Japan, Japan, Tue, Mar 29, 2022 01:36:04 / Comserve Inc. / — The GCC general aviation market is expected to show a growth rate of over 2% during the forecast period.
the GCC General Aviation Market is expected to show a growth rate of more than 2% during the forecast period.
– Increased investment in developing the business ecosystem has boosted business aviation in the region, subsequently resulting in the acquisition of more business jets.
– Due to the increase in the demand for pilot training, many aviation training institutes in the region are purchasing general aviation training aircraft. This is also boosting the market growth in the region.
– The recent outbreak of COVID-19 has propelled demand for private jet travel in the region due to increased risk of infection at airports and cancellation of commercial flights. People with very high disposable incomes are investing in personal planes or using the services of private jet companies to avoid civil aviation travel.
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Main market trends
Helicopter segment to show the highest growth rate during the forecast period
Helicopters offer a safe, economical and easy option for private and business travelers over shorter distances. The increasing applications of helicopters in industrial sectors like the energy sector, etc. are propelling the growth of general aviation helicopter market in the region. In January 2019, Saudi Aramco began replacing its old fleet of AW109 models with AW139 and Airbus H145 helicopters. The new helicopters will be deployed for search and rescue and other strategic roles. Additionally, the increase in demand for pilots due to the increase in air travel in the region is propelling the growth of training rotorcraft in the region. In December 2018, EDIC Horizon International Flight Academy purchased 2 new Bell 429 helicopters. On the other hand, the growth of the tourism sector in the region is also driving the growth of the helicopter market in the region. In 2019, Al Sharqiya Aviation signed a new contract with the Public Civil Aviation Authority to launch helicopter rental services, Muscat City tour, in Oman. All the above-mentioned cases and factors are driving the general aviation helicopter market in the region.
Saudi Arabia will experience the highest growth rate
Saudi Arabia invests heavily in the strategic development of key sectors that contribute to the country’s GDP. Plans such as Saudi Vision 2030 will focus on developing various industries to reduce dependence on the oil and gas sector. The tourism and aviation sector is expected to derive many benefits from the ongoing development plans and projects in the Kingdom. Saudi Arabia has opened the doors to new businesses and many regional and global travel and tour operators plan to capitalize on the air travel market for VIPs, corporate executives, etc. In 2018, The Helicopter Company began operations by drawing investment from Saudi Arabia’s Public Investment Fund (PIF). In September 2019, it began operations with a fleet of AW139 helicopters. In November 2019, NasJet, a business charter subsidiary of Flynas, announced its plan to purchase A319-100ACJ and Falcon 900 business jets to boost business travel in the region. These factors are driving the development of the general aviation market in Saudi Arabia.
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The GCC general aviation market is a consolidated market with players such as Embraer SA, Textron Inc, Gulfstream Aerospace Corporation, Bombardier Inc., Dassault Aviation, etc. who dominate the market. The market is witnessing many future opportunities owing to the ambitious plans of the national governments for the development of the tourism and industry sectors, which can lead to a large demand for customized aircrafts according to the needs of the end users. In addition, manufacturers are also launching specially designed aircraft to meet the needs of different end users. For example, in September 2019, Cirrus Aircraft announced its TRAC series, a purpose-built configuration of the best-selling SR line of aircraft, developed specifically for flight training institutions. With these aircraft, Cirrus Aircraft is set to target its expansion with its existing customers in the GCC, including the Emirates Flight Training Academy and the Royal Saudi Air Force, among others. Such developments are expected to contribute to the growth of the players over the forecast period.
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