LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global commercial aircraft leasing market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio analysts, the global commercial aircraft leasing market will grow at a CAGR of over 6% during the forecast period. The strong market position of Irish and Chinese lessors is a major factor driving the market’s growth.
Irish lessors majorly constitute the commercial aircraft leasing market. More than 45% of leased aircraft in the market have been leased out by Irish lessors. Several favorable policies of the country have contributed to market growth. For instance, Ireland offers high capital allowance rates and low withholding rates to companies operating within its jurisdiction. This has encouraged international players to conduct core leasing operations from Ireland. Similarly, in China, the country's leasing industry has been growing rapidly in the past decade owing to regulatory and policy support.
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In this report, Technavio highlights the conversion of aircraft into freighters as one of the key emerging trends driving the global commercial aircraft leasing market:
Conversion of aircraft into freighters
Conversion of aircraft into freighters has been gaining significant momentum in recent times. Several airlines that carry cargo are seeking freighters, in addition to delivery companies like Amazon. For instance, as of November 2017, a Freighter-converted Boeing 767 was procured by Canada-based Cargojet. The airline had acquired a 767-300BDSF from Cargo Aircraft Management (CAM), the leasing arm of ATSG. On a similar note, Amerijet (an American cargo airline) has also committed to lease three Freighter-converted 767-300s from ATSG, by 2018.
According to a senior analyst at Technavio for commercial aviation research, “The conversions were scheduled to begin in late 2017. The popularity of aircraft conversions, especially as freighters, is a key driver for market growth. More such efforts by lessors to procure these aircraft are expected during the forecast period.”
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Global commercial aircraft leasing market - segmentation analysis
This market research report segments the global commercial aircraft leasing market based on leasing type (wet leasing and dry leasing) and key regions (the Americas, APAC, and EMEA).
APAC held the largest market share in 2017, accounting for over USD 11 billion, followed by EMEA and the Americas. The market share for APAC is expected to increase further over the forecast period.
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