Middle East Business Jets Sector Analysed by SRI in New Market Report Recently Published at MarketPublishers.com14 Apr 2016 • by Natalie Aster
LONDON – The financial crunch adversely affected the global business jet aircraft demand reducing it by nearly 50%. However, the demand has increased in the recent past, and large-sized players are introducing novel models on the back of the soaring demand from the Middle East region, North America and Asia. The global market is anticipated to expand to be worth USD 33.8 billion by end-2020, posting a CAGR of just over 6.85%.
The Middle East region’s market for business jets has a promising future, although the business jets fleet in the area currently accounts for only 3% of the worldwide total. As the region’s GDP is projected to post 3.8% growth per annum on average in the next 20 years, the future of the market is bright. Saudi Arabia boasts the biggest fleet of business jets (188 aircrafts) in the region, with Turkey and the UAE following after. Iran also has great potential for growth.
The Middle East jets market is led by large jet and heavy jet planes. Of the 745 novel deliveries forecasted for the region by end-2023, heavy jets make up 70% and large jets comprise close to 24%. Overall, the business aviation marketplace in the Middle East is projected to thrive in the long term.
New research report “A Study of Middle East's Business Jets Market 2016” prepared by Smart Research Insights (SRI) casts light on the status quo and key dynamics of the Middle Eastern business jets market. The study explores the growing opportunities in the marketplace as well as identifies and investigates the market driving forces and key challenges. It discusses the various incentives and performance of the world’s leading industry participants. The opinions of the industry leaders are also available in the publication.
Top players covered in the report include: Embraer S.A., Bombardier Inc., Gulfstream Aerospace Corp., Honeywell International Inc., Boeing, Dassault Aviation and Cessna Aircraft.
A Study of Middle East's Business Jets Market 2016
Date: April, 2016
Price: US$ 1,000.00
More studies by the publisher can be found at Smart Research Insights page.