Global Aviation Asset Management Market Size By Service Type(Operating Lease, Direct Purchase), By End-User(MRO Services, Commercial Platforms), By Geographic Scope And Forecast
Global Aviation Asset Management Market Size By Service Type(Operating Lease, Direct Purchase), By End-User(MRO Services, Commercial Platforms), By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Aviation Asset Management Market Size and Forecast
Aviation Asset Management Market size is growing at a good pace over the last few years and is expected to grow at a CAGR of 15% over the forecasted period i.e 2023 to 2030.
Growing air travel demand and the subsequent increase in aircraft fleet size create a need for effective management of aviation assets. The focus on cost optimization and operational efficiency drives airlines and aircraft lessors to adopt asset management solutions. The rise of predictive maintenance and data analytics in aviation enhances asset performance and reduces maintenance costs. Additionally, regulatory requirements, such as aircraft tracking and compliance, and the need for effective asset lifecycle management further contribute to the growth of the aviation asset management market.
Aviation Asset Management Market Definition
The services and products that help airlines and other aviation-related companies in managing their assets, such as airplanes, engines, and spare parts, throughout their lifecycles are referred to as those that make up the aviation asset management market. The market provides a wide range of services, such as asset tracking and monitoring, repair and maintenance management, asset purchase and disposition, and fleets management and optimization.
Aviation asset management aims to assist companies in maximizing the worth of their assets while lowering costs and dangers and also to make certain that planes are secure and compliant with the law. The increasing need for flights and the complexity of aircraft operations, that call for innovative preservation solutions, are among the market’s primary drivers.
What's inside a industry report?
Our reports include actionable data and forward-looking analysis that help you craft pitches, create business plans, build presentations and write proposals.
Global Aviation Asset Management Market Overview
The COVID-19 epidemic had an important impact on the aviation industry, causing a decline in demand for flights, the grounding of fleets, and financial difficulties for carriers. As a result, there is less interest in services like fleet planning and optimization and purchasing and disposition, which has an impact on the aircraft asset management market. However, the need for asset monitoring and tracking has grown as a result of the requirement of ensuring the ongoing upkeep and safety of suspended fleets.
Even with all the craziness the epidemic threw at us, there's still a silver lining for those in the airline asset management game. Think about it – once we get this whole epidemic thing under control, everyone's going to want to fly again, right? That's a huge deal. To keep up with demand and make sure everything runs smoothly, airlines will need bigger fleets and smarter asset management systems. And let's not forget, aviation is seriously complicated! You need sophisticated tools to manage everything and keep things safe, efficient, and up to code. Plus, with cool new stuff like IoT, AI, and even cryptocurrency becoming more common, there are going to be tons of opportunities for companies to offer really innovative asset management solutions. It's actually pretty exciting! Exciting times ahead.
Despite all the things pushing aviation asset management forward, there are definitely hurdles. For starters, it can cost a lot of money to get those fancy asset management systems up and running. With the economic shake-up from the pandemic and the already high price tags on new planes and tech upgrades, airlines and other aviation folks might be hesitant to jump in. Then there's the whole regulatory side of things – it's tricky, always changing, and requires serious investment in risk and compliance. Plus, let's not forget about security. With cyberattacks on the rise in the aviation world, companies are understandably worried about the risks involved in managing these asset systems.
Even with its hurdles, the aircraft asset management market has some exciting growth opportunities ahead. Think about itwe're seeing more and more cutting-edge tech like artificial intelligence (AI) and machine learning being used. This helps companies get the most out of their fleets and even cut down on maintenance costs. Plus, with the aviation industry's big push for sustainability, there's a real chance for vendors to step up with environmentally friendly asset management – like using sustainable fuels and materials in airplanes. Don't forget about the newcomers, either. We're talking about startups and tech firms shaking things up with fresh solutions that challenge the old ways of doing things. And lastly, with drone and air freight operations really taking off, expect to see a whole new market emerge for asset management systems tailored to those industries.
