2018 Asia-Pacific Business Jet Market Overview (Part 2)

 
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Part 2: Country Snapshots

Greater China

Greater China, including Mainland China, Hong Kong SAR, Macau SAR and Taiwan, had a total fleet of 512 operational business jets. Greater China is also home to nine of the 10 top business jet operators in the Asia-Pacific region. Overall, Greater China saw 33 new deliveries along with 13 pre-owned additions and 47 deductions. Despite boasting the largest fleet in the region in 2018, the performance of Greater China has weakened as compared to the previous years, with the first negative growth in recent years, and many prominent operators witnessing large reductions in their fleet size. The slowed fleet growth can be seen as a warning sign of decreasing economic activity amidst increasing tensions with the US regarding the trade war.

Australia

With 185 operational business jets, Australia is home to the second largest fleet in the Asia-Pacific region. The fleet has increased by one since yearend 2017, an increase of 1% attributed to five new deliveries, 11 pre-owned additions and 15 deductions. The light size category remains the most dominant size category in the country, serving domestic tourism and corporate use, and accounts for 43% of the country’s fleet. The Australian fleet has an average age of 20 years making it one of the oldest in the region. Although the country’s fleet is the second largest in the Asia-Pacific region, the above average age of the fleet may be seen as a major concern for the operators, who will have to replace the fleet soon to ensure safety and operational feasibility. The average age of the reductions in 2018 was 19 years.

India

With 138 operational business jets, India has the third largest market in the Asia-Pacific region. The fleet has decreased by two since yearend 2017; a decrease of 1% attributed to eight pre-owned additions and 10 deductions. The large size category is the most dominant size category in the country, accounting for 31% of the country’s fleet, followed by light (28%) and medium (22%) sized jets.

Malaysia

Malaysia had 63 operational business jets in 2018. The fleet size increased by three since yearend 2017; an increase of 5%, attributed to two new deliveries, six pre-owned additions and five deductions. The large and medium size categories are the most dominant size categories in the country, both accounting for 24% of the country’s fleet, closely followed by long range (21%) sized jets. The Malaysian fleet has an average of 19 years, significantly higher than the region’s average of 13 years.

Singapore

Singapore had 57 operational business jets in 2018. The fleet size increased by five since yearend 2017; an increase of 10%, attributed to four new deliveries, 13 pre-owned additions and 12 deductions. 2018 has been a very eventful year for the Singapore business aviation market, with a few new players entering the scene and some operators increasing their fleet size in an attempt to capitalize on the void created by the exit of Zetta Jet in 2017. The fleet size, which had seen a huge contraction in 2017 (shrinking by 17%) is showing signs of revival and the country, which has positioned itself as a hub for business aviation is finally showing the positive effects of facilities catering to the industry in the form of an increasing fleet size. 47% of the jets belong to the long-range size category, followed by medium (21%) and large (18%) sized jets.

Japan

Japan had 55 operational business jets in 2018. The fleet size increased by one since yearend 2017.  Overall the fleet saw seven new deliveries, one pre-owned additions and seven deductions. 38% of the jets belong to the light size category, followed by long-range (27%) and large (13%) sized jets. Textron and Gulfstream are the most popular OEMs in the country accounting for 56% and 28% of the fleet respectively.

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Philippines

The Philippines had 48 operational business jets in 2018. The fleet size which remained unchanged from yearend 2017 witnessed five pre-owned additions and five deductions. 33% of the jets belong to the light size category, followed by medium (27%) and large (23%) sized jets.  The country’s fleet has an average of 17 years, higher than the region’s average of 13 years. Textron and Gulfstream are the most popular OEMs in the country accounting for 44% and 27% of the fleet respectively.

Indonesia

Indonesia had 46 operational business jets in 2018. The fleet has increased by three since yearend 2017; an increase of 7%, attributed to six pre-owned additions and three deductions. 33% of the jets belong to the large size category, followed by light (26%) and medium (17%) sized jets. Textron and Embraer are the most popular OEMs in the country accounting for 33% and 28% of the fleet respectively.

Thailand

Thailand had 39 operational business jets in 2018. The fleet has increased by two since yearend 2017; an increase of 5%, attributed to one new delivery, three pre-owned additions and two deductions. The long-range size category is the most dominant size category in the country, accounting for 28% of the country’s fleet, followed by medium (23%) sized jets. Textron and Gulfstream are the most popular OEMs in the country accounting for 33% and 28% of the fleet respectively.

South Korea

South Korea had 20 operational business jets in 2018. The fleet size decreased by one since yearend 2017; a decrease of 5%. Korean Air was the largest operator in the country and operated 45% of the fleet. The corporate airliner and long-range size category are the most dominant size categories in the country, both accounting for 25% of the country’s fleet, followed by light (20%) sized jets. Textron and Boeing are the most popular OEMs in the country accounting for 45% and 20% of the fleet respectively.

New Zealand

New Zealand had 19 operational business jets in 2018. The fleet size increased by three since yearend 2017; an increase of 19%, attributed to one new delivery, three pre-owned additions and one deduction. The light size category is the most dominant size category in the country, accounting for 32% of the country’s fleet, followed by very-light and medium sized jets, both accounting for 21% of the fleet. Textron and Dassault are the most popular OEMs in the country accounting for 53% and 21% of the fleet respectively.