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Asia-Pacific General Aviation Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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  • 119 Pages
  • August 2022
  • Region: Asia Pacific
  • Mordor Intelligence
  • ID: 4534302
The Asia-Pacific General Aviation Market is poised to register a CAGR of over 5% during the forecast period (2022 - 2027).

The COVID-19 pandemic has resulted in the governments of several countries imposing travel restrictions and lockdown measures, which has affected the business travel and the tourism sectors in the region. Although the situation improved by the end of 2020, the pandemic has affected the aircraft demand from the region's end-users in the short term. The orders and deliveries have witnessed a decline in 2020. As the flight activity grew in 2021 compared to the previous year, the demand for new aircraft also witnessed significantly.

Asia-Pacific, which has some of the fastest-growing economies globally, has witnessed a sharp increase in the HNWI population in the last decade. Simultaneously, the demand for general aviation aircraft, especially business jets and helicopters, increased over the years.

Charter operators in the region are constantly expanding their routes and are adding new aircraft to their fleet, driven by the growing need for non-scheduled business travel. This has helped the demand for business jets and turboprops in the region. On the other hand, the demand for light sport and trainer aircraft remained high, thereby contributing to the overall general aviation fleet growth.

The growing investments in urban air mobility by the companies in the regions are anticipated to propel the market's growth in the coming years.

Key Market Trends

Business Jet Segment Dominates the Market

The business jet segment currently has the highest share of all the segments. Also, it is expected to experience significant growth in the region over the next decade, with the growth primarily due to new models entering the service. Major demand for business jets in Asia-Pacific is from China, Australia, and India, which account for about 2/3rd of the region's demand each year. The demand for business jets in Southeast Asia is growing, particularly for the large and medium-size category jets. Growth in travel and tourism has helped the growth in the procurements of business jets in the ASEAN countries over the years. Currently, Gulfstream, Bombardier, and Textron are some of the major sellers of business jets in the Asia-Pacific region. Despite a dip in the sales volumes in the last two years, business jet manufacturers are considering the countries, like China and India, as lucrative markets for business jets. As the region's charter and business travel activities increased in 2021, the aircraft operators are resuming their fleet modernization and expansion plans. In the first quarter of 2021, Embraer announced the delivery of another Phenom 100EV to an undisclosed Australian customer. With increasing demand from end-users, OEMs are also expanding their customer support and service capabilities in the region, which is also expected to propel the growth of the business jet market in the region during the forecast period.

China Held the Largest Market Share in 2021

Currently, China generates the highest revenue in the Asia-Pacific general aviation market. China is witnessing an increase in the number of developments related to general aviation. The growth of the general aviation sector can be attributed to the implementation of the Thirteenth Five-Year Plan (2016-2020) of the Chinese Government that outlined its commitment to encourage and attract private investment towards airports, flight schools, FBOs, and MROs. As a result of the government initiatives, the number of general aviation airports in China grew to more than 250 in 2021 from the previous statistics of 170 certified airports in 2010. Healthy economic growth and the growing number of high-net-worth individuals in China have significantly led to the increase in the number of business jets operating in the country. Companies such as Gulfstream and Bombardier operate most of the charter fleet in China. Besides, the helicopter demand has also witnessed a rise in the country, encouraging OEMs to release new models and gain market share. For instance, in December 2021, Leonardo received an order from Beijing General Aviation Co., Ltd. to deliver two AW189 twin-engine helicopters to Beijing Police to strengthen their law enforcement, search and rescue, and fire-fighting capabilities. The helicopters are expected to be delivered by the first quarter of 2023. The contract marks the entry of the AW189 type into the Chinese civil helicopter market. Such developments are expected to propel the growth of the general aviation market in the country in the years to come.

Competitive Landscape

Bombardier Inc., Embraer SA, Textron Inc., General Dynamics Corporation (through Gulfstream Aerospace Corporation), and The Boeing Company are prominent players in the Asia-Pacific general aviation market. The companies are also enhancing their product offering by unveiling new models. In October 2021, Gulfstream unveiled two new business jets, the long-range G800 and the smaller G400. Gulfstream plans to start the customer deliveries for the G800 in 2023 and the G400 in 2025. Furthermore, the aircraft OEMs are expanding their presence in the region by expanding their distribution network with local partners. For instance, in October 2021, Diamond Aircraft announced Airflite Asia (Singapore) Pte Ltd, a wholly-owned subsidiary of Airflite Pty Ltd, as the sales agent for Indonesia. According to Airflite, there will be a significant demand for flight training growth in the coming years. Airflite is targeting newer generation entrepreneurs looking for innovative products to suit their growing need for cost-effective travel throughout the Indonesian archipelago and believes that Diamond Aircraft is the perfect solution. Such developments are expected to help the growth of the players in the market during the forecast period.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

This product will be delivered within 2 business days.

Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of Study
1.3 Currency Conversion Rates for USD
3.1 Market Size and Forecast, Global, 2018 - 2027
3.2 Market Share by Type, 2021
3.3 Market Share by Geography, 2021
3.4 Structure of the Market and Key Participants
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Buyers/Consumers
4.4.2 Bargaining Power of Suppliers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size and Forecast by Value - USD million, 2018 - 2027)
5.1 Type
5.1.1 Helicopters
5.1.2 Piston Fixed Wing Aircraft
5.1.3 Turboprop Aircraft
5.1.4 Business Jets
5.2 Geography
5.2.1 China Type
5.2.2 India Type
5.2.3 Japan Type
5.2.4 South Korea Type
5.2.5 Australia Type
5.2.6 Singapore Type
5.2.7 Malaysia Type
5.2.8 Rest of Asia-Pacific Type
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Textron Inc.
6.2.2 Embraer SA
6.2.3 Bombardier Inc.
6.2.4 The Boeing Company
6.2.5 General Dynamics Corporation
6.2.6 Dassault Aviation SA
6.2.7 Cirrus Design Corporation
6.2.8 Pilatus Aircraft Ltd
6.2.9 Airbus SE
6.2.10 Diamond Aircraft Industries
6.2.11 Piper Aircraft Inc.
6.2.12 Lockheed Martin Corporation
6.2.13 Leonardo SpA

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Textron Inc.
  • Embraer SA
  • Bombardier Inc.
  • The Boeing Company
  • General Dynamics Corporation
  • Dassault Aviation SA
  • Cirrus Design Corporation
  • Pilatus Aircraft Ltd
  • Airbus SE
  • Diamond Aircraft Industries
  • Piper Aircraft Inc.
  • Lockheed Martin Corporation
  • Leonardo SpA