Global Aviation Asset Management Market size was valued US$ XX Bn. in 2019 and the total revenue is expected to grow XX % from 2019 to 2027, reaching nearly US$ 282.21 Bn.
Aviation asset management can be considered as a service where companies provide end-to-end life cycle management services to many financial institutes, leasing companies, and aircraft operators. The purpose of aviation asset management is to preserve the value of aircraft assets.
The report provides a detailed study of factors that will drive and restrain the growth of the aviation asset management market. Technological growths in various connected technologies are allowing companies to integrate their systems with the IoT, cloud, predictive analysis, and other data management tools. Such as, in 2017, IFS labs started a program to integrate blockchain technology with many aviation asset management processes. A modern aircraft contains nearly two to three million parts, which essential to be managed properly for smooth operations. This generated a demand for a secure, verifiable, and traceable database protocol, which can be fulfilled by blockchain technology. However, stringent industry regulations restrain the growth of the aviation asset management market globally.