LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global commercial aircraft leasing market report. This research report also lists five other prominent vendors that are expected to impact the market during the forecast period.
The global commercial aircraft leasing market is propelled by numerous factors. One of these factors is the increase in the global passenger traffic, which is compelling the global airlines to increase their existing fleet sizes. This factor has also increased the significance of aircraft leasing arrangements. Growing investments by the Chinese and Irish aircraft lessors is also propelling the global commercial aircraft leasing market during the forecast period.
Competitive vendor landscape
There are many regional and multinational vendors in the global commercial aircraft leasing market, and the market is characterized by intense competition. However, major vendors like GECAS and AerCap dominate the market. During the forecast period, the requirement for an enhanced response time is expected to increase long-term collaboration among airlines and aircraft lessors.
“Vendors with financial muscles are expected to acquire key contracts in emerging economies, including India, China, and Brazil. Low-interest rates and value-added services will help them to maintain long-term collaborations with the airlines,” says Avimanyu Basu, a lead aerospace analyst from Technavio.
The growth of the major vendors depends on several factors, including the condition of the direct aircraft procurement market, government initiatives, and focus on the worldwide availability of leasing services. The vendors must extend their services to untapped international markets while reviving domestic demand to achieve sustained growth.
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Top five commercial aircraft leasing market vendors
As of December 2015, AerCap projected a total asset of USD 43.89 billion and operated 1,109 aircraft. The company serves over 200 customers in 80 countries across the globe. Airbus A320ceo and neo series, Airbus A330 and A350, and Boeing 737NG and 787 aircraft constitute over 83% of the aircraft fleet of the company. In FY2015, the company executed 276 agreements and purchased 46 new aircraft. It currently has an order book of 439 aircraft from various airlines across the globe.
BBAM engages in a comprehensive array of aircraft lease activities like the origination of transactions through purchases for OEMs, sale-leaseback transactions for airlines, and purchase of commercial aircraft from other lessors and financial institutions. The company caters to over 200 airlines in 50 countries across the globe.
CIT Commercial Air
CIT Commercial Air primarily serves global and regional airlines across the world through its offices located in the US and several other European and Asian countries. As of December 31, 2015, the company financed, leased, and managed a portfolio comprising 386 aircraft fleets.
As of December 2015, GECAS leased 1,620 aircraft to various airlines across the globe and booked 423 aircraft for procurement. In September 2016, the company started delivering Airbus A320neo under operating lease agreements.
SMBC Aviation Capital
As of 31 March 2016, SMBC Aviation Capital owned, managed, and leased 660 aircraft to more than 100 customers in 43 countries across the globe. It also placed an order worth USD 8.5 billion to Boeing for 80 B737 Max 8 aircraft that are scheduled to be delivered between 2018-2022. Similarly, in 2015, the company contracted Airbus for the supply of 110 A320neo and five A320ceo aircraft worth USD 11.8 billion. These aircraft are scheduled to be delivered between 2017-2022.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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