New research from Gama Aviation has revealed that the Middle Eastern business aircraft market is dominated by larger jets, with 56% of the total fleet classified as medium to heavy and 14% as business jet airliners. The corresponding figures for the global fleet are 30% and 0.3%.
According to Gama Aviation, there are some 794 business aircraft in the Middle East, and one in five of these (161) were delivered between 2011 and 2015. Additional research from aviation finance specialist Global Jet Capital revealed that 56 mid to heavy/large private jets were delivered to the Middle East in 2014 and 2015, with a combined value of over US$2.8bn.
Martin Ringrose, Gama Aviation’s managing director for the Middle East region, commented, “The Middle East business aviation market is growing, and as a global business, it’s one of our major focus areas. We have been operating in the Middle East since 2006, and last year we announced that we will be expanding our operations at Sharjah International Airport in the UAE.”
Gama Aviation’s research reveals that Saudi Arabia has the biggest fleet of business aircraft in the Middle East, with 187 (23.6% of the region’s total), followed by Turkey (157 and 19.8%) and the UAE (131 and 16.5%). These three countries also accounted for 69% of all business aircraft deliveries between 2011 and 2015.
Simon Davies, VP sales, Middle East, Africa and India, Global Jet Capital, said, “The Middle East is a very exciting market for us. Over the long-term, we expect it to enjoy strong growth fueled by an expanding and more diversified economy, and an increasing population of people who typically use business aviation.”