Nearly a third of the more than 400 private aircraft owned in Russia and the Commonwealth of Independent States are large-cabin, long-range business jets, according to new market research from Dubai-based business aircraft broker ArcosJet. OEMs leading those markets in this region are Bombardier, accounting for 30 percent of the fleet, followed by Gulfstream with 21 percent market share.
The most popular model in the region is Bombardier’s Global series, which numbers 70 aircraft and is likely to expand as deliveries of the 6500 and 7500 accelerate. “[There’s] no surprise here as we know Bombardier products hold a very strong position in the region with its wide Global long-range lineup and a very successful large and midsize Challenger family,” said ArcosJet CEO and founder Mikhail Alenkin.
ArcosJet also said Gulfstream holds a strong position in the market and expects its new G700 will be a “significant market driver” once the long-range twin enters service. Dassault's Falcon 7X and 8X also have “solid representation” in the region, accounting for 30 aircraft, the broker added.
The region’s preference for large-cabin jets is more of a matter of practicality rather than a demonstration of extravagance, according to Alenkin. “The local owners’ preferences are not driven by claims for luxury or billionaire lifestyle,” he said. “When a common city pair distance approaches 3,000 km and the average route is more than three flight hours, you need acceptable cabin comfort, longer range, and substantial payload.”
Despite the preference for larger aircraft, Alenkin said ArcosJet expects demand for midsize and light jet fleets, which combined currently account for 20 percent of the region’s fleet, to continue to increase. “We see an increase in the midsize and light fleet segments and expect this trend to grow stronger in the future,” he added.