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May 18, 2023

Growing Aircraft Leasing Market Prompts Demand for Skilled Professionals

Growing Aircraft Leasing Market Prompts Demand for Skilled ProfessionalsAlready making waves, the global aircraft leasing market is expecting remarkable growth. According to Statista, by 2029, the global aircraft leasing market is estimated to reach a value of 295.18 billion U.S. dollars. Aeroclass, an aviation digital learning platform, explains that this growth is attributed to a number of factors, including the increased demand for air travel and the need for airlines to cut costs.

“Ensuring sustainable and profitable operations is crucial for any airline, and leasing can play a key role in achieving this goal,” states Jurgita Lukauskiene, Aeroclass CEO. “Leasing an aircraft instead of purchasing one offers several advantages, including increased financial liquidity, greater capacity flexibility, rapid expansion opportunities, fleet consistency, and reduced maintenance costs.”

“Airlines have increasingly turned to leasing as a means of acquiring aircraft, rather than purchasing them outright,” explains Dr. Bijan Vasigh, Aeroclass instructor and Professor at Embry-Riddle Aeronautical University. “The industry is dominated by several major leasing companies, which hold a significant market share and play a prominent role in the industry. The growth can be attributed to the flexibility offered by leasing, enabling airlines to adjust their fleet sizes based on demand and market conditions.”

With the growth of the aircraft leasing market, it is anticipated that the demand for skilled professionals within the industry will also increase, which could further exacerbate the talent shortage the aviation industry is currently facing. According to Lukauskiene, “We have observed a surge in demand for our leasing-related courses, which cover a broad range of subjects including aircraft management, maintenance, finance, and legal matters. Due to the complexity of the field, training competent professionals can be a challenging and costly undertaking. Therefore, online training has emerged as a cost-effective alternative for individuals seeking to acquire fundamental knowledge or deepen their industry expertise without incurring substantial expenses associated with in-person training.”

Jurgita Lukauskiene highlights that some of the most in-demand courses at Aeroclass presently are “Overview of the Aviation Industry” by Enda Corneille, “Negotiating Aircraft and Engine Lease Agreements Effectively,” and “Aircraft Financing and Leasing Fundamentals” by Donal Hanley. “This surge in interest indicates that the leasing market is gaining traction, and the demand for knowledgeable specialists in the field is likely to grow.”