Commercial aircraft leasing refers to the leasing of aircraft operators to increase the capacity and operate the aircraft without bearing the financial burden of buying the aircraft. There are two types of commercial aircraft leasing; short term leasing which is also known as wet leasing and long term leasing which is also known as dry leasing. The aerospace industry either uses short-term leasing or long-term leasing or a combination of both. Commercial aircraft leasing is an alternative to purchasing aircrafts that may provide advantages to companies in terms of cost effectiveness. The most important reason for leasing out commercial aircrafts is that they are less costly. The global commercial aircraft leasing market is expected to maintain a steady growth rate during the forecast period owing to the rise in low cost aircraft carriers, set up of easy commercial aviation rules, increase in the number of air passengers, and increase in the volume of freight transported from one region to the other among others.
Increase in the number of air passengers coupled with increase in volume of freight, and advancement in aircraft and airport infrastructure in less developed countries are some of the key factors likely to push the growth trajectories of the global commercial aircraft leasing market. Further, leasing provides tax and balance sheet advantages.
Some of the market trends which are likely to create an impact on the growth and development of the global commercial aircraft leasing market are, diminishing rates of leasing commercial aircrafts which are expected to affect the growth of the market both positively and negatively, volatility of fuel prices is expected to increase the demand for leasing and increasing interest and leasing rates particularly for aircraft with narrow bodies among others.
The global commercial aircraft market has been segmented based on type of aircraft leased, type of services, and region.
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Based on type of aircraft leased, the global commercial aircraft leasing market has been segmented into long haul aircraft, medium distance aircraft, regional and short haul aircraft, and slot swaps among others.
Based on type of services, the market has been segmented into wet leasing and dry leasing.
Based on region, the global commercial aircraft leasing market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Steady growth of the U.S. commercial aviation industry is expected to drive the growth of the commercial aircraft leasing market in North America. North America is expected to capture a considerable portion of the global commercial aircraft leasing market during the forecast period. Further, in North America, the U.S is expected to lead the global commercial aircraft leasing market followed by Canada. Europe is also expected to acquire significant share of the global commercial aircraft leasing market during the forecast period. Increase in the number of low cost aircraft carriers coupled with a growing regional market base for commercial aircraft leasing are some of the key factors which are expected to drive the growth of the commercial aircraft leasing market in Europe. However, the Asia Pacific region is likely to be the fastest growing regional segment during the forecast period. China is projected to be a potential centre for commercial aircraft leasing with focus on regional and local players and easy aviation regulations.