Asia-Pacific Light and Very Light Jets Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Asia-Pacific Light and Very Light Jets Market is Segmented by Type (Very Light Jet, and Light Jet) and Geography.

Market Snapshot

asia-pacific light and very light jets market overview
Study Period: 2018 - 2026
Base Year: 2020
CAGR: >1.5 %

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Market Overview

The Asia-Pacific light and very light jets market is projected to register a CAGR of more than 1.5% during the forecast period. 

The growth in private travel due to the increasing number of high-net-worth individuals (HNWI) and ultra-high-net-worth individuals (UHNWI) in the region is driving the sales of light and very light business jets.

  • The growth in tourism in the region and the increase in unscheduled flights led to increased charter activities in countries, like the Philippines and Indonesia. This is propelling the growth of the market in the region.
  • The outbreak of COVID-19 resulted in a decrease in private jet activity, and it resulted in a significant economic drop in several countries. This is expected to have an impact on the sales of new light and very light jets in 2020. Nevertheless, when the private jet flight activity returns back to normal, it is expected to generate significant demand for new light jets in the coming years.

Scope of the Report

The Asia-Pacific light and very light jets market covers the latest trends and technological developments and provides an analysis of various aspects of the market. The report includes only new deliveries of light and very light jets.

Type
Very Light Jet
Light Jet
Geography
Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific

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Key Market Trends

The Light Jet Segment Accounted for a Major Market Share in 2019

The light jets segment currently dominates the market, andthe segment is expected to continue its dominance during the forecast period, mainly due to higher deliveries and higher price of light jets compared to very light jets. Citation XLS+, Citation CJ4, Citation M2, Pilatus PC-24, and Embraer Phenom 300E are some of the preferred light jet aircraft in the region. Australia, Japan, and the Philippines are the major countries in the region, where the business jet fleet is dominated by the light jets. The growth in the demand for business travel and personal travel, post-the COVID-19 pandemic crisis, is anticipated to increase the sales of the light jets in the coming years.

asia-pacific light and very light jets market segment

Australia is Anticipated to Witness Highest Growth During the Forecast Period

Australia has the second-largest fleet of business jets in the Asia-Pacific region, with light jets dominating the majority of the business jet fleet in the country. In 2019, the Australian fleet grew greatly due to the addition of light and very light jets. The light and very light jets fleet serves domestic tourism, corporate, and private travel. PC-24 is the major light jet program that made the highest sales in the country in 2018 and 2019. The first of six aircraft were delivered to the Royal Flying Doctor Service of Australia in November 2018. They were scheduled to enter service in early 2019. The contract was signed in 2015, and the deliveries were planned during the period of 2018 - 2019. Such orders for light business jets is anticipated to accelerate the growth of the light and very light jets market in Australia during the forecast period.

asia-pacific light and very light jets market geography

Competitive Landscape

The market of light and very light jets is highly consolidated, with very few manufacturers that have the majority market share. Some of the prominent players in the market are Honda Aircraft Company, Embraer SA, Textron Inc., Pilatus Aircraft Ltd, and Bombardier Inc. Honda Aircraft Company, Textron Inc., and Pilatus Aircraft Ltd were the major players in 2019, with HondaJet Elite, Citation XLS+, and PC-24 being the most sold aircraft in the region. The business jet manufacturers are introducing new and advanced business jet models to attract new customers to increase their presence in the region. In February 2020, Honda Aircraft Company showcased the HondaJet Elite at the Singapore Airshow 2020 to capture new market opportunities, as a part of the company’s global expansion. The company also recently received its type certification from the Pakistan Civil Aviation Authority. Such new models are anticipated to increase the cashflows and the presence of the companies in the region.

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 Very Light Jet

      2. 5.1.2 Light Jet

    2. 5.2 Geography

      1. 5.2.1 Asia-Pacific

        1. 5.2.1.1 China

        2. 5.2.1.2 India

        3. 5.2.1.3 Japan

        4. 5.2.1.4 Australia

        5. 5.2.1.5 Rest of Asia-Pacific

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Honda Aircraft Company

      2. 6.1.2 Cirrus Design Corporation

      3. 6.1.3 Embraer SA

      4. 6.1.4 Textron Inc.

      5. 6.1.5 ONE Aviation Corporation

      6. 6.1.6 Bombardier Inc.

      7. 6.1.7 Pilatus Aircraft Ltd

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Asia-Pacific Light and Very Light Jets Market market is studied from 2018 - 2026.

The Asia-Pacific Light and Very Light Jets Market is growing at a CAGR of >1.5% over the next 5 years.

Honda Aircraft Company , Embraer SA, Textron Inc., Bombardier Inc., PILATUS AIRCRAFT LTD are the major companies operating in Asia-Pacific Light and Very Light Jets Market.

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