This has shown that there is a 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 out of 15 global lessors 14 global lessor operates from Ireland. After 9/11 attacks, the aircraft leasing activities have substantially increased from 25% in 2001 to 40% in 2014. The major reason for this change was that previously the commercial banks were the main source of aircraft financing and after that the other leasing companies have gained a momentum to establish themselves into the aircraft market


As per MRFR analysis, the aircraft leasing market is expected to witness a remarkable growth during the forecast period as several companies are opting for leasing of aircraft. The global aircraft leasing market is expected to reach USD 62,221.8 million by 2023 with a growing CAGR of 4.75%. Major influencing factors that have driven the global aircraft leasing market are the dominance of Irish and Chinese companies. Ireland is one if the major hub for aircraft leasing which has consumed around half of the market share of the global market. As a result, Europe has become the major revenue generator for the global market. Additionally, the rising demand for wet leasing market is also driving the market as several new airlines companies are coming into the market. Subsequently, the execution VAT on aircraft leasing has also boost up the market. On the other hand, the rising pricing of crude oil and complicated and unclear leasing regulations and taxation policies could affect the market growth of aircraft leasing market.


Global Aircraft Leasing Market Size, By Region (USD Million)
Aircraft Leasing Market Size, By Region


Geographically, European region have accounted the largest market for global aircraft leasing market owing to the presence of wide range of leasing companies in Ireland. Moreover, Ireland is the major hub for leasing of aircraft consuming around 50% of the total market. Asia-Pacific is the second and the fastest growing region as several coming are coming into operations in China, India, Indonesia, Malaysia and others.


For the purpose of this study, the global aircraft leasing market has been segmented on the basis of leasing type, aircraft type and regions. On the basis of leasing type, the market has been divided into wet leasing and dry leasing, however, the aircraft type has been divided into wide body aircraft and narrow body aircraft.


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.


The report for Global Aircraft Leasing Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

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TABLE OF CONTENTS

2.1 Definition 13
2.2 Scope of the Study 13
2.3 Assumptions 14
2.4 Market Structure 14

3.1 Research Process 15
3.2 Primary Research 16
3.3 Secondary Research 16
3.4 Market Size Estimation 16
3.5 Forecast Model 18

4.1 Introduction 19
4.2 Market Drivers 20
4.2.1 Dominance Of Irish And Chinese Companies 20
4.2.2 Air Passenger Traffic Growth 21
4.2.3 Rising Demand For Wet Leasing 21
4.3 Market Restraints 21
4.3.1 Complicated And Unclear Leasing Regulations And Taxation Policies 22
4.3.2 Asset recovery risk associated with airline bankruptcy 22
4.4 Trends & Opportunities 22
4.4.1 Shifting of Global Players Into APAC Region 22

5.1 Porter’s Five Forces Analysis 23
5.1.1 Threat of New Entrants 23
5.1.2 Bargaining Power of Buyers 24
5.1.3 Bargaining Power of Supplier 24
5.1.4 Threat from Substitutes 24
5.1.5 Threat of Rivalry 24
5.2 Value Chain Analysis 25

6.1 Introduction 26
6.1.1 Wet Leasing 27
6.1.2 Dry Leasing 27

7.1 Introduction 28
7.1.1 Narrow Body 29
7.1.2 Wide Body 29

8.1 Introduction 30
8.2 North America 31
8.2.1 U.S. 33
8.2.2 Canada 34
8.2.3 Mexico 35
8.3 Europe 36
8.3.1 Germany 38
8.3.2 U.K. 39
8.3.3 Ireland 40
8.3.4 France 41
8.3.5 Rest of Europe 41
8.4 Asia-Pacific 42
8.4.1 China 45
8.4.2 Japan 46
8.4.3 Australia 47
8.4.4 Rest of Asia-Pacific 48
8.5 Rest of the World 49
8.5.1 Middle East & Africa 51
8.5.2 Latin America 52

