Aerial photography of the Textron Cessna Latitude business jet flying over Keystone Lake, Oklahoma. Mid-Continent Airport (ICT)
Asian Sky Group released its Asia-Pacific Region Survey 2017 Q1, with 323 respondents. The report found, in general, that market optimism regarding the current economy has grown 7% since the fourth quarter of 2016. But the report also showed a 5% decrease in aircraft utilization compared to last quarter. Greater China reported increased aircraft utilization for the 2017 Q1, while Oceana reported no change, and South and East Asia reported a decrease.
Of the participants, 91 were from South and East Asia, 88 from Central Asia, 77 from Greater China, 50 from Oceania and 17 marked as “others.” The majority of overall respondents, at 187, reported having business jets or turboprop aircraft. Helicopters were represented by 75 respondents.
Most aircraft have a reported balance in supply and demand. Asian Sky Group outliers include the Airbus ACJ318, and the Embraer L600 and L100 — all three are met with a supply imbalance. On the other side, outliers experiencing demand imbalance include the Dassault F2000LXS and F2000S, and the Gulfstream G450. Asian Sky Group said based on its market indicators, the Bombardier Global 6000 and Challenger 605, and the Dassault Falcon 2000 class and various Gulfstream models, “appear well positioned to find available buyers.”
The report highlighted South Korea. Framing that nation as an up-and-coming economic “powerhouse,”Asian Sky Group said the business aviation industry is preparing to cater to those needs.
Korea had reported 22 fielded business jets at the end of 2016; 36% of them being Cessnas, 23% Boeings, 15% Gulfstream and 14% Bombardier. One Airbus and one Hawker business jet were reported to be in operation. Commercial airliner Korean Air operates six Cessnas, two Bombardiers, two Boeings and one Gulfstream. The number of operational business jets in Korea is up from a reported total of 19 in 2015.
You may read the survey findings in their entirety here.