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Aviation Asset Management Market is projected to reach USD 338.17 Bn by 2030, driven by factors fueling its growth



Aviation Asset Management Market is driven by increasing air traffic, demand for new aircraft & adoption of cloud-based solutions for efficient asset management

AUSTIN, TEXAS, UNITED STATES, April 4, 2024 / -- Aviation Asset Management Market Overview:

The global 𝐀𝐯𝐢𝐚𝐭𝐢𝐨𝐧 𝐀𝐬𝐬𝐞𝐭 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 is experiencing robust growth, driven by increasing air passenger traffic, rising demand for new aircraft, and the need for efficient management of existing aviation assets. Airlines and leasing companies are focusing on optimizing their fleets to reduce costs and improve operational efficiency, fueling the demand for aviation asset management services. Additionally, the growing trend of aircraft leasing and the emergence of new technologies, such as predictive maintenance and digital twin solutions, are further driving market growth.

One key trend in the Aviation Asset Management Market is the adoption of cloud-based solutions. Cloud-based aviation asset management systems offer several advantages, including scalability, cost-effectiveness, and real-time data access. These solutions enable airlines and leasing companies to efficiently manage their assets, streamline operations, and enhance decision-making processes. As a result, cloud-based aviation asset management solutions are expected to witness significant adoption in the coming years, further driving market growth.

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Market Sizing:

According to the latest insights from SNS Insider, the Aviation Asset Management Market is not just flying high; it's on a trajectory to surpass USD 229.58 billion in 2022 and is poised for stellar growth, reaching USD 338.17 billion by 2030, maintaining an impressive CAGR of 4.96% over the forecast period from 2023 to 2030.

Major Key Players Included are:

• Acumen
• AerData
• Charles Taylor Aviation (Asset Management) Ltd
• GE Capital Aviation Services (General Electric Company)
• GA Telesis, LLC
• Skyworks Capital, LLC
• Airbus Group
• AerCap Holdings N.V
• Aviation Asset Management Inc
• BBAM Aircraft Leasing & Management, and Other Players

Market Report Scope

The Aviation Asset Management Market, a pivotal sector in the aviation industry, is thriving on the back of factors like the rise of low-cost carriers and the surge in air traffic. In a competitive landscape, businesses are vying to capture substantial market share by proactively managing crucial elements like aircraft parts and services. This includes the costs associated with maintaining one or more aircraft throughout their useful life. The exponential growth in air passenger traffic, especially in the Asia Pacific region accounting for 35% of scheduled passenger and cargo traffic, has been a primary catalyst for the market's robust expansion. The outlook of the Aviation Asset Management Market delves deep into various factors, including opportunities, constraints, drivers, and more, providing a comprehensive view of its future growth potential.

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Market Analysis

A myriad of factors propels the Aviation Asset Management Market, with the surge in air passenger traffic and the emergence of new aircraft models standing out as prominent drivers. Increased investments in the sector signal a promising trend that positively influences market performance, opening avenues for sustainable growth. An exciting opportunity lies in the integration of innovative technologies to create efficient aviation asset management solutions. As businesses navigate the Aviation Asset Management Market, identifying and capitalizing on these opportunities becomes imperative for sustained market presence.

Segment Analysis

• In the realm of Aviation Asset Management, the narrow-body aircraft segment is poised to exhibit a remarkable over 6% CAGR during the study period. The surge in air traffic, especially in emerging economies, and the burgeoning domestic air travel industry are propelling this growth.
• The increasing demand for Low-Cost Carriers (LCC), coupled with reduced air travel expenses, is fostering the adoption of aviation asset management solutions for narrow-body aircraft. This segment's dominance is further fueled by the rapid proliferation of business and medical tourism, promising significant growth in the years ahead.
• Regarding end-use, the airline operators segment is anticipated to depict a CAGR of over 5% from 2022 to 2030. This surge is attributed to the upswing in air traffic, which has accelerated the demand for commercial and passenger aircraft.
• With a focus on increasing fleet size, global airline operators are turning to financial leasing and acquiring new aircraft to meet the escalating air traffic demands, presenting new growth prospects for the Aviation Asset Management Market.

Sub-Segmentation included are:

By Service Type
• Leasing Services
• Technical Services
• Regulatory Certifications

By Type
• Direct Purchase
• Operating Lease
• Finance Lease
• Sale & Lease Back

By End Use
• Commercial Platforms
• MRO Services

Growth Factors

• A pivotal catalyst for the flourishing Aviation Asset Management Market is the surge in low-cost carriers (LCCs). As these carriers continue to proliferate, catering to the evolving preferences of air travelers seeking economical options, the demand for aviation asset management solutions soars. LCCs often operate with streamlined and efficient fleets, necessitating sophisticated asset management strategies to maintain cost-effectiveness and operational efficiency.
• The fundamental growth driver for the Aviation Asset Management Market is the substantial increase in air traffic globally. The rise in air passenger traffic, especially in regions like the Asia Pacific, has created a demand surge for commercial and passenger aircraft. With more planes in operation, the need for efficient asset management becomes critical to ensure optimal performance, safety, and compliance. As air travel becomes more accessible, the Aviation Asset Management Market is poised to capitalize on the expanding market opportunities.
• The Asia Pacific region emerges as a powerhouse propelling the Aviation Asset Management Market forward. With a significant share of scheduled passenger and cargo traffic, accounting for 35% globally, the region plays a central role in influencing the market's performance. The economic growth in Asia Pacific nations, coupled with an increase in low-cost airlines, contributes to the expansion of the Aviation Asset Management Market. As aviation becomes an integral part of the region's economic landscape, the demand for efficient asset management solutions intensifies.

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Key Regional Development

Historically, North America has played a pivotal role in propelling worldwide market growth in aviation asset management. The region's dominance is expected to persist, driven by powerful and profitable market participants. Simultaneously, the Asia-Pacific region is emerging as a significant player, thanks to increased air passenger traffic and a rise in low-cost airlines. Large-scale airline fleet upgrades in the Middle East and Africa are poised to positively impact the aviation asset management business, creating new growth avenues.

Key Takeaways

• The Aviation Asset Management Market is on a trajectory to reach USD 338.17 billion by 2030, fueled by the surge in air traffic and increased investments in the sector.
• The narrow-body aircraft segment and airline operators segment are pivotal contributors to the market's growth, driven by factors like air traffic expansion and fleet upgrades.
• North America historically leads, but the Asia-Pacific region is emerging as a powerhouse in the global market.

Recent Developments

• Businesses in the Aviation Asset Management Market are increasingly adopting cutting-edge technologies such as Global Positioning Systems, Radio Frequency Identification, and Bluetooth Low Energy for enhanced efficiency in their asset tracking solutions.
• Airbus, a key player in the Aviation Asset Management Market, has announced a strategic partnership with Air Liquide and VINCI Airports to promote hydrogen application and contribute to the decarbonization of the aviation sector.

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Table of Contents – Major Key Points

1. Introduction

2. Research Methodology

3. Market Dynamics

4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession

5. Value Chain Analysis

6. Porter’s 5 Forces Model

7. PEST Analysis

8. Aviation Asset Management Market Segmentation, by Service Type

9. Aviation Asset Management Market Segmentation, by Type

10. Aviation Asset Management Market Segmentation, by End Use

11. Regional Analysis

12. Company Profiles

13. Competitive Landscape

14. Conclusion

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