According to a new report from Intel Market Research, the global Aircraft ACMI Leasing for Passenger market was valued at USD 2,852 million in 2024 and is projected to reach USD 5,336 million by 2032, growing at a CAGR of 9.6% during the forecast period 2025–2032. The market is highly fragmented with a mix of global and regional players competing on fleet quality, operational reliability, and cost efficiency. Market Overview Aircraft ACMI (Aircraft, Crew, Maintenance, and Insurance) leasing is a specialized segment of aviation leasing where lessors provide not just the aircraft but also the crew, maintenance, and insurance packages. This model is particularly attractive for airlines seeking to expand capacity without heavy capital investment or to manage seasonal demand fluctuations. The global market is primarily driven by the rapid expansion of low-cost carriers (LCCs) in emerging markets, increasing air travel demand in Asia-Pacific, and the need for operational flexibility among traditional carriers.
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According to a new report from Intel Market Research, the global aircraft ACMI leasing for passenger market is projected to grow from USD 2.85 billion in 2024 to USD 5.34 billion by 2032, at a CAGR of 9.6%. This growth is attributed to the increasing number of air passengers globally, which is expected to double by 2040, and the growing preference for flexible fleet management among airlines.
The market is characterized by a shift towards wet-leasing (ACMI) over dry-leasing, especially in regions with less developed aviation infrastructure. Additionally, the rise of ultra-long-range aircraft has enabled more ACMI agreements for long-haul operations, a segment that was previously dominated by owned fleets.
Europe and North America are mature markets with high penetration of ACMI services, particularly for holiday charters and seasonal routes. Asia-Pacific is the fastest-growing region, driven by India and China's expanding middle class and increasing disposable income. Latin America and Africa are emerging markets with growing potential but currently represent a smaller share.
Rising Demand for Air Travel: Global passenger traffic is expected to grow at 4-5% annually, creating a need for flexible capacity solutions.
Cost Efficiency: ACMI leasing allows airlines to avoid large capital outlays and instead pay operational costs only when needed.
Operational Flexibility: Airlines can quickly add or reduce capacity without long-term commitments.
Market Entry and Expansion: New entrants and existing players expanding into new markets use ACMI to mitigate risk.
Regulatory Challenges: Different countries have varying regulations on wet-leasing, creating complexity.
High Initial Costs: While cheaper than purchasing, ACMI still requires significant investment compared to dry leases.
Dependence on Lessor: Operators rely heavily on the lessor's operational capability.
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Emerging Markets: Asia-Pacific and Middle East present substantial growth opportunities.
Technological Advancements: Better data analytics and predictive maintenance can make ACMI more efficient.
Partnerships: Collaborations between lessors can create more comprehensive global offers.
Atlas Air Inc. (U.S.)
ABX Air (U.S.)
ASL Aviation Holdings (Ireland)
Air Atlanta Icelandic (Iceland)
Smartlynx (Latvia)
Avion Express (Lithuania)
Titan Airways (U.K.)
Hi Fly (Portugal)
Air Charter Service (U.K.)
euroAtlantic (Portugal)
GetJet Airlines (Lithuania)
21Air, LLC (U.S.)
Other notable players include Delta Air Lines (through its partnership with others), Qatar Airways, and Ethiopian Airlines, which have substantial in-house ACMI capacity or partnerships.
By Aircraft Type
Narrow-body: Dominates the market due to high utilization in regional and short-haul international routes.
Wide-body: Used for long-haul and high-density routes.
Turboprop: Popular for regional connectivity in emerging markets.
By Lease Type
Wet Lease (ACMI): Most common, includes aircraft, crew, maintenance, insurance.
Damp Lease: Includes aircraft and crew but not maintenance.
Dry Lease: Aircraft only, with separate agreements for other services.
By Application
Scheduled Passenger: Traditional application, largest segment.
Charter: Seasonal and event-based, highly variable.
Government and Humanitarian: Steady demand, less affected by economic cycles.
The market is expected to continue its strong growth, particularly in Asia and the Middle East. The rise of electric and hybrid aircraft may change the landscape post-2030, but for now, ACMI remains a key tool for airlines to remain agile.
For a more detailed analysis, you can refer to the full report.
Download FREE Sample Report: Aircraft ACMI Leasing for Passenger Market - View in Detailed Research Report
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