United States Aircraft Leasing Market Size
The United States Aircraft Leasing Market size is projected at USD 50.54 billion in 2026 and is expected to hit USD 96.97 billion by 2034 with a CAGR of 8.43%. The market increases from USD 46.59 billion in the 2025 base year, implying an absolute addition of USD 50.38 billion through 2034. Leasing demand is being evaluated across lease type, aircraft type, lease term, and lessee type, alongside fleet availability, financing conditions, and competitive positioning.
Key Takeaways
- Dry leases dominate lease-type revenues with USD 32.62 billion in 2026, equivalent to 64.54% of the total; the category reaches USD 63.20 billion by 2034 at an 8.62% CAGR.
- Narrow-body aircraft lead aircraft-type revenues with USD 25.38 billion in 2026, representing 50.22%; they reach USD 49.43 billion in 2034 at an 8.69% CAGR, the fastest aircraft-type rate.
- Wet leases account for USD 17.92 billion, or 35.46%, in 2026 and advance to USD 33.77 billion by 2034 at an 8.24% CAGR.
- Freighters contribute USD 8.71 billion in 2026, or 17.23%, and rise to USD 16.80 billion by 2034 at an 8.56% CAGR.
- The supplied dataset covers the United States nationally and does not provide county-level forecasts; therefore, no unsupported dominant/fastest-growing county or emerging-country figure is assigned.
Aircraft leasing covers contractual provision of aircraft by asset owners and financing platforms to airline and cargo operators through dry, wet, and other tenure structures. In 2026, dry leases contribute 64.54% of the USD 50.54 billion total, versus 35.46% for wet leases. Narrow-body aircraft contribute 50.22%, wide-body aircraft 32.55%, and freighters 17.23%. In the base year, corresponding aircraft-type values were USD 23.35 billion, USD 15.22 billion, and USD 8.02 billion. For production context, Airbus delivered 793 commercial aircraft globally in 2025, 4% more than 2024, including 607 A320-family units.
Explore more data points, trends and opportunities Download Free Sample Report
United States Aircraft Leasing Market Trends
New-Technology Fleet Placement Accelerates
New-generation narrow-body platforms are increasingly central to lessor portfolios as airlines prioritize fuel efficiency and fleet flexibility. Airbus delivered 793 commercial aircraft during 2025, including 607 A320-family, 93 A220, 36 A330 and 57 A350 aircraft, while recording 1,000 gross orders and ending the year with an 8,754-aircraft backlog.
Technology adoption is also visible within leasing portfolios. SMBC Aviation Capital reported that new-technology aircraft represented 80% of its owned fleet in FY2025 and delivered USD 3.4 billion of aircraft across 59 new units. AerCap ended 2025 with 283 new aircraft on order and 1,457 of its 1,501 owned aircraft on lease, demonstrating approximately 97% placement of the owned portfolio.
United States Aircraft Leasing Market Drivers
Airline Fleet Expansion and Capital-Efficient Capacity Addition
Fleet shortages and strong passenger-capacity requirements encourage carriers to lease rather than commit all capital to direct ownership. Airbus' 2025 deliveries increased 4% to 793 aircraft, while its backlog reached 8,754 units. AerCap executed 371 lease agreements, 145 purchases and 189 sales during 2025 and arranged approximately USD 13.2 billion of financing, illustrating the transaction volumes supporting aircraft availability.
United States Aircraft Leasing Market Restraints
OEM Supply Constraints Limit Near-Term Aircraft Availability
Production bottlenecks can restrict lessors' ability to source high-demand aircraft despite strong airline requirements. Airbus delivered 793 aircraft against an 8,754-unit year-end backlog in 2025, while its wide-body backlog alone reached 1,124 aircraft. AerCap had 283 aircraft on order at year-end, including 161 A320neo-family and 92 Boeing 737 MAX aircraft, exposing leasing pipelines to OEM and engine delivery schedules.
United States Aircraft Leasing Market Opportunities
New-Technology Narrow-Body Fleet Modernization
Fuel-efficient aircraft create substantial opportunities for lessors serving carriers replacing older fleets. In July 2026, SMBC Aviation Capital ordered 200 narrow-body aircraft—100 Airbus A320neo-family and 100 Boeing 737 MAX units—and contracted for up to 90 additional LEAP-1A engines. Its portfolio already had 80% new-technology aircraft, while the expanded platform included 430 new-technology aircraft on order valued at USD 26 billion.
