Middle East & Africa Aviation Leasing Market Size and Competitive Analysis by 2030

Middle East & Africa Aviation Leasing Market Forecast to 2030 - Regional Analysis by Leasing Type (Dry Leasing, Wet Leasing, and Damp Leasing) and Aircraft Type (Narrow Body, Wide Body, and Regional Aircraft)

  • Report Code : TIPRE00029928
  • Category : Aerospace and Defense
  • Status : Published
  • No. of Pages : 107
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The Middle East & Africa aviation leasing market is expected to grow from US$ 19,973.04 million in 2023 to US$ 29,214.98 million by 2030; it is estimated to register a CAGR of 5.6% from 2023 to 2030.

The coordination among the governments, their civil aviation authorities, and regional associations contribute to efficient operations in the aviation sector. Major entities in the region include International Air Transport Association (IATA), African Airlines Association (AFRAA), African Civil Aviation Commission (AFCAC), Arab Air Carriers Organization (AACO), International Civil Aviation Organization (ICAO-MID, ESAF, and WACAF), airports, air navigation service providers and other regional airline associations. These entities are focused on providing efficient services to boost the aviation sector in the region. In June 2020, AFRAA announced a strategic partnership with ACC Aviation Group, the leading aviation service provider. With this partnership, ACC Aviation Group lends its expertise to AFRAA for various services such as aircraft charter and aircraft, crew, maintenance, and insurance (ACMI) leasing; strategic consultancy; and asset management. This strategic partnership supported the development of Africa's aviation industry and propels Middle East & Africa aviation leasing market growth.

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Middle East & Africa Aviation Leasing Market: Strategic Insights

middle-east-and-africa-aviation-leasing-market
Market Size Value inUS$ 19,973.04 million in 2023
Market Size Value byUS$ 29,214.98 million by 2030
Growth rateCAGR of 5.6% from 2023 to 2030
Forecast Period2023-2030
Base Year2023
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Impact of COVID-19 Pandemic on Middle East & Africa Aviation Leasing Market

The COVID-19 pandemic significantly impacted the Middle East & Africa aviation leasing market. Prior to the pandemic, the industry was experiencing an increase in air travel and transport, due to which the MEA region was seeing huge traffic of passenger airlines and cargo airline transports across the region. However, the restrictions imposed by the governments to curb the spread of the virus resulted in a halt in the airline industry. The Republic of South Africa imposed stringent regulations on air travel during the initial phase of the pandemic in Q1 of 2020. However, the Republic of South Africa opted for a more flexible approach in the later period, which helped revive the economic impact of the COVID-19 pandemic on country markets in the MEA.

According to the International Air Transport Association (IATA), the total passenger traffic declined in the region by 93.7% in Africa and 95.5% in the Middle East. However, according to IATA, the MEA showed signs of improvement in air passenger traffic, with the resumption of domestic flights in May 2021, which recovered 60% of the traffic volume. Also, in 2021, Dubai Aerospace Enterprise (DAE) Ltd saw a decline in revenue compared to the previous year; this shows the aviation sector was still in the recovery phase during this period. However, it is expected to recover fully and achieve the pre-COVID level by 2024.

Middle East & Africa Aviation Leasing Market Insights

Collaboration between airlines and original equipment manufacturers (OEMs) is essential to support green initiatives. One example of such collaboration is Pratt's development of the PurePower Geared Turbofan engine family. This product line is designed to offer environmentally conscious solutions for the aviation industry. By developing fuel-efficient engines, OEMs contribute to reducing carbon emissions and advancing sustainable practices in the industry. Adopting NextGen aircraft is another key trend driving fleet modernization in leasing. NextGen aircraft feature advanced technologies, improved fuel efficiency, and reduced emissions compared to older aircraft models. Leasing companies and airlines increasingly opt for these modern aircraft to enhance operational efficiency and reduce their carbon footprint. In 2023, Odys Aviation's participation in the NextGen FDI program highlighted the program's success in attracting high-tech companies and fostering economic growth in the Middle East. By embracing innovative technologies and sustainable practices, the UAE continues to position itself as a leader in the advanced manufacturing sector while creating job opportunities and driving the development of the low-carbon aviation industry. Projects such as NextGen and government initiatives are helping for Middle East & Africa aviation leasing market growth.

Aircraft Type-Based Middle East & Africa Aviation Leasing Market Insights

Based on aircraft type, the Middle East & Africa aviation leasing market is segmented into narrow body, wide body, and regional aircraft. In 2022, the narrow body segment held the largest Middle East & Africa aviation leasing market share as their ability to operate at airports with shorter runways or limited infrastructure makes them attractive for airlines serving smaller or remote destinations.

