Market Trends of Asia-Pacific Light and Very Light Jets Industry
This section covers the major market trends shaping the APAC Light & Very Light Jets Market according to our research experts:
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.
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.
