The Middle East & Africa aviation leasing market is expected to grow from US$ 19.5 billion in 2022 to US$ 29.2 billion by 2030; it is estimated to register a CAGR of 5.6% from 2023 to 2030

There is a strong and steady demand for cargo aircraft leasing due to the increasing popularity of online shopping and global trade, which would provide opportunities for leasing companies.

New York, July 04, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Middle East & Africa Aviation Leasing Market Forecast to 2030 - COVID-19 Impact and Regional Analysis by Leasing Type and Aircraft Type" - https://www.reportlinker.com/p06470836/?utm_source=GNW
Also, the cargo market offers a diverse range of aircraft requirements.

From smaller regional freighters to large wide-body cargo planes, there is a need for various aircraft types to accommodate different cargo volumes and transportation distances.Due to this diversity, leasing companies offer a wide portfolio of aircraft options to cater to the specific needs of cargo operators.

In 2023, the UAE government issued a license for electric cargo aircraft.This license reflects the UAE’s commitment to sustainable development and its proactive approach to embrace innovative solutions.

These advancements in electric cargo aircraft are set to drive the growth of cargo deliveries, facilitating efficient, eco-friendly, and economically sustainable transportation of goods. Due to the continuous developments and adoption of new technologies in MEA region for expansion of supply chain the demand for cargo aircraft is increasing, which is further driving Middle East & Africa aviation leasing market growth.

Moreover, due to the rise in e-commerce and trading activities in the region, air transport is preferred for shipping cargo.This has given rise to the use of airlines to transport goods.

For instance, according to the IATA, the cargo tonne-kilometers (CTKs) in the Middle East increased by 9.1% in March 2021 compared to March 2019, and CTKs in Africa rose by 23.1% for the same period. Thus, to manage the increasing cargo transport via air, airlines such as Emirates, Qatar Airways, Royal Jordanian, Etihad Airways, and Gulf Air rely on aircraft leasing for fleet management. For instance, in May 2023, Emirates SkyCargo wet-leased two 747-400Fs to add capacity to manage the fleets and increase cargo activities. Thus, rise in aircraft leasing activities by drives Middle East & Africa aviation leasing market players, drives the growth of market.

According to IATA, Middle Eastern airlines experienced an increase of 43.1% in traffic in March 2023, and Africa saw a rise of 71.7% in the same period. As the traffic grows, the airlines need a greater number of fleets to handle the increasing air traffic. In addition, the procurement cost of new aircraft is very high; hence, airlines lend aircraft from the aircraft leasing companies to trim the operating cost. For instance, in May 2023, LIFT, a South African airline, signed a lease agreement with AerCap to procure an Airbus A320-200 for its fleet and route expansion plans. The key market players in the aviation leasing market include Sahara African Aviation, Sofema Aviation Services, Air Charter Service, and Novus Aviation Capital. These market players lend their services to cater to the rising demand for aviation leasing, fueling the Middle East & Africa aviation leasing market growth.

The Middle East & Africa aviation leasing market size is segmented based on leasing type, aircraft type, and country.Based on leasing type, the MEA aviation leasing market is segmented into dry leasing, wet leasing, and damp leasing.

Based on aircraft type, the MEA aviation leasing market is segmented into narrow body, wide body, and regional aircraft.By country, the Middle East & Africa aviation leasing market is segmented into Saudi Arabia, UAE, South Africa, Qatar, and the Rest of Middle East & Africa.

A few of the major players operating in the Middle East & Africa aviation leasing market are Avilease, Abl Corporation, Novus Aviation Capital, Dubai Aerospace Enterprise (Dae) Ltd., Alafco Aviation Lease and Finance Co., Sahara African Aviation, Fair Aviation, Global Aviation Operations, and Acia Aero Leasing.

The Middle East & Africa aviation leasing market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the Middle East & Africa aviation leasing market.

Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the Middle East & Africa aviation leasing market. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the Middle East & Africa aviation leasing market.
Read the full report: https://www.reportlinker.com/p06470836/?utm_source=GNW

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