Airline
400 regional corporate jets forecast by 2018
The Middle East is catching up with India and China in the business jet market, said industry analysts. The Middle East currently accounts for about 6 percent of the global business jet market and will need 200 more jets by 2015, and another 200 by 2018, according to Frost & Sullivan, the global business research and consultancy firm. “Between 2010 and 2018 415 new business jets are expected to be delivered. 223 business jets between 2010 and 2015 valued at about $3.89 billion (Dh14.28bn)” said John Siddharth CP, Team Leader for Aerospace and Defence at Frost and Sullivan. Mr. Siddharth, who tracks aerospace trends in the Middle East, Africa, and India, said there is good potential in the market.
The US and Europe currently dominate the business jet market around the world, but Asian markets, especially China and India have lately been receiving more attention from manufacturers. About 18,000 business jets are sold around the world, according to industry estimates, and with an expected increase in demand, global players are paying more attention to the Middle East.
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