Global Aircraft Leasing Market (By Aircraft Type & Region): Insights & Forecast with Potential Impact of COVID-19 (2023-2027)
The global aircraft leasing market is forecasted to reach US$266.71 billion in 2027, experiencing growth at a CAGR of 7.8% during the period spanning from 2023 to 2027. Growth in the global aircraft leasing market was supported by factors such as rising air passenger traffic, increased use of air cargo, rise in global gross domestic product, increasing share of leasing aircrafts, rising demand for wet aircraft leasing and favorable liquidity and flexibility. However, the market growth is expected to be restrained by unforeseen contingencies, delays in aircraft delivery and unfavorable government regulations and taxation policies.
The global aircraft leasing market by aircraft type can be segmented as follows: Narrow body, wide body and others. In 2022, the dominant share of global aircraft leasing market was held by narrow body aircraft, followed by wide body and others.
The global aircraft leasing market by region can be segmented as follows: Asia Pacific, North America, Europe, Middle East & Africa and Latin America. The largest share of the market was being held by Asia Pacific, followed by North America, Europe, Middle East & Africa and Latin America. Factors such as urban air mobility (UAM) solutions, investments in emerging countries and advancements in aircrafts helped in boosting market growth.
The COVID-19 pandemic affected global aircraft leasing market negatively. Owing to the pandemic, the air travel witnessed dramatic decline causing a majority of the airline companies to ground their fleet due to the significant reduction in air travel. This led to these companies not being able to make payments for leased aircraft and seek to have their payments deferred. This caused revenue losses to global aircraft leasing market.
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