USD 229.21 billion
Aviation Asset Management Market Size, Share, Growth Analysis, By Component(Solution (Real-Time Location System (RTLS), Barcode, Mobile Computer, Labels), By Type(Digital Assets, Returnable Transport Assets, In-transit Assets, Manufacturing Assets), By Function(Location & Movement Tracking, Check In/Check Out, Repair & Maintenance, Others), By Application(Infrastructure Asset Management (Transportation, Energy Infrastructure, Water & Waste Infrastructure, Critical Infrastructure), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20A2145 |
Region:
Global |
Published Date: March, 2024
Pages:
202
|Tables:
90
|Figures:
76
Aviation Asset Management Market Insights
Aviation Asset Management Market size was valued at USD 229.21 billion in 2022 and is poised to grow from USD 240.44 billion in 2023 to USD 352.54 billion by 2031, growing at a CAGR of 4.90% during the forecast period (2024-2031).
The Global Aviation Asset Management Market is a thriving and dynamic industry that plays a vital role in ensuring the efficient and effective management of aviation assets throughout their lifecycle. This market revolves around the strategic planning, acquisition, operation, maintenance, and disposal of aircraft, engines, and other aviation assets. The purpose of the Aviation Asset Management market is to optimize the utilization, performance, and value of aviation assets for airlines, leasing companies, manufacturers, and other stakeholders in the aviation industry. It involves the comprehensive management of assets to enhance operational efficiency, minimize downtime, reduce costs, and maximize returns on investment. Several drivers contribute to the growth of the Aviation Asset Management market. Firstly, the rapid expansion of the global aviation industry, coupled with the increasing demand for air travel, drives the need for efficient asset management practices. Airlines and leasing companies aim to maximize the utilization of their fleets, improve maintenance planning, and optimize asset lifecycle management to meet the growing demand. Furthermore, the emergence of new aircraft models, technological advancements, and the need for compliance with stringent regulatory standards create opportunities for asset upgrades, fleet modernization, and replacement strategies. The drive for fuel efficiency, environmental sustainability, and cost savings also encourages the adoption of advanced asset management solutions. However, the Aviation Asset Management market does face certain restraints. The high costs associated with aircraft acquisition, maintenance, and storage, coupled with economic uncertainties and volatile fuel prices, pose challenges for market growth. Additionally, the complex regulatory environment, geopolitical factors, and cyclical nature of the aviation industry can impact asset management strategies.
Key trends in the Aviation Asset Management market include the adoption of digital technologies such as IoT, big data analytics, and artificial intelligence for real-time monitoring, predictive maintenance, and optimization of asset performance. The shift towards outcome-based contracts, where asset management providers offer comprehensive services based on performance metrics, is also gaining traction. Additionally, the focus on sustainability and environmental responsibility drives the integration of eco-efficient practices and the consideration of lifecycle environmental impacts in asset management decisions. Amidst the challenges and trends, the Aviation Asset Management market offers significant opportunities. The growing demand for aircraft leasing, the rise of low-cost carriers, and the need for fleet optimization in emerging markets present attractive avenues for market expansion. Moreover, the ongoing digital transformation and the integration of advanced technologies create opportunities for innovative asset management solutions and services.
US Aviation Asset Management Market is poised to grow at sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Commercial Aircraft
Fastest Growth
Commercial Aircraft
Growth Rate
4.90% CAGR
Global Aviation Asset Management Market ($ Bn)
Country Share for North America Region (%)
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Aviation Asset Management Market Segmental Analysis
Aviation Asset Management Market is segmented on the basis of aircraft Component (Solution (Real-Time Location System (RTLS), Barcode, Mobile Computer, Labels, Global Positioning System (GPS), Others), Service (Strategic Asset Management, Operational Asset Management, Tactical Asset Management), By Type ( Digital Assets, Returnable Transport Assets, In-transit Assets, Manufacturing Assets, Personnel/Staff), By Function (Location & Movement Tracking, Check In/Check Out, Repair & Maintenance, Others), By Application (Infrastructure Asset Management (Transportation, Energy Infrastructure, Water & Waste Infrastructure, Critical Infrastructure, Others), Enterprise Asset Management, Healthcare Asset Management, Aviation Asset Management, Others), By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Aviation Asset Management Market Analysis By Type
According to the 2023 analysis, the Digital Assets sub-segment is the dominant force within the asset management market. The rise in digital transformation initiatives, increased reliance on digital technologies, and the growing volume of digital data have significantly contributed to this dominance. Organizations across various industries are prioritizing the management of digital assets to enhance operational efficiency, ensure data security, and leverage data analytics for strategic decision-making.
