Market Size of Asia-Pacific Light and Very Light Jets Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 1.50 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Light & Very Light Jets Market Analysis
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.
