The Asia-Pacific region, and Greater China in particular, offer great potential for growth, according to forecasts from business jet manufacturers. Claudio Camelier, v-p of sales for Embraer Executive Jets; Nilesh Pattanayak, regional v-p, Asia-Pacific, Bombardier; and Jerome Desmazures, senior v-p International, Dassault Aviation, presented an optimistic look at the region at a panel session organized by Corporate Jet Investor Asia 2018, held in Singapore.
In addition to China, they highlighted Australia and India as promising markets. Australia has traditionally been a preowned-biased market but buyers are gradually moving into new aircraft.
“There have been a lot of investments coming from China in Australia recently, and we are seeing more requirements by Chinese clients to fly between the two countries,” said Desmazures.
Last year, the Australian fleet grew by 3 percent, to 186 aircraft. Camelier also hinted that Embraer will deliver a Phenom 300E to Australia next week.
However, the panel is seeing a duller outlook in Southeast Asia, in countries such as Malaysia. The recent change in government in Malaysia prompted the new administration to clamp down on corruption, especially revolving around the state fund 1MDB. Pattanayak observed that potential operators are adopting a wait-and-see mentality for the next few months but the recent rise in oil prices is expected to drive some interest in new aircraft.
He added that despite tremendous economic growth in the Philippines, the fleet size hasn’t grown as quickly as expected, partly due to the lack of infrastructure there. Embraer still sees some potential there for small bizjets such as the Phenom 300 or Legacy 450/500 series to replace a substantial fleet of aging Beechcraft King Air turboprops.