Global Used Aircraft Market Size Likely to Surpass at a CAGR of 6.57% By 2033

As per the current market research conducted by CMI Team, the global Used Aircraft Market size is expected to record a CAGR of 6.57% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 2,312.07 Million. By 2033, the valuation is anticipated to reach USD 4,348.16 Million.

Used Aircraft Market: Growth Factors and Dynamics

• Cost Savings: The presence of the used aircraft in the market enables airlines, private individuals, and even corporates expansion on their fleets without incurring high costs that come with purchasing new ones. This aspect of affordability allows operators to get more planes in such a set limit thereby making the used ones a cheaper way of enhancing one’s distribution network regionally as well as globally.

• Fleet Expansion in Emerging Markets: Some regions like Asia- pacific, Latin America and Africa have very high growth potential for travel appetite hence the need for cheaper options for fleet expansion. Pre-owned planes assist operators in vertical economies within developing countries to grow and increase their fleets in order to service the projected passenger traffic much faster with less of the new purchase pressure.

• Quick Delivery Times: In contrast to ordering and awaiting new airplanes which may take a long time to deliver, pre-owned planes can be purchased and made to work right away hence allowing for quick responding to the market needs. Such quick access is vital for the airlines when there is a need to increase or reduce capacity within existing resources due to seasons or sudden expected demand during that period.

• Increasing Demand for Business Aviation: There’s an increasing need for used business jets and turboprops because of increase in private and business travels. More and more companies and people are embracing versatile ways of travel, hence, buying used business planes is the least costly way of getting into that class of travel, especially for small and medium enterprises (SMEs).

• Aircraft Leasing Market Growth: Aircraft leasing firms especially in the business and commercial aviation industries are now investing in second-hand planes to meet their operational needs regardless of the duration. Leasing allows the airline and the operator to control capacity and financial exposure and hence pre-leased aircraft are a cheaper way of offering lease ready fleets.

• Advancements in MRO (Maintenance, Repair, and Overhaul): Improvements in MRO processes have increased the time spent in active service of second-hand aircraft making them cheaper for the market. Given the existence of world-class maintenance facilities all over the globe, operators are able to house maintain used aircraft which helps to machine and operational cost and improve safety.

• Environmental Concerns and Efficiency Focus: Fairly Young (0-10 years) Used aircraft tend to have additional innovations such as fuel saving technologies which tend to be less expensive and more appealing to the airlines. These previous generation aircraft models are ideal for operators who wish to enhance environmental performance at a lesser cost than acquiring a new fleet as they enable better fuel consumption and low emissions.

• Flexible Financing Options: Leasing companies and banks are increasingly developing specialized financing solutions for the second-hand aircraft market. This assists in offering the existing or new aircraft types on financial terms that are easy to meet especially for the small airlines and private operators in regions where the prices of airplanes are very low.

Used Aircraft Market: Partnership and Acquisitions

• In 2024, AerCap Holdings N.V. revealed a senior note offering through its subsidiaries, AerCap Ireland Capital Designated Activity Company and AerCap Global Aviation Trust. This consists of $1.3 billion in 4.625% Senior Notes maturing in 2029 and $1.1 billion in 4.950% Senior Notes maturing in 2034, which are guaranteed on a senior unsecured basis by AerCap and several subsidiaries.

• In 2024, Airbus and TotalEnergies established a strategic collaboration aimed at promoting sustainable aviation fuels (SAF), with the goal of achieving net carbon neutrality in aviation by 2050. SAF has the potential to lower CO2 emissions by as much as 90% compared to traditional fossil fuels.

Report Scope

Used Aircraft Market: COVID-19 Analysis

The COVID-19 pandemic had restrained the growth of the Global Used Aircraft Market because there was a fall in airline travel. Severe and comprehensive lockdowns, mobility curbs and dwindling fares confidence resulted to unprecedented losses in most airlines forcing most operators to put on hold or even shelve any plans of increasing their fleets which included buying second hand planes.

With airline companies trying to find ways of generating cash, the focus turned to efficient usage of resources and cost containment as opposed to the purchase of more planes. Airborne tourism has over the years generated more aircraft such that the sharp rise in almost every fleet have caused sharp depreciation, making it most difficult for ones willing to sell the planes to do it at fair prices.

Business aviation as a secondary market segment was less affected but such constraints were recorded with the decline in corporate travel owing to the increasing globalization & advent of virtual meeting technologies and remote working. Accordingly, the market for pre-owned aircraft experienced a significant downturn, although it was short-lived, during the period of the health crisis.

List of the prominent players in the Used Aircraft Market:

• AerCap Holdings N.V.
• Airbus S.A.S.
• Aircastle Limited
• Aviation Capital Group LLC
• AVITAS Inc.
• Avolon Aerospace Leasing Limited
• Boeing Capital Corporation
• Bombardier Inc.
• Embraer S.A.
• Falcon Aviation Services
• General Electric Capital Aviation Services (GECAS)
• International AirFinance Corporation
• Jetcraft Corporation
• Textron Aviation Inc.
• Willis Lease Finance Corporation
• Others

The Used Aircraft Market is segmented as follows:

By Aircraft Type

• General Aviation
• Military Aircraft
• Business Aircraft
• Commercial Aircraft

By End-User

• Government & Military
• Private Owners
• Charter Services
• Airlines

By Age of Aircraft

• 21+ Years
• 11-20 Years
• 0-10 Years

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America