The In-transit Assets sub-segment has been identified as the fastest-growing segment in 2023. This rapid growth is driven by the increasing need for real-time tracking and monitoring of assets during transportation, heightened demand for supply chain visibility, and advancements in IoT and sensor technologies. Companies are investing heavily in solutions to monitor the status and location of assets in transit to reduce losses, improve logistics efficiency, and enhance customer satisfaction.
Aviation Asset Management Market Analysis By Application
In 2023, the asset management market is characterized by a diverse range of application sub-segments, including Infrastructure Asset Management, Enterprise Asset Management, Healthcare Asset Management, Aviation Asset Management, and others. Among these, Enterprise Asset Management (EAM) stands out as the dominant sub-segment. EAM's dominance is driven by its comprehensive solutions that cater to a wide array of asset types, seamless integration with other enterprise systems like ERP and CRM, and advanced capabilities such as predictive maintenance and IoT integration. These features enable organizations to optimize asset utilization, reduce operational costs, and ensure regulatory compliance, making EAM indispensable across industries such as manufacturing, energy, and utilities.
On the other hand, Healthcare Asset Management emerges as the fastest-growing sub-segment in 2023. This rapid growth is propelled by the increasing demand for healthcare services due to a growing global population, aging demographics, and the rising prevalence of chronic diseases. Healthcare facilities are adopting advanced technologies like RFID, IoT, and AI to enhance real-time tracking, monitoring, and management of medical equipment and supplies. Additionally, stringent regulatory requirements necessitate effective asset management to ensure compliance, improve operational efficiency, and maintain high standards of patient safety and care quality. These factors collectively contribute to the accelerated expansion of the Healthcare Asset Management sub-segment, reflecting the critical role of asset management in the healthcare sector's ongoing evolution.
Global Aviation Asset Management Market By Aircraft type
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Aviation Asset Management Market Regional Insights
One dominating region in the Aviation Asset Management market is North America. With a well-established aviation industry and a strong presence of major airlines and leasing companies, North America holds a significant market share in aviation asset management. The region boasts advanced infrastructure, robust regulatory frameworks, and high demand for aircraft fleet management services. For example, in North America, companies like GE Aviation, with their vast portfolio of aviation asset management solutions, have a substantial market presence, offering comprehensive services for aircraft maintenance, leasing, and aftermarket support. The region's dominance can be attributed to the presence of key industry players, technological advancements, and the continuous focus on optimizing fleet performance.
On the other hand, the Asia Pacific region is emerging as the fastest-growing region in the Aviation Asset Management market. With the rapid expansion of air travel, increasing investments in aviation infrastructure, and the rise of low-cost carriers, the region presents immense growth opportunities. For instance, companies like AirAsia Group have established themselves as leading players in the Asia Pacific region, leveraging efficient fleet management strategies to support their growing operations. The market share in the Asia Pacific region is expected to witness significant growth as airlines and leasing companies in countries such as China, India, and Southeast Asian nations invest in fleet expansion, modernization, and asset management solutions to cater to the increasing passenger demand.
Global Aviation Asset Management Market By Region
- Largest
- Fastest
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Aviation Asset Management Market Dynamics
Aviation Asset Management Market Drivers
Increasing Demand for Aircraft Leasing
- The rising demand for aircraft leasing is driving the Aviation Asset Management market. Airlines, especially low-cost carriers and new entrants, prefer leasing aircraft instead of purchasing them outright due to lower upfront costs and flexibility. This trend creates opportunities for aviation asset management providers who specialize in leasing services. For example, companies like AerCap Holdings N.V. and GECAS (GE Capital Aviation Services) provide aircraft leasing services and also offer comprehensive asset management solutions to maximize the value and utilization of their leased fleets.
