Asia-Pacific General Aviation Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Asia-Pacific General Aviation Market is Segmented by Type (Helicopters, Piston Fixed Wing, Turboprop, Business Jet), and Country.

Market Snapshot

asia-pacific general aviation market_overview
Study Period: 2018 - 2026
Base Year: 2020
CAGR: >4.5 %

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Market Overview

The Asia-Pacific general aviation market is estimated to register a CAGR of over 4.5% during the forecast period, 2020 - 2025.

  • Corporates have emerged as avid users of business jets in the Asia-Pacific region, and the growing demand has led to the industry to witness significant growth. The introduction of attractive membership schemes, and the relative ease of availing chartered services via mobile apps and online platforms, have made charter services more accessible to the people in the region, thereby driving the procurement of new business jets for fleet expansion and modernization.
  • The demand for general aviation aircraft is also bolstered by the shortage of trained pilots in the region, necessitating training institutes to expand their fleet to train a larger number of aspirants every year.
  • The Asia-Pacific region is also witnessing a growing number of Part 91 aircraft owners offering charter services in countries such as Hong Kong and China. These private owners' continued presence offering their aircraft for hire has enhanced competition with legitimate Part 135 charter operators. Such a trend is likely to remain prevalent during the forecast period.

Scope of the Report

The Asia-Pacific general aviation market comprises all civil flights except scheduled passenger airline services. The report includes private aircraft, sports aircraft, training aircraft, and agriculture aircraft.

Type
Helicopters
Piston Fixed Wing Aircraft
Turboprop Aircraft
Business Jet
Geography
Country
China
India
Japan
South Korea
Australia
Rest of Asia-Pacific

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Key Market Trends

Business Jet Segment Dominates the Market

Currently, the business jet segment has the highest share out of all the segments. The increasing number of ultra-high net worth individuals in Asia-Pacific is leading to growth in this segment. With its large population and wealth, Asia-Pacific is in a good position to quickly tackle flexibility issues to empower efficient business travel throughout this rapid-growth region. Organizations including ASEAN and APEC working with the International Civil Aviation Organization (ICAO), the International Business Aviation Council (IBAC), and the Asian Business Aviation Association (AsBAA) continuously raise the importance of improving transportation regulations to implement efficient solutions. The total Asia-Pacific business jet fleet was 1,155 aircraft in 2016, as reported by the Asian Sky Group. Overall in 2018, the region added 112 aircraft (57 new and 55 preowned). As of June 2018, there were 311 business jets in the Asia-Pacific region used for the charter, a 5% increase from the 296 business jets used for charter in 2016. The 311 business jets represented 26% of the total regional fleet. Business jet deliveries in China witnessed a decline due to poor domestic growth and poor business confidence in business jets. Although there was a decline in the number of business jets, various business jet companies in China are confident of having new aircraft deliveries in 2019 since the country is one of the main markets for the business jet in the Asia-Pacific region. The market is expected to grow in the Asia-Pacific region as falling prices of pre-owned corporate aircraft make operating leases more attractive for buyers. Likewise, factors, such as the growing interest in business jets and increasing business jet utilization, may focus on this segment, which may be why its expected high CAGR.

asia-pacific general aviation market_segment

China is Expected to Witness the Highest Growth

Currently, China is generating the highest revenue in the Asia-Pacific general aviation market. China is witnessing an increase in the number of developments related to general aviation. Additionally, part 91 aircraft owners in China have strong growth, who are offering charter services. On the other hand, healthy economic growth and the growing number of high-net-worth individuals in China have significantly led to the growth in the number of business jets operating in the country. Moreover, according to data published by Asian Sky Group, companies such as Gulfstream and Bombardier operate most of the charter fleet in China. Besides, China is also one of the fastest-growing countries for general aviation helicopters. In 2018, the country witnessed growth in general aviation helicopters, owing to government support and increased interest from leading foreign OEMs. Moreover, according to the Civil Administration of China (CAAC), the country licensed 93 new general aviation airports in 2018, making the total number of general aviation airports in China amounting to 173. The number of general aviation airports had increased ever since, at the end of July 2019, the total number of general aviation airports was 239. Additionally, according to the Aviation Industry Corporation of China (AVIC), the general aviation aircraft population is expected to reach 20,000 by 2035, and the various significant changes, such as growth in short-distance transportation, low-altitude airspace tourism, and business trips, may lead to a growth in the Chinese general aviation market.

asia-pacific general aviation market_geography

Competitive Landscape

Various players, such as Bombardier Inc., Dassault Aviation SA, Textron Inc., Gulfstream Aerospace Corp., Leonardo SpA, and Boeing, occupy a significant share in the Asia-Pacific general aviation market. Companies undertook various initiatives and product innovations that have strengthened their presence in the market. Bombardier business jets are best suited for the Asia-Pacific region, offering an impressive range and incomparable luxury, as it offers access to a world-class service center in Singapore. Bombardier, in February 2019, announced a major investment in enhancing its Singapore service facility. After the renovation, Singapore Service Centre will quadruple its existing footprint, add a paint facility and parts depot, and expand the full-service interior finishing shop. The expanded Singapore Service Centre will support more than 2,000 visits annually. The service center is expected to be fully operational in the second half of 2020. Bell Helicopters, a subsidiary of Textron Inc., reported that it has plans to strengthen its presence in South Asia and introduce the Bell 525 helicopter in Malaysia.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Helicopters

      2. 5.1.2 Piston Fixed Wing Aircraft

      3. 5.1.3 Turboprop Aircraft

      4. 5.1.4 Business Jet

    2. 5.2 Geography

      1. 5.2.1 Country

        1. 5.2.1.1 China

        2. 5.2.1.2 India

        3. 5.2.1.3 Japan

        4. 5.2.1.4 South Korea

        5. 5.2.1.5 Australia

        6. 5.2.1.6 Rest of Asia-Pacific

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 Textron Inc.

      2. 6.2.2 Embraer SA

      3. 6.2.3 Bombardier Inc.

      4. 6.2.4 The Boeing Company

      5. 6.2.5 Gulfstream Aerospace Corporation (General Dynamics Corporation)

      6. 6.2.6 Dassault Aviation SA

      7. 6.2.7 Cirrus Design Corporation

      8. 6.2.8 Pilatus Aircraft Ltd

      9. 6.2.9 Airbus SE

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Asia-Pacific General Aviation Market market is studied from 2018 - 2026.

The Asia-Pacific General Aviation Market is growing at a CAGR of >4.5% over the next 5 years.

Textron Inc., Embraer SA, Bombardier Inc., Gulfstream Aerospace Corp., The Boeing Company are the major companies operating in Asia-Pacific General Aviation Market.

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