South East Asia Business Jet Market Top Key Players (Bombardier, Cessna, Gulfstream, Hawker, Airbus, Boeing, Embraer, Dassault)

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.

Market Overview

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

Key Developments in the Market

• January 2018: Aerolu00edneas 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

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Technological Advancements

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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