Aviation asset management is a systematic set of activities that support the value chain of the aviation industry. It is an integral part of airline operations to save various costs. As operating leases of aircraft mature, airlines conduct different cost saving activities to leverage operating profits by closely managing their aircraft lease agreements. This includes a proactive, systematic approach to ensure that contractual obligations are met. Aviation asset management largely involves activities, such as asset inspection, remarketing of aircraft and related parts, redelivery of aircraft and related parts, investment in or modifying of aerospace instruments, and their redelivery. Supporting activities involve investment strategy, aircraft acquisition and repossession, aircraft delivery, lease replacement and servicing, technical management, redelivery or lease return, and aircraft inspection and maintenance, among others.
The aviation asset management market is projected to grow from USD 171.72 Billion in 2016 to USD 229.04 Billion by 2022, at a CAGR of 4.92% from 2017 to 2022. Continuous growth of the global aviation market is driving the aviation asset management market across the globe, as flying can hardly be substituted by any other means of transportation.
Key players in the aviation asset management market include GE Capital Aviation Services (U.S.), AerData (U.S.), and Airbus Group (Netherlands), among others. These market players have been focusing on securing contracts to ensure their organic growth in the aviation asset management market. The core competencies of these market players include their widespread geographical presence and increased investments in R&D activities.
GE Capital Aviation Services (GECAS) is a major player in the aviation asset management market. The company focuses on contracts through extensive R&D activities. For instance, in 2017, GECAS has signed an agreement with Air Berlin to acquire the airline’s entire inventory of 737NG material, including both rotables and expendables.
Airbus Group is another major player in the aviation asset management market. The company has a strong geographical reach covering Europe, the Middle East, Asia-Pacific, North America, Africa, and Central and South America. The wide and distributed channels lead to strong viability. The company has scope for enhanced growth by indulging in organic and inorganic strategies, such as contractual agreements and new product developments. In 2017, Airbus Group secured a contract with GoAir, a low-cost airline owned by the Wadia Group (India), for the delivery of 72 A320neo aircraft following a Memorandum of Understanding (MoU) signed during the Farnborough International Airshow in 2016.
Aviation Asset Management Market by End Use (Commercial Platforms, MRO Services), Service Type (Leasing Services, Technical Services, Regulatory Certifications), and Region (North America, Europe, Asia-Pacific, Middle East) - Global Forecast to 2022
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