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Middle East Business Jets Market Assessment
Frost & Sullivan, Sep 2009, Pages: 70
Middle East Business Jets Market is on an Upswing despite the Economic Downturn
Although the global economic slowdown has adversely affected the commercial aviation industry worldwide, the Middle East business jets market continues to experience growth. The air taxi business is expected to be a major driver for this market. 'There is significant potential for the very light jets market in the Middle East,' says the analyst of this research. 'The major competitors in the very light jets market are Cessna and Embraer.' The growth in the Middle East business jets market along with a growing gross domestic product (GDP) has necessitated airport expansion and is likely to drive the need for airport infrastructural development as airports in the region lack the capacity to cater to the existing air traffic. This region comprises 11 major tier-I airports that are being extensively revamped to cater to the growing traffic. Among these airports, the Kuwait International Airport, Dubai International Airport and the New Doha International Airport form about 40 per cent of the total share of investments going into the region. The infrastructural development in this region is expected to be driven by its geographic location, which serves as a link between the west and east.
The expected number of business jets to be delivered in Middle East will be approximately 458 by 2018 and the number of jets expected to be delivered in Saudi Arabia alone will be about 154. Such a situation will be challenging to handle if there are no structured regulations in place. 'In 2005, the number of high net worth individuals (HNWIs) was around 0.25 million in the Middle East, accounting for nearly 3 per cent of the global HNWI population,' says the analyst. 'This is anticipated to become 5 per cent or approximately 0.7 million by 2012, positively impacting the market’s prospects.'
The most potential market for business jets within the Middle East is Saudi Arabia, which holds about 37 per cent of the market potential in the long term, followed by the United Arab Emirates (UAE) with nearly 24 per cent of the market potential.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
Product type:
- Very light jets
- Light jets
- Super light jets
- Mid-sized jets
- Super mid-sized jets
- Large jets
- Super large jets
- Ultra long-range jets
- Convertible aircraft
This Frost & Sullivan research service titled Middle East Business Jets Market Assessment provides an overview of the business jets market in Middle East and examines in depth the top competitors’ situation as well as the progress of the rest of the participants. In this research, Frost & Sullivan's expert analysts thoroughly examine the following kinds of business jets: very light jets, light jets, super light jets, mid-sized jets, super-mid-sized jets, large jets, super-large jets, ultra-long-range jets and convertible aircraft.
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