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(USGovernment-News.Com, September 26, 2017 ) The growth of the business aircraft market in the region is dominated with the upper end of large jets attracting significant sales and profits along with higher margins compared to the middle and lower ends of the business jet market. However in the SE Asia, the trend of an increase in owner’s aircraft has grown to a significant extent which provides for a significant growth opportunity in the small business jet category. Business jet market in the region is however predominated by business jet charter.
The largest business charter fleet in the region is based in India, China and Australia. There is a significant number of millionaires and billionaires which comprises of the major chunk in the charter demand, where China is the major leader in the business charter market. In addition, the charter fleet in the country is dominated by large cabin and long range aircraft with more than 70% share in the business jet market. Gulfstream and Bombardier’s aircraft dominate around 78% of the fleet in the business jet charter market in the country.
Expansion of trade in the developing markets, especially in the region has witnessed a significant increase demand for business travel including the demand for business jet charter along with owned private jets. Since it is a relatively new market, business jet owners in the region are emphasizing to reduce the administration and running costs of operating the business aircraft and are thereby considering the benefits of chartering and opting for fractional ownership options. With increase in mobile applications, media, and websites access to business jet charter has become easier and convenient than ever. However with the increase in demand and availability of jet charter, a number of challenging factors have begun to influence the market like security concerns and infrastructural issue. The demand from the replacement market is expected to increase which will lead to the growth of the market.
Market Segmentation
The market for business jet market in South East Asia has been segmented by aircraft range, aircraft seating capacity, and popular sources and destinations.
1000-3000 NM 3000-5000 NM Above 5000 NM On the basis of seating capacity the market is segmented by
Up to 10 Passengers 10 to 25 Passengers 25 and above passengers On the basis of region the market is segmented into
China India Indonesia Australia Thailand Philippines Malaysia Singapore Others The major players in the South East Asia business jet market are
Club One Air Asia Corporate Jet Business Aviation Asia Celebi Airports Services Pvt. Ltd. China Eastern Deer Jet Execujet, etc. Enquire more details of the report at: http://www.orbisresearch.com/contact/purchase/224115
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