Dublin, April 07, 2023 (GLOBE NEWSWIRE) -- The "Aviation Asset Management Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027Segmented By Service Type, By Type , By End Use, and By Region" report has been added to ResearchAndMarkets.com's offering.
The global aviation asset management market is anticipated to register an impressive CAGR in the forecast period, 2023-2027.
Companies Mentioned
- AerCap Holdings N.V
- Aviation Asset Management Inc
- BBAM Aircraft Leasing & Management
- Acumen Aviation
- AerData (Boeing Company)
- GA Telesis, LLC
- Skyworks Capital, LLC.
- Charles Taylor Aviation (Asset Management) Ltd.
- GE Capital Aviation Services (General Electric Company)
- Airbus Group
The market is driven by the development of new aircraft models and a surge in air passenger traffic owing to the changed preference of consumers to travel via air mode and the increased per capita income of consumers.
Also, the development of retrofit & aftermarkets and advancements in technology are expected to influence the growth of the global aviation asset management market in the forecast period.
Rise in Air Traffic Drives the Market Growth
According to the International Civil Aviation Organization (ICAO) data, passenger traffic, and freight volume are expected to double by 2035. The growing popularity of air transport modes among passengers is due to the increase in disposable income of the middle-class population and the comfort, convenience, and time-saving offered by the air travel mode of transportation.
Also, the availability of low-cost airline tickets to popular tourist destinations across the world is attracting consumers to opt for air travel modes. The government of several countries is significantly investing in the development of the tourism industry and making the process of obtaining visas easier for international tourists.
The adoption of an aviation asset management system is considered beneficial for the aviation industry as it helps to lower fixed and variable management costs and is highly effective.
The market players also focus on improving their services by adopting intelligence and real-time analytical solutions to boost profits and reduce costs in crucial areas, including fraud detection, marketing, data management, and tracking.
Therefore, a rise in the number of passengers willing to travel by using air transportation modes and supportive government policies and regulations are expected to accelerate the growth of the global aviation asset management market over the next five years.
Ongoing Technological Advancements Support the High Market Demand
Modern aviation consists of many parts that need to be properly managed to function properly. Aviation asset management service providers are making heavy investments in the technological advancement of the existing system and finding innovative solutions to improve the system's overall efficiency.
The advent of novel technologies and developments in connected technologies is fueling the number of companies that can integrate their systems with the cloud, the internet of things, data management tools, and predictive analysis technology to improve their performance.
Also, to lower the disruptions and increase security, the market players are adopting blockchain technology as it is highly secure. Blockchain technology can be used in several applications, including tokenization, smart contracts, certification, and digital IDs. The launch of a better-performing aviation asset management system by the players is expected to create new growth avenues for the market in the forecast period. .
Report Scope:
In this report, global aviation asset management market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Aviation Asset Management Market, By Service Type:
- Leasing Services
- Technical Services
- Regulatory Certifications
Aviation Asset Management Market, By Type:
- Direct Purchase
- Operating Lease
- Finance Lease
- Sale & Lease Back
Aviation Asset Management Market, By End Use:
- Commercial Platforms
- MRO Services
For more information about this report visit https://www.researchandmarkets.com/r/dm9tu1
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