Page 33 - AAA JANUARY - FEBRUARY 2018 Online Magazine

TURNAROUND AWAITED

The Business Aviation market is
expected to improve in 2018

Atul Chandra
he year 2018 marks a decade
since the global financial crisis,
which threw the global business
Taviation market into a tailspin.
Towards the end of 2017, it was becoming
clear that the business aviation market in
the Asia-Pacific region will soon return to
levels of growth last seen only a decade
ago. The South-East Asia Business Jet
Market is poised to grow at a CAGR of
over nine percent during 2017-2022,
according to a report on South East Asia Enbraer Phenom
Business Jet Market - Growth, Trends and 300E Interiors
Forecasts (2018 - 2023)” by Research
and Markets. Large cabin business jets
will continue to dominate the market in the Bombardier
region, due to the geographies involved. Bombardier Business Aircraft is preparing for one of the most awaited
According to Asian Sky’s report for the business jet launches of the year; the Global 7000 which is slated for
third quarter 2017, “The “feel good” factor entry-into-service during the second half of 2018. The Global 7000 which
has been growing consistently each quar- will have a maximum range of 13,700 km was originally due to enter ser-
ter and finally this quarter we see the vice in 2016. Four out of five test vehicles are flying and Bombardier is
anticipated spike in purchase intention: investing US$65 million in its new Centre of Excellence in Montreal, where
an 11 percent increase for new aircraft the airframer expects to fill approximately 1,000 new positions over the
and 8 percent increase for a pre-owned next 18 months for interiors completion work on its Global 7000 aircraft.
aircraft, where the highest desired type As of July 2017. four Global 7000 business jets were in final assembly
remains a large cabin aircraft,” said at the Bombardier facility in Toronto, Ontario, Canada. The airframer
Jeffrey C. Lowe, Managing Director, Asian also announced in December 2017, that deliveries of its super midsize
Sky Group. Market growth in 2018 will fur- Challenger 350 aircraft have crossed 200 aircraft, while more than 50
ther be stimulated by deliveries of Falcon deliveries of the newer large cabin Challenger 650 which has a maximum
8Xs, Gulfstream G500s and Bombardier range of 7,408 km had been completed.
Global 7000s.

“However, in the SE Asia
region, the trend of an
increase in owner’s aircraft
has grown to a significant
extent which provides
for a significant growth
opportunity in the small
business jet category,”
says the Research and
Markets report.

ASIAN AIRLINES & AEROSPACE January/February 2018 | 33