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(I-TravelNewswire.Com, May 12, 2018 ) The South East Asia (SEA) business jet market is expected to register a high CAGR during the forecast period, 2018 to 2023. In South East Asia, China accounted for 60% of market share in 2015.
The growth of the SEA business aircraft market is dominated by upper end of large jets attracting significant sales and profits, along with higher margins, compared to middle and lower ends. The largest business charter fleet in the region is based in India, China and Australia. According to a Capgemini report, by the end of 2016, there were 28, 91,000 millionaires in Japan, 11,29, 000 in China and 2, 55,000 in Australia. The high number of HNIs in the region is expected to drive the business market.
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Gulfstream and Bombardier’s aircraft dominate around 78% of the fleet in the business jet charter market in the country. Organizations, including ASEAN and APEC, along with International Civil Aviation Organization (ICAO), International Business Aviation Council (IBAC) and the Asian Business Aviation Association (AsBAA) have been continuously involved to revise transportation regulations, in an effort to implement more efficient solutions for business jet operations
One of the major areas of development that the business jet manufacturers have been involved is in the introduction of the supersonic business jet (SSBJ). These business jets are planned to be small, intended to travel at speeds akin to Mach 1.0 and are typically designed to carry about 10-12 passengers. At present, SSBJs are only a concept, where several manufacturers have been working on the designing of these jets. For instance, Aerion SBJ is a concept for a supersonic business jet, designed by Aerion Corporation.
China to Dominate the Market Growth
China holds 60% of the market with a fleet size of 300 as of 2015. Business jet market in China is expected to register a CAGR close to 10% during the forecast period, 2018 to 2023.
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Key Developments in the Market
January 2018: Aerolíneas Ejecutivas expands fractional fleet in Mexico with new Cessna Citation Latitude aircraft.
January 2018: Bombardier debuts global 7000 Mock-Up at Jetex private terminal in Dubai
Major players: BOMBARDIER, CESSNA, GULFSTREAM, HAWKER, AIRBUS, BOEING, EMBRAER, DASSAULT
Reasons to Purchase this Report
The report analyses how the jet fuel price will impact the south east asia business jet industry.
Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
Study on the aircraft type segment is gaining popularity in the region
Study on the regions that are expected to witness fastest growth during the forecast period.
Identify the latest developments, market shares and strategies employed by the major market players.
3 months analyst support along with the Market Estimate sheet in excel.
Customization of the Report
This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.
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Club One Air,Asia Corporate Jet, Business Aviation Asia, Celebi Airports Services Pvt. Ltd, China Eastern, Deer Jet, Execujet, Global Jet, Hawker Pacific, Hong Kong Jet, Jet Aviation, Jetcraft, Korean Air, Lily Jet, Lion Air, Metrojet, Paramount Business Jets, Vista Jet, Pel-Air Aviation, Premiair, Sino Jet, Tag Aviation Asia, Asian Sky Group, Sapura Aero, Air Charter International, Pacific Airlift
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