BUSINESS AVIATION HAS BEEN A GROWING MARKET AFTER COVID-19 in many parts of the world. While the fluctuations have impacted even the private aviation market, it has more or less seen better days than commercial aviation. The global business aviation sector was valued at $42.14 billion in 2022 and is poised for significant growth. Forecasts indicate an increase from $43.97 billion in 2023 to an impressive $62.66 billion by 2030. This surge is driven by a notable rise in high-net-worth tourists, escalating the demand for private aviation and propelling global business aircraft sales.
The Middle East has been seeing significant growth, further driven by tourism and global events being organised. In the Middle East Aviation Market, valued at $60 billion in 2023, RationalStat analysis predicts substantial growth at a CAGR of 3.9 per cent from 2023 to 2030. Despite a 6 per cent year-over-year decline, the sector is 47 per cent ahead of 2019, with Al Maktoum International Airport in Dubai standing out, surpassing its last year’s activity by 4 per cent. The Middle East demonstrates resilience, with certain hubs like Dubai maintaining robust activity. Business jet growth in the Middle East has been strong in recent years and is expected to continue. According to Aviation Week Network’s 2024 Business Aviation Fleet & MRO forecast, the private jet fleet in the region is projected to grow by 141 (reaching 480 in-service aircraft) over the 10 years from 20242032, with a sales value of $9.1 billion. The region primarily sees a dominance of long and ultra-long-range jets, aligning with travel profiles to Europe, Asia, or North America.
Diese Geschichte stammt aus der Issue 12, 2023-Ausgabe von SP’s Aviation.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der Issue 12, 2023-Ausgabe von SP’s Aviation.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
KLM: THE WORLD'S OLDEST AIRLINE STILL GOING STRONG!
In 1930, KLM began scheduled passenger service between Amsterdam and Jakarta. The Fokker F.XII plane took 10 days to reach, including 81 hours of flying time. It was the world's longest scheduled flight before the Second World War.
SPICEJET'S $90 MILLION DEAL WITH CANADIAN Q400 PLANES
SpiceJet has successfully resolved a significant dispute with Bombardier over a fleet of Q400 turboprop planes in the form of a $90 million settlement, marking the end of a prolonged legal battle that also has broader implications for the Indian aviation sector
TAPPING THE UNCHARTED WATERS
Seaplane services are expected to transform regional connectivity in India, boost tourism, create jobs, and foster economic development, particularly in hard-to-reach coastal and inland regions
FLIGHT PLAN FOR NAVIGATING BUSINESS AIRCRAFT FINANCING
The business aircraft financing market has witnessed significant growth post-pandemic, driven by increased demand for private and chartered flights
TRUMP'S VICTORY: WHAT WILL IT UNFOLD FOR INDIA
For India, one of the most significant aspects of Trump's return will be his approach to China. There is a possibility that Trump will continue to view India through a transactional lens, prioritising trade deficits and economic returns. The role which the US plays as the global tech powerhouse is the model for future growth which cuts across economy to security. In all potential, there are mostly positive signs, rather another defining era for Indo-US relations could unfold if indicators are right. The convergence of mutual interest for both democracies is too obvious.
ANTARIKSHA ABHYAS-2024
The first ever tri-services Defence Space Exercise was a significant building block towards holistic capability in global space operations
INDIA'S GSAT-20 SATELLITE LAUNCHED
Symbolising growing technology, growth & collaboration, this mission highlights India's dedication to leveraging space technology for societal progress, expanding its role in commercial space ventures while underscoring the potential for India's heavy-lift launch vehicles to capture future opportunities
A LEGACY OF PRECISION, POWER, AND POISE IN THE SKIES
With a vision for comfort, excellence and sustainable aviation, Dassault's Falcon family embodies the peak of technological and environmental advancements
INDIA'S RICHEST BUYS BBJ
Private jets play a strategic role in allowing business magnates like Ambani to optimise time management, particularly critical given his global business commitments and a packed travel schedule.
PRIME MINISTER INAUGURATES AIRCRAFT COMPLEX FOR MANUFACTURING OF C295 AIRCRAFT
Prime Minister Narendra Modi and his Spanish counterpart Pedro Sanchez jointly inaugurated the TATA Aircraft Complex for manufacturing of C295 aircraft at TATA Advanced Systems Limited (TASL) Campus in Vadodara, Gujarat on October 28, 2024.