The Aviation Asset Management Market is segmented by service type, end-user, and Geography.
Aviation Asset Management Market, By Service Type
• Operating Lease• Direct Purchase• Sale and Lease Back• Finance Lease
The operating lease segment is leading the market this is because greater fleet flexibility in management is made possible by operating leases, which can also help companies lower their front capital expenditures.
Aviation Asset Management Market, By End-User
• MRO Services• Commercial Platforms
The MRO Services segment is dominating the market and is expected to sustain its dominance in the coming years. The growing amount of operational aircraft and the growing complexity of their systems and components are also driving the demand for MRO services, which encompass duties like inspection, repair, repair, and customization of aircraft and its components.
Aviation Asset Management Market, By Geography
North America
Europe
Asia-Pacific
Latin America
Middle East Africa
North America is leading the market followed by Asia Pacific. This is because there are significant participants and multiple aircraft fleets in the vicinity, particularly within the United States. The aviation industry is expected to expand significantly in North America in the years to come, which would probably increase the need for aviation management of assets services.
Key Players
The key players in the Aviation Asset Management Market are Boeing Company, GE Aviation, Accelya Group, Lufthansa Technik AG, SITA, Oracle Corporation, ICF International, CAMP Systems International, Airbus Group, and IBM Corporation.
Key Developments
In April 2021, A memorandum of understanding has been signed by Boeing and Lufthansa Technik AG to look into potential collaborations in the maintenance, repair, and overhaul (MRO) services and aviation management of assets sectors.
In March 2021, A Dubai-based airline named Flydubai struck a five-year contract with GE Aviation to use its digital technology for aircraft upkeep and operations.
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2019-2030
BASE YEAR
2022
FORECAST PERIOD
2023-2030
HISTORICAL PERIOD
2019-2021
UNIT
Value (USD Million)
KEY COMPANIES PROFILED
Boeing Company, GE Aviation, Accelya Group, Lufthansa Technik AG, SITA, Oracle Corporation, ICF International, CAMP Systems International, Airbus Group, and IBM Corporation.
SEGMENTS COVERED
By Service Type, By End-User, and By Geography.
CUSTOMIZATION SCOPE
Free report customization (equivalent to up to 4 analyst working days) with purchase. Addition or alteration to country, regional & segment scope
Top Trending Reports
Research Methodology of Market Research
To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our .
Reasons to Purchase this Report
We take a good, hard look at the Market, diving into both the numbers and the more subtle stuff, breaking it all down by segment – considering everything from money matters to how people actually feel about things. You'll get clear figures on how much each segment and its smaller parts are worth (in USD Billion, no less!). We'll point out which region and segment we think are going to absolutely explode in growth and take over the Market. We'll also break down each geographic area, showing you who's using the product/service and what's influencing the Market there. Think of it like a local weather report, but for business. Plus, we'll show you how the big players stack up against each other, what new stuff they're launching, who they're teaming up with, and who's buying who – all within the last five years! We'll give you detailed profiles of the key companies, covering their background, insights, what makes their products tick, and a good old-fashioned SWOT analysis. You’ll also get a peek at where the industry is heading, considering all the latest happenings, growth possibilities, what's driving the Market forward, and the potential roadblocks in both up-and-coming and established areas. We'll even dig deep with Porter’s five forces analysis to give you all angles. And, we provide insight into the Market through its Value Chain. To top it all off, we provide the Market's predicted moves, including chances for growth in the years ahead. Oh, and did we mention you get 6 months of analyst support after you buy? Think of us as your Market sidekick!
Customization of the Report
• In case of any  please connect with our sales team, who will ensure that your requirements are met.
For a single, multi and corporate client license, the report will be available in PDF format.
Sample report would be given you in excel format. For more questions please contact:
Sample Report for Global Aviation Asset Management Market Size By Service Type(Operating Lease, Direct Purchase), By End-User(MRO Services, Commercial Platforms), By Geographic Scope And Forecast
