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The Middle East and Africa business jet market is expected to register a CAGR of 13.83%. Key highlights. Largest Market by Body Type – Large Jet: The increasing popularity of large jets due to their comfort, convenience and ability to travel long distances is estimated to drive the demand for large jets in the region.
NEW YORK, Jan. 30, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Middle East and Africa Business Jet Market – SIZE, SHARE, COVID-19 Impact and Forecasts to 2028” – https://www.reportlinker. com/p06381494/?utm_source=GNW
Fast-growing market in body type – Large jet: Consumer preference for high-premium quality and comfortable aircraft that offer a large, personalized space is driving the adoption rate for large jets.
The largest market in the country – Qatar: The purchase of large jets by various companies or individuals in various sectors will drive the country’s market growth.
Key market trends
A large jet is the largest part of the body type.
Middle East and Africa They will account for 3 percent of global business jet shipments from 2016 to 2021. Post-pandemic demand for business jets in the region has risen 113 percent by 2021, particularly in the larger business jet segment.
The largest jet segment controls the current operational fleet, with 293 aircraft out of a total of 588 aircraft. UHNWIs are major users of large commercial aircraft in the region.
In the year In 2021, air charter service providers have shown strong demand across the region, with new memberships for business aviation increasing. For example, in 2021, the United Arab Emirates-based air charter service provider VistaJet reported nearly 100% growth in new memberships in January and June 2021 compared to the first half of 2020.
Bombardier is the leader in the Middle East business jet fleet as of July 2022 with 23% of the current operational fleet size, followed by Gulfstar and Boeing, with 21% and 14% respectively. Player In terms of current operational fleet, 22% of jets, followed by Cessna, BAE and Gulfstream with 21%, 15% and 13% of current fleet, respectively. The increase in UHNWIs in the region is expected to help the business jet segment in the country. More than 200 aircraft are expected to be delivered by 2022-2028.
Qatar is the largest part of the country.
The Middle East and Africa will account for 3% of the global business jet supply in 2021. After the pandemic, the demand for business jets in this region will increase by 113% in 2021 compared to 2020. For the first time since the pandemic, the number of flyers on private jets has increased. The companies have seen an increase in long-haul travel from the Middle East to the US and European countries.
Adoption of large jets is more widespread in the Middle East and Africa. In terms of the current operational fleet, the large jets will account for 50% of the total commercial jet fleet in the Middle East and 36% in the African region by July 2022. 7500.
In the year In 2021, air charter service providers in the Middle East and Africa region have shown high demand due to the increase in new membership for business aviation. For example, in In 2021, UAE-based air charter service provider VistaJet reported nearly 100% growth in new memberships in January and June 2021 compared to the first half of 2020.
Bombardier is the leading OEM with 23% of the Middle East business jet fleet as of July 2022, followed by Gulfstream and Boeing at 21% and 14% respectively. In terms of the current operational fleet, 22% are jets, followed by Cessna, BAE and Gulfstream, with 21%, 15% and 13% of the current fleet. The increase in UHNWI individuals in the region is expected to help the commercial jets in the region, which is expected to reach around 200 commercial jets by 2022-2028.
Competitive landscape
The Middle East and Africa business jet market is fairly concentrated, with the top five companies accounting for 99.21%. Major players in this market are Airbus SE, Bombardier Inc., Dassault Aviation, General Dynamics Corporation and Pilatus Aircraft Ltd (in alphabetical order).
Additional benefits:
Market Estimation (ME) sheet in Excel format
3 months analyst support
Read the full report: https://www.reportlinker.com/p06381494/?utm_source=GNW
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