Middle East & Africa General Aviation Market: Report Analysis, Share, Revenue, Growth Rate with Forecast Insight 2022-2031

Japan, Japan, Fri Apr 08 2022 05:59:57 / Comserve Inc. / — The Middle East and Africa general aviation market is expected to grow at a CAGR of over 3% during the period forecast.

the General Aviation Market in the Middle East and Africa is expected to grow with a CAGR of over 3% during the forecast period.

– Growth in the number of high net worth individuals has changed passenger preference for private jets in the region and is currently driving the growth of the market.
– Rising travel and tourism in the Middle East and Africa region is driving the growth of the general aviation market in the region by attracting more passengers to the region.
– However, fluctuating oil prices can pose a threat to the general aviation market in the region, as most countries in the Middle East are oil-based economies.

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Main market trends

The business jet segment will continue to be the largest market in the forecast period

The business jet segment is the major revenue-generating segment for the market as of 2019. In the Middle East region, there is a strong demand for large cabin and long-range business jets from action in the region due to their high luxury and comfort. The business jet segment is expected to experience rapid growth in the coming years in the region, after a multi-year decline, mainly due to the economic downturn. Business jet manufacturers have also shifted focus and view the Middle East as a region with high potential for future business jet sales, as several companies in the United States and Europe reduce frills like chartering business jets in an effort to save money. and appease investors. Further, the demand for the segment is driven by charter service providers. For example, in October 2019, Gulfstream Aerospace Corp. announced that Qatar Airways will be the launch customer for the Gulfstream G700, Gulfstream’s new flagship, for its charter service, Qatar Executive. According to Qatar Executive, the latest agreement with Gulfstream is for the purchase of 10 G700 aircraft in addition to their additional orders for Gulfstream G500 and G650ER aircraft. Previously, in June 2019, Qatar Executive received delivery of two Gulfstream jets, the delivery included a G650ER and a G500.

Saudi Arabia is the region’s largest general aviation market in 2019

In 2019, Saudi Arabia was the largest market for business aviation activity in the Middle East region, accounting for more than a third of the total number of business jets in the Middle East region. -East. The great wealth of the country makes it a lucrative market for general aviation. However, the United Arab Emirates, another wealthy nation in the region, is expected to grow at a high CAGR in the coming years. General aviation is experiencing phenomenal growth in the UAE and this growth can be attributed to the increasing presence of general aviation players in the region. The country is currently improving its business aviation infrastructure. Dubai is expected to be a major destination in the Middle East during the forecast period for both business travel and tourism purposes. These factors are expected to contribute to the growth of the UAE general aviation market.

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Competitive landscape

The market is now consolidated, with around ten players serving general aviation customers in the Middle East & Africa region. Textron Inc., Embraer SA, Bombardier Inc., General Dynamics Corporation (Gulfstream) and The Boeing Company are the major players in the market. New aircraft models, such as Global 7500 (from Bombardier), G500 aircraft (from Gulfstream Corporation) and Cessna Denali (from Textron Inc.), etc., have recently attracted a lot of attention, which can help these companies stay competitive and expand their presence in the region’s fast-growing markets. To meet growing demand, charter aircraft companies are increasing their fleets, for example in July 2019, ExecuJet, part of the Luxaviation group, added a second Pilatus PC-24 to its African fleet. In addition, at the beginning of 2020, Embraer Executive Jets received the type certificate from ANAC (National Civil Aviation Agency of Brazil), EASA (European Union Aviation Safety Agency) and the FAA (Federal Aviation Administration) for its new Phenom 300E. With the Middle East being the company’s fourth largest market and with the new certification from regulatory bodies, the company will launch its new models in the region to boost sales.

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