The Middle East & Africa aviation leasing market 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, the UAE, South Africa, Qatar, and the Rest of Middle East & Africa.

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 are among the key Middle East & Africa aviation leasing market players operating across the region.

The Middle East & Africa aviation leasing market players adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key Middle East & Africa aviation leasing market players are listed below:

  • In May 2023, Novus Aviation concentrated on creating sustainable aviation fuel (SAF). SAF One intends to help IATA's objective to reduce carbon emissions and create a circular economy by offering dependable and cost-effective SAF solutions to the aviation sector.
  • In December 2021, SMBC Aviation Capital announced the acquisition of Goshawk Management Ltd and associated corporate assets. The acquisition made the company the second-largest global player in terms of the number of aircraft and the largest Japanese-owned aircraft lessor.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Leasing Type, and Aircraft Type

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Qatar, Saudi Arabia, South Africa, United Arab Emirates

Frequently Asked Questions


What will be the global market size for Middle East & Africa aviation leasing market by 2030?

The Middle East & Africa aviation leasing market is expected to reach US$ 29,214.98 Mn by 2030.

Which are the key players holding the major market share of Middle East & Africa aviation leasing market?

The key players, holding majority shares, in Middle East & Africa aviation leasing market includes Dubai Aerospace Enterprise (DAE) Ltd., AerCap Holdings N.V., ALAFCO Aviation Lease and Finance Co., Avolon, and General Electric.

What are the driving factors impacting the Middle East & Africa aviation leasing market?

1. Rise in Air Passenger Traffic
2. Presence of Major Aircraft Leasing Companies in MEA

What are the future trends of the Middle East & Africa aviation leasing market?

Modernization of Fleet with NextGen Aviation and Eco-friendly Initiatives.

What is the estimated market size for Middle East & Africa aviation leasing in 2023?

The Middle East & Africa aviation leasing market was estimated to be US$ 19,973.04 million in 2023 and is expected to grow at a CAGR of 5.6 %, during the forecast period 2023 - 2030.

1. Introduction

1.1 Study Scope

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. Aviation Leasing Market Landscape

