Global Aircraft Leasing Market Size study & Forecast, by Aircraft Type (Narrow Body, Wide Body, Regional Aircraft) by Lease Type (Wet Lease, Dry Lease, Damp Lease) and Regional Forecasts 2025-2035

The Global Aircraft Leasing Market is valued at approximately USD 172.88 billion in 2024 and is anticipated to expand at a robust CAGR of 11.10% during the forecast period 2025-2035. Aircraft leasing has emerged as a critical business model in aviation, enabling airlines to optimize fleet management, reduce upfront capital expenditure, and maintain operational flexibility. Leasing encompasses multiple arrangements, including wet, dry, and damp leases, allowing operators to access aircraft with varying degrees of crew, maintenance, and insurance provisions. Market growth is fueled by the increasing demand for air travel, rising airline network expansions, and the necessity to modernize aging fleets with fuel-efficient and next-generation aircraft.

Post-pandemic recovery in air travel has accelerated the demand for leased aircraft, as airlines seek to meet fluctuating passenger loads while mitigating financial risks. Narrow-body and wide-body aircraft remain the cornerstone of fleet strategies, while regional aircraft are increasingly favored for point-to-point connectivity and feeder routes. According to recent IATA reports, global passenger traffic is expected to return to pre-pandemic levels by 2025, driving leasing activity substantially. Technological advancements in aircraft efficiency, the shift towards environmentally sustainable fleets, and the cost-effectiveness of leasing models present compelling growth opportunities. However, volatility in fuel prices, geopolitical uncertainties, and regulatory frameworks continue to pose challenges throughout the forecast period of 2025-2035.

The detailed segments and sub-segments included in the report are:

By Aircraft Type:
• Narrow Body
• Wide Body
• Regional Aircraft

By Lease Type:
• Wet Lease
• Dry Lease
• Damp Lease

By Region:

North America
• U.S.
• Canada

Europe
• UK
• Germany
• France
• Spain
• Italy
• ROE

Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• RoAPAC

Latin America
• Brazil
• Mexico

Middle East & Africa
• UAE
• Saudi Arabia
• South Africa
• Rest of Middle East & Africa

Narrow-Body Aircraft Expected to Dominate the Market

Among aircraft types, narrow-body aircraft are projected to dominate the market, representing the majority of leased fleet units. Their cost-efficiency, operational flexibility, and suitability for short- and medium-haul routes make them highly attractive for airlines expanding regional and domestic networks. Meanwhile, wide-body aircraft are gaining prominence in long-haul operations due to rising passenger demand and the need for fleet modernization. Regional aircraft, though smaller in number, are expected to witness rapid adoption in emerging markets where connectivity between secondary cities is a priority. In essence, narrow-body aircraft lead in unit deployment, while wide-body and regional aircraft provide avenues for strategic growth.

Dry Lease Leads in Revenue Contribution

When segmented by lease type, dry leases currently generate the highest revenue, driven by airlines’ preference for operational independence and long-term fleet planning. Wet leases, which include crew, maintenance, and insurance, are pivotal during seasonal demand surges and market entry phases. Damp leases offer a hybrid solution, providing partial services along with aircraft. This reflects a nuanced revenue landscape: dry leases dominate financially due to their scale and adoption in large airline operations, while wet and damp leases grow steadily as airlines seek flexible and risk-mitigated operational solutions.

North America emerged as the leading region in 2025, benefiting from a mature aviation ecosystem, high air passenger traffic, and extensive airline leasing networks. Europe maintains a steady share, driven by airline collaborations, fleet modernization initiatives, and supportive financial frameworks. Asia Pacific is poised to be the fastest-growing region during the forecast period, underpinned by increasing air travel demand, low-cost carrier expansions, and the introduction of modern, fuel-efficient aircraft. Latin America and the Middle East & Africa are gradually increasing their leasing activities, leveraging partnerships with global lessors to modernize fleets and optimize operations efficiently.

Major market players included in this report are:
• AerCap Holdings N.V.
• Air Lease Corporation
• Avolon Holdings Limited
• BOC Aviation Limited
• SMBC Aviation Capital
• GECAS (GE Capital Aviation Services)
• Aviation Capital Group
• ICBC Leasing
• Dubai Aerospace Enterprise
• China Aircraft Leasing Group
• BBAM LLC
• Nordic Aviation Capital
• Orix Aviation Systems
• Willis Lease Finance Corporation
• Macquarie AirFinance

Global Aircraft Leasing Market Report Scope:
• Historical Data – 2023, 2024
• Base Year for Estimation – 2024
• Forecast period - 2025-2035
• Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
• Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within the countries involved in the study. The report also provides detailed information about crucial aspects, such as driving factors and challenges, which will define the future growth of the market. Additionally, it incorporates potential opportunities in micro-markets for stakeholders to invest, along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segments of the market are explained above:

Key Takeaways:
• Market Estimates & Forecast for 10 years from 2025 to 2035.
• Annualized revenues and regional-level analysis for each market segment.
• Detailed analysis of the geographical landscape with country-level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of the competitive structure of the market.
• Demand side and supply side analysis of the market. Show more