The business jet market in Asia has become more diverse without any significant domination by China, thanks to growing numbers of clients across the region who are opting for private aircraft to enhance their operations, according to Dassault Aviation.
Carlos Brana, executive vice-president for civil aircraft at French aerospace firm Dassault Aviation, said there is growing demand for private jets in the Asia-Pacific region as many companies have to conduct business abroad.
The growth of business jet aviation would usually be associated with a country's GDP, but when it comes to countries where there is only a handful of private jets, the growth rate could be higher than the country's GDP growth rate, said Mr Brana.
Over a decade ago, the private jet market in the region was largely driven by Chinese buyers as the country was enjoying an economic boom.
Many companies in other markets have also realised the necessity of having private air transportation as their businesses expand overseas.
Mr Brana said targeted clients for Dassault are not only Asian corporations with an international presence, such as firms with subsidiaries abroad, but also governments.
There are now about 100 Falcon aircraft in the Asia-Pacific region, with China being the largest market with 22 of this model of aircraft.
Within Southeast Asia, Malaysia has the most Falcon aircraft (8), while there are four operating in Thailand.
According to the "Asian Sky 2023" fleet report, business jets in Thailand increased for a third consecutive year to 40 aircraft, up from 30.
The overall trend also showed that buyers are shifting towards longer-range jets.
Mr Brana said even though orders of Falcon jets in Asia have been rather sluggish, there is still demand for private jets, but some prospective customers may just be delaying their purchasing decision for now.
In 2024, Dassault planned to produce at least 35 Falcon jets. It delivered 32 of them in 2022 and 26 in 2023.
Although the pandemic hit the supply chain across the entire aviation industry, the situation at Dassault has been improving.
Due to its smaller production capacity compared to large commercial aircraft manufacturers, supply-chain disruption should not be an issue in this sector, said Mr Brana.
Although recent trends show strong bookings in the premium classes such as business and first class among airlines, this does not affect the growth of the business jet market as it caters to different segments.
Being smaller aircraft, private jets allow business travellers to reach any airport close to their destination. This allows passengers to save time during their trip and offers them greater flexibility.
Given that the Thai government is aiming to be an aviation hub by 2030, Mr Brana said the authorities needed to make sure private jet operators have sufficient slots and improve the aviation infrastructure at the same time.
It could be an opportunity to have a fixed-base operator and a maintenance, repair and overhaul (MRO) facility dedicated to private jets in Thailand if there are signs of rising demand.
Dassault now has an MRO in Kuala Lumpur, which could serve all clients within Asia.
Among Dassault's latest long-range models are the Falcon 6X, which is capable of flying a distance of 10,186 kilometres, and the Falcon 10X with a range of 13,890 km. Delivery of the Falcon 10X will commence in 2027, while deliveries of the Falcon 6X began last year. The models are able to fly directly from Thailand to European destinations.