9.1 Introduction 53
9.2 Agreement 54
9.3 Expansion 55

10.1 AerCap Holdings N.V. 56
10.1.1 Company Overview 56
10.1.2 Products/Services Offering 56
10.1.3 Financial Overview 57
10.1.4 Key Developments 58
10.1.5 SWOT Analysis 59
10.2 Air Lease Corporation 60
10.2.1 Company Overview 60
10.2.2 Products/Services Offering 60
10.2.3 Financial Overview 60
10.2.4 Key Developments 62
10.2.5 SWOT Analysis 63
10.3 BOC Aviation 64
10.3.1 Company Overview 64
10.3.2 Products/Services Offering 64
10.3.3 Financial Overview 64
10.3.4 Key Developments 65
10.4 GE Capital Aviation Services 66
10.4.1 Company Overview 66
10.4.2 Products/Services Offering 66
10.4.3 Financial Overview 66
10.4.4 Key Developments 68
10.4.5 SWOT Analysis 68
10.5 BBAM Aircraft Leasing & Management 69
10.5.1 Company Overview 69
10.5.2 Products/Services Offering 69
10.5.3 Financial Overview 69
10.5.4 Key Developments 70
10.6 Aviation Capital Group 71
10.6.1 Company Overview 71
10.6.2 Products/Services Offering 71
10.6.3 Financial Overview 71
10.6.4 Key Developments 72
10.7 Boeing Capital Corporation 73
10.7.1 Company Overview 73
10.7.2 Products/Services Offering 73
10.7.3 Financial Overview 73
10.7.4 Key Development 74
10.7.5 SWOT Analysis 74
10.8 SMBC Aviation Capital 75
10.8.1 Company Overview 75
10.8.2 Products/Services Offering 75
10.8.3 Financial Overview 75
10.8.4 Key Developments 76
10.9 Avolon 77
10.9.1 Company Overview 77
10.9.2 Products/Services Offering 77
10.9.3 Financial Overview 77
10.9.4 Key Developments 77
10.10 ICBC Leasing 78
10.10.1 Company Overview 78
10.10.2 Products/Services Offering 78
10.10.3 Financial Overview 79
10.10.4 Key Developments 79

