PARIS - Until recent years, Dassault Falcon was a lesser-known marque in Thailand's business aviation market.
That has changed, however, as the French jet builder is making its presence felt with four aircraft operating in Thailand.
Those numbers may seem small compared with the 40 or so corporate jets in operation in the country, but Dassault Falcon expects to add up to five more to the list this year.
Jean-Michel Jacob, president of Dassault Falcon for Asia-Pacific, says Thailand is an emerging market for business aviation.
"We have many contacts with potential customers [in Thailand], which I will not disclose the names, who may come on board in the coming months or within a year," said Jean-Michel Jacob, president of Dassault Falcon for Asia-Pacific.
Dassault Falcon, the business jet division of Dassault Aviation (which also makes military aircraft like the Rafale fighter), sees an uptrend in the Thai corporate jet market, driven by surging demand for executive travel and for medivac, coast guard and other special purposes.
Mr Jacob said political stability and economic growth in Thailand have prompted businessmen to consider buying jets as a tool to support productivity, rather than as a luxurious item the way some may perceive.
The business jet fleet in Thailand consists mostly of small and medium-sized aircraft, rather than the larger, long-haul aircraft that form the segment in which Dassault Falcon competes.
That said, Dassault Falcon sees potential for larger, longer-range aircraft in Thailand because Thai firms have expanded internationally. Some business jet operators cater to large Thai corporations, but many of these operators are using smaller aircraft.
Thailand has emerged as a focus country in Asia-Pacific, along with China, Japan, Malaysia, Indonesia and Australia. Dassault Falcon is actively campaigning for new orders in the region.
In the coming weeks, the French company will introduce its latest model, the Falcon 8X -- an ultra-long-range aircraft with a list price of US$58 million -- to Thailand for demonstrations to potential buyers as part of an Asian tour.
The tri-jet Falcon 8X, which can do Hong Kong-London nonstop with eight passengers and three crew members, is regarded by Dassault Falcon itself as the most appealing aircraft for the Thai and Asian markets.
Mr Jacob said the Falcon 8X is poised to be one of the next jets acquired by Thai concerns, along with three Falcon 2000LXSes (medium-haul aircraft) and one Falcon 7X (the fastest-selling Falcon business jet, already in operation in Thailand).
Dassault Falcon has already staged aircraft demonstrations in Thailand twice this year as the marketing campaign gears up.
Meanwhile, the company has started discussions about the possibility of setting up a local centre in Thailand to provide maintenance, repair and overhaul (MRO) services for Dassault Falcon aircraft.
Mr Jacob said the planned MRO would come in the form of cooperation with a highly qualified local service provider.
Though Dassault Falcon has had MRO service centres in the region, Mr Jacob said the authorised MRO in Thailand is meant to make Thai buyers "happy" despite a lack of critical mass.
MUTED GROWTH
Mr Jacob sounded an upbeat note about Dassault Falcon sales in Asia, though he acknowledged the somewhat sluggish market situation.
He estimated current market demand at 20-25 new executive jets a year, rising to 50-70 year if the political and economic environment gets on the right track.
Asian demand for new business jets will grow at an average 5-10% a year, depending on the region's economic situation, he said.
According to Dassault Falcon, China will lead growth again as the region's largest business aviation market regains altitude after flattening since 2014 after Beijing launched an austerity campaign to crack down on corruption.
China's super-rich view the private jet as an ultimate symbol of personal wealth and lofty social status.
The Hurun Business Jet Owners 2017 report suggests that, based on China's financial progress and economic size, there is enough demand for 1,900 corporate jets to be operational in the country.
There were 466 corporate jets flying in mainland China at the end of 2016, with 114 individual business people owning 164 private aircraft, according to the organisation specialising in research on China's super-rich.
FEWER DELIVERIES
Globally, the French manufacturer foresees delivery of new aircraft dropping this year amid prolonged weakness in the large-cabin business jet market.
The company estimates that it will deliver 45 Dassault Falcons in 2017, down from 49 in 2016, 55 in 2015 and 67 in 2014.
But it insists that this year's projection is in line with the in-house forecast of 50 shipments for the year.
The company logged 21 net orders for Falcon jets in 2016, compared with 25 Falcon sales a year earlier.
Backlog also eroded last year, dipping to 63 Falcons at year-end, compared with 91 a year ago.
In a recent forecast, analyst Brian Foley predicted that the global business aviation market for new aircraft would remain flat for the foreseeable future.
He estimated that deliveries would average between 650 and 750 units a year over the next few years, afterwards rising to 775-825 through 2025.
In contrast, about 350 units were delivered each year between 1986 and 1996.
LIMITED PRESENCE
Dassault Falcon is eager to boost its presence in Asia, which is home to a tiny share of the fleet.
According to Mr Jacob, about 100 Falcons are in operation in Asia, representing a mere 1% of the 2,100 Falcons in service worldwide.
The two biggest operators of Falcons on a geographic basis are North America and Europe, accounting for 65% and 26% of the global fleet.
The percentage of the overall global fleet in other geographical regions is in single digits.