Aviation Asset Management Market was valued at USD 239.37 Million in 2023 and is expected to reach USD 334.83 Million by 2031, at a CAGR of 4.91% during the forecast period from 2024 to 2031.
The global market for aviation asset management is expected to achieve a remarkable CAGR during the forecast period. The market is propelled by innovation in new airplane models and the growth in air passenger traffic due to the shifted consumer preference towards traveling through the air mode and the growth in per capita consumer income. Additionally, the creation of retrofit & after markets and technological growth is anticipated to shape the growth in the global aviation asset management market during the forecast period.
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Rise in Air Traffic Drives the Market Growth
Based on the data of the International Civil Aviation Organization (ICAO), passenger traffic and freight are likely to double by 2035. Increased disposable income among the middle class population and comfort, convenience, and time efficiency of the air transport mode among passengers are responsible for the growing popularity of the air transport modes. In addition, low-fare air ticket availability for holiday destinations in various parts of the globe is inviting consumers to choose air modes of transportation. The governments of various nations are heavily investing in tourism industry growth and simplifying the procedure of obtaining visas for global tourists.
The implementation of an aviation asset management system is viewed as favorable for the aviation sector because it reduces the fixed and variable cost of management and is effective. The players in the industry also aim to enhance their services by embracing intelligence and real-time analytical solutions to increase profit and decrease costs in key areas, such as fraud detection, marketing, data management, and tracing. Thus, an increase in the number of passengers who are ready to travel using the air transport modes and favorable government policies and regulations are likely to drive the growth of the global aviation asset management market during the next five years.
Ongoing Technological Advancements Supports the High Market Demand
Contemporary aviation is made up of numerous components that must be effectively managed in order to operate seamlessly. Providers of aviation asset management are heavily investing in the technology development of the current system and discovering new solutions in order to increase the overall efficiency of the system. The emergence of new technologies and advancements in interrelated technologies is driving the rate at which firms are able to incorporate their systems with the Cloud technology since it is very secure. Blockchain technology can be utilized in various applications such as tokenization, smart contracts, certification, and digital IDs. The introduction of improved performing aviation asset management system by the players is anticipated to develop new growth opportunities for the market during the forecast period.
Market Segmentation
In terms of country, United States is anticipated to be a promising market owing to the increase in expenditure capacity and number of passengers willing to travel via air ways.
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Market Players
AerCap Holdings N.V, Aviation Asset Management Inc, BBAM Aircraft Leasing & Management, Acumen Aviation, AerData (Boeing Company), GA Telesis, LLC, Skyworks Capital, LLC., Charles Taylor Aviation (Asset Management) Ltd., GE Capital Aviation Services (General Electric Company), Airbus Group, are the major market players operating in the global aviation asset management market.
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Attribute |
Details |
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Base Year |
2021 |
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Historic Data |
2017 – 2020 |
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Estimated Year |
2022 |
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Forecast Period |
2023 – 2027 |
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Quantitative Units |
Revenue in USD Million, and CAGR for 2017-2021 and 2022-2027 |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
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Segments covered |
· Service Type · Type · End Use |
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Regional scope |
North America; Asia Pacific; Europe & CIS; South America; Middle East & Africa |
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Country scope |
United States; Canada; Mexico; China, India, Japan, Thailand, Indonesia, Australia, South Korea; Germany, France, United Kingdom, Spain, Italy, Netherlands, Russia, Poland; Brazil, Argentina; Saudi Arabia, Iran, Israel, UAE, Turkey |
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Key companies profiled |
AerCap Holdings N.V, Aviation Asset Management Inc, BBAM Aircraft Leasing & Management, Acumen Aviation, AerData (Boeing Company), GA Telesis, LLC, Skyworks Capital, LLC., Charles Taylor Aviation (Asset Management) Ltd., GE Capital Aviation Services (General Electric Company), Airbus Group |
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Customization scope |
10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
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Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
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Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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