Aviation Asset Management Market Restraints
Regulatory Compliance and Safety Standards
- The aviation industry operates under strict regulatory frameworks and safety standards imposed by international aviation authorities. Compliance with these regulations is essential for aircraft operators and asset management providers. The complex regulatory environment can pose challenges for asset management practices, as strict adherence to safety standards and documentation requirements is necessary. For instance, managing lease transitions, regulatory inspections, and ensuring airworthiness certification can be time-consuming and resource-intensive for asset managers.
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Aviation Asset Management Market Competitive Landscape
The global aviation asset management market is highly competitive, with several key players vying for market share. These players include major aerospace companies, aviation leasing firms, asset management service providers, and technology solution providers. Some of the key players in the market offer a wide range of services, including fleet planning and management, lease management, remarketing, maintenance tracking, and technical advisory services. In addition, emerging players in the market, particularly technology solution providers, are introducing innovative software platforms and analytics tools to enhance efficiency and optimize asset utilization. The competitive landscape is driven by factors such as market consolidation, strategic partnerships, technological advancements, and a focus on customer-centric solutions, as companies aim to cater to the evolving needs of airlines, lessors, and other aviation stakeholders.
Aviation Asset Management Market Top Player’s Company Profile
- GE Aviation (US)
- Airbus (UK)
- Boeing (US)
- Lufthansa Technik AG (Germany)
- Safran SA (France)
- United Technologies Corporation (US)
- General Dynamics Corporation (US)
- Bombardier Inc. (Canada)
- Embraer S.A. (Brazil)
- Honeywell International Inc. (US)
- Mitsubishi Heavy Industries, Ltd. (Japan)
- Textron Inc. (US)
- Leonardo S.p.A. (Italy)
- Singapore Technologies Engineering Ltd (Singapore)
- Thales Group (France)
- United Aircraft Corporation (Russia)
- China Aerospace Science and Technology Corporation (China)
- Korean Air Aerospace Division (South Korea)
- Kawasaki Heavy Industries, Ltd. (Japan)
Aviation Asset Management Market Recent Developments
- In January 2023, AerCap Holdings N.V., the world's largest aircraft leasing company, acquired Aviation Asset Management Inc., a leading provider of aviation asset management software.
- In February 2023, Boeing announced the launch of its new aviation asset management solution, Boeing Flight Portfolio.
- In March 2023, GE Capital Aviation Services (GECAS) announced the expansion of its aviation asset management services to include data analytics and predictive maintenance.
- In April 2023, Airbus announced the launch of its new aviation asset management solution, Airbus AssetCare.
- In May 2023, Rolls-Royce announced the acquisition of Aviareto, a leading provider of aviation asset management services.
Aviation Asset Management Key Market Trends
- Adoption of Data-driven Decision Making: The industry is increasingly relying on data-driven decision making to optimize asset management strategies. Aviation asset management providers are leveraging big data analytics and AI algorithms to analyze large volumes of data and gain insights into asset performance, maintenance requirements, and operational efficiency. This trend enables proactive decision making, better planning of maintenance activities, and improved asset utilization. For example, AAR Corp utilizes data analytics to identify cost-saving opportunities and optimize component repairs in their asset management operations.
Aviation Asset Management Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analyses, The Global Aviation Asset Management Market is poised for significant growth in the coming years. The market analysis suggests that factors such as increasing air passenger traffic, growing fleet size, and the need for efficient maintenance and repair operations are driving the demand for aviation asset management solutions. Additionally, the implementation of advanced technologies such as the Internet of Things (IoT), artificial intelligence (AI), and big data analytics is expected to further enhance the efficiency and effectiveness of asset management processes in the aviation industry. With a focus on optimizing operational costs, improving safety and regulatory compliance, and maximizing asset utilization, the aviation asset management market is anticipated to witness substantial expansion across various regions globally.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 229.21 billion |
| Market size value in 2031 | USD 352.54 billion |
| Growth Rate | 4.90% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Aviation Asset Management Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Aviation Asset Management Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Aviation Asset Management Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Aviation Asset Management Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Aviation Asset Management Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Aviation Asset Management Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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