4.1 Market Overview

4.2 Porter’s Five Forces Analysis

4.2.1 Bargaining Power of Buyers

4.2.2 Bargaining Power of Suppliers

4.2.3 Threat to New Entrants

4.2.4 Threat to Substitutes

4.2.5 Competitive Rivalry

4.3 Ecosystem Analysis

4.4 Expert Opinion

5. Aviation Leasing Market- Key Market Dynamics

5.1 Market Drivers

5.1.1 Rise in Air Passenger Traffic

5.1.2 Presence of Major Aircraft Leasing Companies in MEA

5.2 Market Restraints

5.2.1 International Countries Procuring Aircraft from MEA Airliners

5.3 Market Opportunities

5.3.1 Growth in Demand for Cargo Aircraft

5.4 Future Trends

5.4.1 Modernization of Fleet with NextGen Aviation and Eco-friendly Initiatives

5.5 Impact Analysis of Drivers and Restraints

6. Aviation Leasing Market– Middle East & Africa Market Analysis

6.1 Aviation Leasing Market Middle East & Africa Overview

6.2 Middle East & Africa Aviation Leasing Market Forecast and Analysis

6.3 Market Positioning- Top Five Players

7. Aviation Leasing Market Revenue and Forecast to 2030 – Leasing Type.

7.1 Overview

7.2 Aviation Leasing Market, By Leasing Type (2022 and 2030)

7.3 Dry Leasing

7.3.1 Overview

7.3.2 Dry Leasing: Aviation Leasing Market Revenue and Forecast To 2030 (US$ Million)

7.4 Wet Leasing

7.4.1 Overview

7.4.2 Wet Leasing: Aviation Leasing Market Revenue and Forecast To 2030 (US$ Million)

7.5 Damp Leasing

7.5.1 Overview

7.5.2 Damp Leasing: Aviation Leasing Market Revenue and Forecast To 2030 (US$ Million)

8. Aviation Leasing Market Revenue and Forecast to 2030 – Aircraft Type

8.1 Overview

8.2 Aviation Leasing Market, By Aircraft Type (2022 and 2030)

8.3 Narrow Body

8.3.1 Overview

8.3.2 Narrow Body: Aviation Leasing Market Revenue and Forecast To 2030 (US$ Million)

8.4 Wide Body

8.4.1 Overview

8.4.2 Wide Body: Aviation Leasing Market Revenue and Forecast To 2030 (US$ Million)

8.5 Regional Aircraft

8.5.1 Overview

8.5.2 Regional Aircraft: Aviation Leasing Market Revenue and Forecast To 2030 (US$ Million)

9. Aviation Leasing Market– Country Analysis

9.1.1.1 South Africa: Aviation Leasing Market– Revenue and Forecast to 2030 (US$ Million)

9.1.1.1.1 South Africa: Aviation Leasing Market, By Lease Type

9.1.1.1.2 South Africa: Aviation Leasing Market, By Aircraft Type

9.1.1.2 Saudi Arabia: Aviation Leasing Market– Revenue and Forecast to 2030 (US$ Million)

9.1.1.2.1 Saudi Arabia: Aviation Leasing Market, By Lease Type

9.1.1.2.2 Saudi Arabia: Aviation Leasing Market, By Aircraft Type

9.1.1.3 UAE: Aviation Leasing Market– Revenue and Forecast to 2030 (US$ Million)

9.1.1.3.1 UAE: Aviation Leasing Market, By Lease Type

9.1.1.3.2 UAE: Aviation Leasing Market, By Aircraft Type

9.1.1.4 Qatar: Aviation Leasing Market– Revenue and Forecast to 2030 (US$ Million)

9.1.1.4.1 Qatar: Aviation Leasing Market, By Lease Type

9.1.1.4.2 Qatar: Aviation Leasing Market, By Aircraft Type

9.1.1.5 Rest of MEA: Aviation Leasing Market– Revenue and Forecast to 2030 (US$ Million)

9.1.1.5.1 Rest of MEA: Aviation Leasing Market, By Lease Type

9.1.1.5.2 Rest of MEA: Aviation Leasing Market, By Aircraft Type

10. Impact of COVID-19 Pandemic on Aviation Leasing Market

10.1 Overview

11. Industry Landscape

11.1 Overview

11.2 Market Initiative

11.3 Mergers & Acquisitions

12. Company Profiles

12.1 Avilease PIF

12.1.1 Key Facts

12.1.2 Business Description

12.1.3 Products and Services

12.1.4 Financial Overview

12.1.5 SWOT Analysis

12.1.6 Key Developments

12.2 ABL Corp

12.2.1 Key Facts

12.2.2 Business Description

12.2.3 Products and Services

12.2.4 Financial Overview

12.2.5 SWOT Analysis

12.2.6 Key Developments

12.3 Novus Aviation Capital Ltd

12.3.1 Key Facts

12.3.2 Business Description

12.3.3 Products and Services

12.3.4 Financial Overview

12.3.5 SWOT Analysis

12.3.6 Key Developments

12.4 Dubai Aerospace Enterprise Ltd

12.4.1 Key Facts

12.4.2 Business Description

12.4.3 Products and Services

12.4.4 Financial Overview

12.4.5 SWOT Analysis

12.4.6 Key Developments

12.5 Alafco Aviation Lease And Finance Co

12.5.1 Key Facts

12.5.2 Business Description

12.5.3 Products and Services

12.5.4 Financial Overview

12.5.5 SWOT Analysis

12.5.6 Key Developments

12.6 Sahara African Aviation (Pty) Ltd

12.6.1 Key Facts

12.6.2 Business Description

12.6.3 Products and Services

12.6.4 Financial Overview

12.6.5 SWOT Analysis

12.6.6 Key Developments

12.7 Fair Aviation (Pty) Ltd

12.7.1 Key Facts

12.7.2 Business Description

12.7.3 Products and Services

12.7.4 Financial Overview

12.7.5 SWOT Analysis

12.7.6 Key Developments

12.8 Global Aviation Operations (Pty) Ltd

12.8.1 Key Facts

12.8.2 Business Description

12.8.3 Products and Services

12.8.4 Financial Overview

12.8.5 SWOT Analysis

12.8.6 Key Developments

12.9 Acia Aero Leasing (Ireland) Ltd

12.9.1 Key Facts

12.9.2 Business Description

12.9.3 Products and Services

12.9.4 Financial Overview

12.9.5 SWOT Analysis

12.9.6 Key Developments

12.10 AerCap Holdings NV

12.10.1 Key Facts

12.10.2 Business Description

12.10.3 Products and Services

12.10.4 Financial Overview

12.10.5 SWOT Analysis

12.10.6 Key Developments

13. Appendix

13.1 About The Insight Partners

13.2 Word Index

LIST OF TABLES

Table 1. Middle East & Africa Aviation Leasing Market, Revenue and Forecast, 2020–2030 (US$ Million)

