Kroll Bond Rating Agency (KBRA) expects the market for widebody aircraft to undergo meaningful changes over the next several years as a result of upcoming lease expiries, slowing widebody orders, and continued bifurcation of liquidity based on aircraft size. In addition, the introduction of several new widebody types through 2020 could have significant implications for investors over the long term. The abundance of aircraft options suggests that few widebody types will develop market mass and a liquid secondary market, which could limit re-leasing and disposal options and potentially hinder investor returns and debt recoveries.