TABLE 1 GLOBAL AIRCRAFT LEASING MARKET, BY LEASING TYPE, 2015-2023 (USD MILLION) 27
TABLE 2 GLOBAL AIRCRAFT LEASING MARKET, BY AIRCRAFT TYPE, 2015-2023 (USD MILLION) 29
TABLE 3 GLOBAL AIRCRAFT LEASING MARKET, BY REGION, 2015-2023 (USD MILLION) 31
TABLE 4 NORTH AMERICA AIRCRAFT LEASING MARKET BY COUNTRY, 2015-2023 (USD MILLION) 32
TABLE 5 NORTH AMERICA AIRCRAFT LEASING MARKET BY LEASING TYPE, 2015-2023 (USD MILLION) 32
TABLE 6 NORTH AMERICA AIRCRAFT LEASING MARKET BY AIRCRAFT TYPE, 2015-2023 (USD MILLION) 33
TABLE 7 U.S. AIRCRAFT LEASING MARKET, BY LEASING TYPE, 2015-2023 (USD MILLION) 33
TABLE 8 U.S. AIRCRAFT LEASING MARKET, BY AIRCRAFT TYPE, 2015-2023 (USD MILLION) 34
TABLE 9 CANADA AIRCRAFT LEASING MARKET, BY LEASING TYPE, 2015-2023 (USD MILLION) 34
TABLE 10 CANADA AIRCRAFT LEASING MARKET, BY AIRCRAFT TYPE, 2015-2023 (USD MILLION) 34
TABLE 11 MEXICO AIRCRAFT LEASING MARKET, BY LEASING TYPE, 2015-2023 (USD MILLION) 35
TABLE 12 MEXICO AIRCRAFT LEASING MARKET, BY AIRCRAFT TYPE, 2015-2023 (USD MILLION) 35
TABLE 13 EUROPE AIRCRAFT LEASING MARKET BY COUNTRY, 2015-2023 (USD MILLION) 37
TABLE 14 EUROPE AIRCRAFT LEASING MARKET BY LEASING TYPE, 2015-2023 (USD MILLION) 37
TABLE 15 EUROPE AIRCRAFT LEASING MARKET BY AIRCRAFT TYPE, 2015-2023 (USD MILLION) 38
TABLE 16 GERMANY AIRCRAFT LEASING MARKET, BY LEASING TYPE, 2015-2023 (USD MILLION) 38
TABLE 17 GERMANY AIRCRAFT LEASING MARKET, BY AIRCRAFT TYPE, 2015-2023 (USD MILLION) 39
TABLE 18 U.K. AIRCRAFT LEASING MARKET, BY LEASING TYPE, 2015-2023 (USD MILLION) 39
TABLE 19 U.K. AIRCRAFT LEASING MARKET, BY AIRCRAFT TYPE, 2015-2023 (USD MILLION) 39
TABLE 20 IRELAND AIRCRAFT LEASING MARKET, BY LEASING TYPE, 2015-2023 (USD MILLION) 40
TABLE 21 IRELAND AIRCRAFT LEASING MARKET, BY AIRCRAFT TYPE, 2015-2023 (USD MILLION) 40
TABLE 22 FRANCE AIRCRAFT LEASING MARKET, BY LEASING TYPE, 2015-2023 (USD MILLION) 41
TABLE 23 FRANCE AIRCRAFT LEASING MARKET, BY AIRCRAFT TYPE, 2015-2023 (USD MILLION) 41
TABLE 24 REST OF EUROPE AIRCRAFT LEASING MARKET, BY LEASING TYPE, 2015-2023 (USD MILLION) 41
TABLE 25 REST OF EUROPE AIRCRAFT LEASING MARKET, BY AIRCRAFT TYPE, 2015-2023 (USD MILLION) 42
TABLE 26 ASIA-PACIFIC AIRCRAFT LEASING MARKET BY COUNTRY, 2015-2023 (USD MILLION) 44
TABLE 27 ASIA-PACIFIC AIRCRAFT LEASING MARKET BY LEASING TYPE, 2015-2023 (USD MILLION) 44
TABLE 28 ASIA-PACIFIC AIRCRAFT LEASING MARKET BY AIRCRAFT TYPE, 2015-2023 (USD MILLION) 44
TABLE 29 CHINA AIRCRAFT LEASING MARKET, BY LEASING TYPE, 2015-2023 (USD MILLION) 45
TABLE 30 CHINA AIRCRAFT LEASING MARKET, BY AIRCRAFT TYPE, 2015-2023 (USD MILLION) 45
TABLE 31 JAPAN AIRCRAFT LEASING MARKET, BY LEASING TYPE, 2015-2023 (USD MILLION) 46
TABLE 32 JAPAN AIRCRAFT LEASING MARKET, BY AIRCRAFT TYPE, 2015-2023 (USD MILLION) 46
TABLE 33 AUSTRALIA AIRCRAFT LEASING MARKET, BY LEASING TYPE, 2015-2023 (USD MILLION) 47
TABLE 34 AUSTRALIA AIRCRAFT LEASING MARKET, BY AIRCRAFT TYPE, 2015-2023 (USD MILLION) 47
TABLE 35 REST OF ASIA-PACIFIC AIRCRAFT LEASING MARKET, BY LEASING TYPE, 2015-2023 (USD MILLION) 48
TABLE 36 REST OF ASIA-PACIFIC AIRCRAFT LEASING MARKET, BY AIRCRAFT TYPE, 2015-2023 (USD MILLION) 48
TABLE 37 REST OF THE WORLD AIRCRAFT LEASING MARKET BY COUNTRY, 2015-2023 (USD MILLION) 50
TABLE 38 REST OF THE WORLD AIRCRAFT LEASING MARKET BY LEASING TYPE, 2015-2023 (USD MILLION) 50
TABLE 39 REST OF THE WORLD AIRCRAFT LEASING MARKET BY AIRCRAFT TYPE, 2015-2023 (USD MILLION) 50
TABLE 40 MIDDLE EAST & AFRICA AIRCRAFT LEASING MARKET, BY LEASING TYPE, 2015-2023 (USD MILLION) 51
TABLE 41 MIDDLE EAST & AFRICA AIRCRAFT LEASING MARKET, BY AIRCRAFT TYPE, 2015-2023 (USD MILLION) 51
TABLE 42 LATIN AMERICA AIRCRAFT LEASING MARKET, BY LEASING TYPE, 2015-2023 (USD MILLION) 52
TABLE 43 LATIN AMERICA AIRCRAFT LEASING MARKET, BY AIRCRAFT TYPE, 2015-2023 (USD MILLION) 52