Table 2. South Africa: Aviation Leasing Market, By Lease Type – Revenue and Forecast to 2030 (US$ Million)

Table 3. South Africa: Aviation Leasing Market, By Aircraft Type – Revenue and Forecast to 2030 (US$ Million)

Table 4. Saudi Arabia: Aviation Leasing Market, By Lease Type – Revenue and Forecast to 2030 (US$ Million)

Table 5. Saudi Arabia: Aviation Leasing Market, By Aircraft Type – Revenue and Forecast to 2030 (US$ Million)

Table 6. UAE: Aviation Leasing Market, By Lease Type – Revenue and Forecast to 2030 (US$ Million)

Table 7. UAE: Aviation Leasing Market, By Aircraft Type – Revenue and Forecast to 2030 (US$ Million)

Table 8. Qatar: Aviation Leasing Market, By Lease Type – Revenue and Forecast to 2030 (US$ Million)

Table 9. Qatar: Aviation Leasing Market, By Aircraft Type – Revenue and Forecast to 2030 (US$ Million)

Table 10. Rest of MEA: Aviation Leasing Market, By Lease Type – Revenue and Forecast to 2030 (US$ Million)

Table 11. Rest of MEA: Aviation Leasing Market, By Aircraft Type – Revenue and Forecast to 2030 (US$ Million)

Table 12. List of Abbreviation

LIST OF FIGURES

Figure 1. Aviation Leasing Market Segmentation

Figure 2. Aviation Leasing Market Segmentation – Geography

Figure 3. Aviation Leasing Market Overview

Figure 4. Aviation Leasing Market, By Leasing Type

Figure 5. Aviation Leasing Market, By Aircraft Type

Figure 6. Aviation Leasing Market, By Country

Figure 7. Porter’s Five Forces Analysis

Figure 8. Aviation Leasing Market Ecosystem Analysis

Figure 9. Expert Opinion

Figure 10. Aviation Leasing Market: Impact Analysis of Drivers and Restraints

Figure 11. Geographic Overview of Aviation Leasing Market

Figure 12. Middle East & Africa Aviation Leasing Market, Forecast and Analysis (US$ Million)

Figure 13. Market Positioning- Top Five Players

Figure 14. Aviation Leasing Market, By Leasing Type (2022 and 2030)

Figure 15. Dry Leasing: Aviation Leasing Market Revenue and Forecast to 2030 (US$ Million)

Figure 16. Wet Leasing: Aviation Leasing Market Revenue and Forecast to 2030 (US$ Million)

Figure 17. Damp Leasing: Aviation Leasing Market Revenue and Forecast to 2030 (US$ Million)

Figure 18. Aviation Leasing Market, By Aircraft Type (2022 and 2030)

Figure 19. Narrow Body: Aviation Leasing Market Revenue and Forecast to 2030 (US$ Million)

Figure 20. Wide Body: Aviation Leasing Market Revenue and Forecast to 2030 (US$ Million)

Figure 21. Regional Aircraft: Aviation Leasing Market Revenue and Forecast to 2030 (US$ Million)

Figure 22. South Africa: Aviation Leasing Market– Revenue and Forecast to 2030 (US$ Million)

Figure 23. Saudi Arabia: Aviation Leasing Market– Revenue and Forecast to 2030 (US$ Million)

Figure 24. UAE: Aviation Leasing Market– Revenue and Forecast to 2030 (US$ Million)

Figure 25. Qatar: Aviation Leasing Market– Revenue and Forecast to 2030 (US$ Million)

Figure 26. Rest of MEA: Aviation Leasing Market– Revenue and Forecast to 2030 (US$ Million)

Figure 27. Impact of COVID-19 Pandemic on Middle East & African Country Market

The List of Companies - Middle East and Africa Aviation Leasing Market

  1. Avilease PIF
  2. ABL Corp
  3. Novus Aviation Capital Ltd
  4. Dubai Aerospace Enterprise Ltd
  5. Alafco Aviation Lease And Finance Co
  6. Sahara African Aviation (Pty) Ltd
  7. Fair Aviation (Pty) Ltd
  8. Global Aviation Operations (Pty) Ltd
  9. Acia Aero Leasing (Ireland) Ltd
  10. AerCap Holdings NV

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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