Challenges in United States Aircraft Leasing Market
Asset Pricing, Funding Costs and Residual-Value Exposure
Aircraft leasing remains capital intensive, requiring disciplined debt management and residual-value control. AerCap reported USD 71.67 billion of assets and USD 43.57 billion of debt at year-end 2025, although debt declined 4% year over year. Its owned passenger fleet averaged 7.3 years of age with 7.1 years of remaining contracted lease term, highlighting the long-duration asset and financing exposure inherent in leasing.
Report Scope
| Report Metric | Details |
|---|---|
| Market Size in 2025 | USD 46.61 Billion |
| Market Size in 2026 | USD 50.54 Billion |
| Market Size in 2034 | USD 96.97 Billion |
| CAGR | 8.43% (2026-2034) |
| Base Year for Estimation | 2025 |
| Historical Data | 2022-2024 |
| Forecast Period | 2026-2034 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Supply Chain Disruption, Growth Factors, Environment & Regulatory Landscape and Trends |
Explore more data points, trends and opportunities Download Free Sample Report
United States Aircraft Leasing Market Segmentation
The market is segmented by lease type, aircraft type, lease term and lessee type. Quantified input data show dry leases controlling 64.54% of 2026 revenues, while narrow-body aircraft account for 50.22%. The supplied tables provide numerical forecasts for lease type and aircraft type; lease-term and lessee-type splits are therefore discussed qualitatively rather than assigned unsupported values.
By Lease Type
Dry lease is the largest subsegment, increasing from USD 30.03 billion in 2025 to USD 32.62 billion in 2026 and USD 63.20 billion by 2034. It represents 64.54% of 2026 revenues and records an 8.62% CAGR during 2026–2034.
Wet lease expands from USD 16.56 billion in 2025 to USD 17.92 billion in 2026 and USD 33.77 billion by 2034, recording an 8.24% CAGR. Dry lease is therefore also the faster-growing lease-type category at 8.62%, exceeding wet lease by 0.38 percentage points.
By Aircraft Type
Narrow-body aircraft constitute the largest category at USD 25.38 billion in 2026, up from USD 23.35 billion in 2025, and are forecast to reach USD 49.43 billion by 2034. Their 50.22% contribution and 8.69% CAGR reflect strong suitability for high-frequency domestic and short/medium-haul networks.
Narrow-body aircraft are also the fastest-growing aircraft category at an 8.69% CAGR. Freighters follow at 8.56%, rising from USD 8.71 billion in 2026 to USD 16.80 billion in 2034, while wide-body aircraft advance at 8.05% from USD 16.45 billion to USD 30.55 billion.
By Lease Term
Long-term leases, short-term leases and medium-duration agreements address different fleet-planning requirements. The supplied numerical dataset does not allocate the USD 50.54 billion 2026 total or 8.43% overall CAGR among these three categories; consequently, no fabricated subsegment valuation or CAGR is assigned.
Long-term contracts typically emphasize predictable aircraft access, while short- and medium-term arrangements support seasonal capacity, fleet transitions and delivery-gap management. AerCap's 7.1-year average remaining contracted lease term at year-end 2025 provides external evidence of the importance of multi-year commitments among major lessors.
By Lessee Type
Commercial airlines and cargo operators constitute the specified lessee categories. The USD 50.54 billion 2026 total encompasses both categories, but the mandatory input tables do not provide individual values, shares or CAGRs; numerical allocation between them would therefore exceed the supplied evidence.
Commercial-airline requirements are supported by passenger fleet renewal, whereas cargo operators generate freighter demand. Within the quantified aircraft split, freighters represent USD 8.71 billion in 2026 and 17.23% of aircraft-type revenues, advancing at an 8.56% CAGR to USD 16.80 billion in 2034.
