Sales to fly as Chinese business aviation picks up
Print Edition
CHINA has been seeing signs of recovery in its business aviation industry with global players gearing up to boost their presence in the market.
“More frequent business activities stimulate the buying of business aircraft or using charter services thanks to the country’s economic growth,” said Jenny Lau, chairperson with the Asian Business Aviation Association.
“A more healthy and rational development in China’s business aviation is on track following multiple years of slowing growth since 2013 after the previous round of market expansion.”
Lau made the remarks at the three-day 2018 Asian Business Aviation Conference and Exhibition, the largest annual business aviation expo in Asia, which ended yesterday in Shanghai.
The event attracted 170 exhibitors, including almost all the world’s major manufacturers of business aircraft with 30 of their flagship models.
Related companies also participated to seek business opportunities from the high-value industrial chain such as systems supply, maintenance, leasing and chartering.
Last year, China was home to 330 jet and 250 turboprop business aircraft. They are supporting business travel, law enforcement, and humanitarian needs, according to AsBAA.
A recent survey showed 61 percent of industry insiders noted aircraft utilization had risen, and a 42-percent jump in the measure since the fourth quarter of 2015.
Global leading manufacturer Gulfstream sees the Asia-Pacific as its largest market, said Scott Neal, the company’s senior vice president for worldwide sales.
In China, Gulfstream’s fleet has grown almost 70 percent since 2013, and 197 Gulfstream aircraft are in service in China.
“While the frenetic pace of activity we’ve seen over the past several years has tempered, we’re seeing initial signs of potential uptick in activity,” said Neal.
Deliveries continued with its fleet in the region growing by almost 6 percent in 2017.
“We see a market evolution in China’s business aviation and forecast a positive outlook for its continuous growth,” said Andy Gill, senior director of business and general aviation in Asia-Pacific for Honeywell Aerospace.
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