FIGURE 1 RESEARCH PROCESS OF MRFR 15
FIGURE 2 TOP DOWN & BOTTOM UP APPROACH 17
FIGURE 3 MARKET DYNAMICS 19
FIGURE 4 IMPACT ANALYSIS: MARKET DRIVERS 20
FIGURE 5 IMPACT ANALYSIS: MARKET RESTRAINTS 21
FIGURE 6 PORTER’S FIVE FORCES ANALYSIS 23
FIGURE 7 VALUE CHAIN ANALYSIS 25
FIGURE 8 GLOBAL AIRCRAFT LEASING MARKET SHARE, BY LEASING TYPE, 2016 (%) 26
FIGURE 9 GLOBAL AIRCRAFT LEASING MARKET, BY LEASING TYPE, 2015-2023 (USD MILLION) 26
FIGURE 10 GLOBAL AIRCRAFT LEASING MARKET SHARE, BY AIRCRAFT TYPE, 2016 (%) 28
FIGURE 11 GLOBAL AIRCRAFT LEASING MARKET, BY AIRCRAFT TYPE, 2015-2023 (USD MILLION) 28
FIGURE 12 GLOBAL AIRCRAFT LEASING MARKET SHARE (%), BY REGION, 2016 30
FIGURE 13 GLOBAL AIRCRAFT LEASING MARKET, BY REGION, 2015-2023 (USD MILLION) 30
FIGURE 14 NORTH AMERICA AIRCRAFT LEASING MARKET SHARE (%), 2016 31
FIGURE 15 NORTH AMERICA AIRCRAFT LEASING MARKET BY COUNTRY, 2015-2023 (USD MILLION) 32
FIGURE 16 EUROPE AIRCRAFT LEASING MARKET SHARE (%), 2016 36
FIGURE 17 EUROPE AIRCRAFT LEASING MARKET BY COUNTRY, 2015-2023 (USD MILLION) 36
FIGURE 18 ASIA-PACIFIC AIRCRAFT LEASING MARKET SHARE (%), 2016 43
FIGURE 19 ASIA-PACIFIC AIRCRAFT LEASING MARKET BY COUNTRY, 2015-2023 (USD MILLION) 43
FIGURE 20 REST OF THE WORLD AIRCRAFT LEASING MARKET SHARE (%), 2016 49
FIGURE 21 REST OF THE WORLD AIRCRAFT LEASING MARKET BY COUNTRY, 2015-2023 (USD MILLION) 49
FIGURE 22 MARKET SHARE ANALYSIS OF LESSORS BY NUMBER OF AIRCRAFT, 2015 53
FIGURE 23 GROWTH STRATEGIES ADOPTED BY KEY PLAYERS IN GLOBAL AIRCRAFT LEASING MARKET, 2013-2017 54
FIGURE 24 AGREEMENT: THE MAJOR STRATERGY ADOPTED BY, AERCAP & AIR LEASE CORPORATION, 2013-2017 54
FIGURE 25 EXPANSION: THE MAJOR STRATERGY ADOPTED BY, BOC AVIATION & GE CAPITAL AVIATION SERVICES, 2013-2017 55
FIGURE 26 AERCAP: RECENT FINANCIALS 57
FIGURE 27 AERCAP: GEOGRAPHIC REVENUE, 2016 (%) 57
FIGURE 28 AERCAP: SWOT ANALYSIS 59
FIGURE 29 AIR LEASE CORPORATION: RECENT FINANCIALS 60
FIGURE 30 AIR LEASE CORPORATION: GEOGRAPHICAL REVENUE, 2016 (%) 61
FIGURE 31 AIR LEASE CORPORATION: SEGMENTAL REVENUE, 2016 (%) 61
FIGURE 32 AIR LEASE CORPORATION: SWOT ANALYSIS 63
FIGURE 33 BOC AVIATION: RECENT FINANCIALS 64
FIGURE 34 BOC AVIATION: GEOGRAPHIC REVENUE, 2016 (%) 65
FIGURE 35 GECAS: RECENT FINANCIALS 66
FIGURE 36 GECAS: SEGMENTAL REVENUE, 2016 (%) 67
FIGURE 37 GECAS: GEOGRAPHIC REVENUE, 2016 (%) 67
FIGURE 38 GE CAPITAL AVIATION SERVICES: SWOT ANALYSIS 68
FIGURE 39 BBAM: RECENT FINANCIALS 69
FIGURE 40 BBAM: GEOGRAPHIC REVENUE, 2016 (%) 70
FIGURE 41 BOEING CAPITAL CORPORATION: RECENT FINANCIAL 73
FIGURE 42 BOEING CAPITAL: SWOT ANALYSIS 74
FIGURE 43 SMBC AVIATION CAPITAL: RECENT FINANCIALS 75
FIGURE 44 SMBC AVIATION CAPITAL: GEOGRAPHIC REVENUE, 2016 (%) 76
FIGURE 45 ICBC LEASING: RECENT FINANCIALS 79