It has been a fascinating year for business aviation in Asia Pacific, bringing us into 2020 with the promise of strong growth potential in the region.
For several years, we have been discussing the possibility of Asia becoming Jetcraft’s second-largest market, overtaking Europe and behind only the US. While Europe’s use of light aircraft means it is likely to retain its number two position in terms of units, Asia’s fleet may soon surpass it in value, as buyers here predominantly choose large, long-range jets.
The reasons why larger aircraft are favored by Asian buyers are twofold. First, the infrastructure across the continent is restricted for business aviation users. For example, there are only around 250 airports in China that cater to private jets; while the US – which has a similar landmass – has more than 5,500. The need to fly longer distances between airports demands an aircraft with those mission capabilities.
Second, these buyers’ missions are frequently intercontinental, requiring a large-cabin airplane that has the range to travel from Singapore to Los Angeles, or Hong Kong to London. As the leading manufacturers all invest in their long-range programs, we’re seeing significant interest in Bombardier’s Global 7500, Gulfstream’s new G700, and Dassault’s Falcon 8X and 6X models.
With new aircraft flooding the market, more jets are being sold out of the region. At Jetcraft, we’re positioned to both source a new model and take an existing asset into our inventory or handle its sale, so buyers can upgrade with ease.
The start of a new decade should bring increased buyer confidence, stronger infrastructure, and perhaps the release of even more groundbreaking new aircraft to this market. Here at Jetcraft, we look forward to seeing Asia Pacific business aviation continue to thrive.
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