United States Aircraft Leasing Market Segmentations
By Lease Type
- Dry Lease
- Wet Lease
By Aircraft Type
- Narrow-body
- Wide-body
- Freighters
By Lease Term
- Long-term Leases
- Short-term Leases
- Medium
By Lessee Type
- Commercial Airlines
- Cargo Operators
United States Aircraft Leasing Market Outlook
The United States national market rises from USD 46.59 billion in 2025 to USD 50.54 billion in 2026 and USD 96.97 billion by 2034, representing an 8.43% CAGR. Within the national total, dry leases contribute 64.54% in 2026 and wet leases 35.46%; aircraft-type contributions are 50.22% narrow-body, 32.55% wide-body and 17.23% freighters.
County-level values, production volumes and geographic contribution percentages are not contained in the supplied mandatory dataset. Accordingly, the USD 50.54 billion 2026 and USD 96.97 billion 2034 figures are retained exclusively as national values, without allocating unsupported percentages to individual states or counties.
Top players in United States aircraft leasing market
- AerCap Holdings N.V.
- SMBC Aviation Capital
- Avolon
- BOC Aviation
- Aviation Capital Group
- Aircastle
- Carlyle Aviation Partners
- Macquarie AirFinance
- Dubai Aerospace Enterprise
- BBAM
- Jackson Square Aviation
- Sumisho Air Lease Corporation
Top Two Companies
- AerCap Holdings N.V.
competitive positioning:
A precise United States revenue share is not disclosed in the supplied dataset and is therefore not estimated. Operational scale nevertheless positions AerCap among the industry's largest platforms: its portfolio comprised 3,500 owned, managed or ordered aircraft, engines and helicopters at year-end 2025. AerCap had 1,501 owned aircraft, with 1,457 leased, equivalent to roughly 97% placement. During 2025 it executed 371 lease agreements, 145 purchases and 189 sales and completed approximately USD 13.2 billion of financing. Its 283-aircraft orderbook further supports fleet renewal capacity.
- SMBC Aviation Capital
competitive positioning:
An evidence-based United States percentage share is likewise unavailable and is not fabricated. Following the Sumisho Air Lease transaction, the broader platform reported 1,700 owned, serviced and committed aircraft serving more than 170 airlines, with USD 89 billion of owned, serviced and committed assets. Its new-technology orderbook comprised 430 aircraft valued at USD 26 billion, with 90% forward placed through Q1 2028. FY2025 lease revenue reached USD 1.973 billion, while aircraft sales totaled USD 2.6 billion across 74 units.
Recent Developments in the United States Aircraft Leasing Market
- 2026: SMBC Aviation Capital announced orders for 200 new narrow-body aircraft—100 Airbus A320neo-family and 100 Boeing 737 MAX aircraft—plus up to 90 LEAP-1A engines.
- 2026: Sumitomo Corporation, SMBC Aviation Capital, Apollo, and Brookfield completed the acquisition of Air Lease Corporation on April 8 and renamed it Sumisho Air Lease Corporation.
- 2026: AerCap reported that its 2025 operations generated 371 lease agreements, 145 purchases, 189 asset sales, and approximately USD 13.2 billion of financing transactions.
- 2025: Avolon ordered 90 Airbus aircraft—75 A321neos and 15 A330neos—taking its Airbus commitments to 413 aircraft, with deliveries scheduled through 2033.
- 2025: The Air Lease acquisition agreement valued common equity at approximately USD 7.4 billion and the transaction at approximately USD 28.2 billion, including assumed or refinanced debt net of cash.
Research Methodology
The assessment uses 2025 as the base year, 2026 as the current year, historical context for 2022–2024 and forecasts through 2034. The mandatory quantitative tables serve as the primary source for valuation, segment contribution and CAGR calculations: USD 46.59 billion in 2025, USD 50.54 billion in 2026 and USD 96.97 billion in 2034 at an 8.43% CAGR. Segment shares were calculated directly from supplied 2026 values, while external corporate and OEM disclosures were used only for production, fleet, transaction and competitive context. No missing county, lease-term, lessee-type or company-share figures were fabricated.
Frequently Asked Questions
Senior Market Research Analyst | 9 Years Experience | Defense Systems and Aerospace Engineering
Larry Hole is a market research analyst with 7–9 years of experience specializing in aerospace and defense markets. Contributed to 70+ research reports for global clients. Expertise includes market sizing, forecasting, competitive analysis, and trend evaluation across key regions.