Market Size of Southeast Asia Business Jet Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 463.39 Million |
| Market Size (2029) | USD 906.39 Million |
| CAGR (2024 - 2029) | 14.36 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Southeast Asia Business Jet Market Analysis
The Southeast Asia Business Jet Market size is estimated at USD 463.39 million in 2024, and is expected to reach USD 906.39 million by 2029, growing at a CAGR of 14.36% during the forecast period (2024-2029).
Due to the COVID-19 pandemic, the commercial aviation industry in the region was severely impacted, leading to increased demand for charter and private travel. Despite the increased demand for charter and private travel in the region, overall business jet activity in 2020 remained lower than pre-pandemic levels. The business jet activity gradually began to recover in 2020 and is expected to increase further in the coming months due to the opening of borders for international tourism. This is expected to boost business jet activity, generating demand for new business jets.
Southeast Asian countries became some of the major tourist hotspots globally before the pandemic. With the market recovering from the pandemic, new charter and private travel operators are entering the market, and many charter operators are introducing new charter routes in the region. This factor is generating demand for fuel-efficient business jets during the forecast period.
Over the past few years, the total number of high-net-worth individuals (HNWI) and ultra-high-net-worth individuals (UHNWI) witnessed robust growth in the region. This is expected to propel the demand for business and private travel, thereby driving the procurement of private jets with enhanced cabin interiors.
