Market Introduction
All non-scheduled flights, including aircraft that are not operated by the military or commercial airlines, are categorized under general aviation. General aviation is opted for a weekend visit to the desired destination, overnight package delivery, emergency medical evacuation, crop dusting, inspection trips to remote construction sites, etc.
Strategic insights for the Asia Pacific General Aviation provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market. The geographic scope of the Asia Pacific General Aviation refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.Asia Pacific General Aviation Strategic Insights
Asia Pacific General Aviation Report Scope
Report Attribute
Details
Market size in 2021
US$ 2,977.89 Million
Market Size by 2028
US$ 4,497.52 Million
Global CAGR (2021 - 2028)
6.1%
Historical Data
2019-2020
Forecast period
2022-2028
Segments Covered
By Component
By Aircraft
Regions and Countries Covered
Asia-Pacific
Market leaders and key company profiles
Asia Pacific General Aviation Regional Insights
Market Overview and Dynamics
The Asia Pacific general aviation market is expected to reach US$ 4,497.52 million by 2028 from US$ 2,977.89 million in 2021; it is estimated to grow at a CAGR of 6.1% from 2021 to 2028. Factors such as surge in demand for business jets and rise in demand for electrification and overhaul services for existing fleet propel the growth of the general aviation market. However, the predicted onset of the third wave of COVID-19 outbreak by research organizations across Asia Pacific may hamper the market growth.
The popularity and adoption of business jets are expected to increase in the next decade due to the inclusion of new models in the service. In Asia Pacific, countries such as China, Japan, and South Korea together account for more than two-thirds of the regional demand for business jets and helicopters each year. In addition, the demand for business jets, particularly for the large and medium-size jets, is on the rise in Southeast Asia. Gulfstream, Bombardier, and Textron are among the major sellers of business jets in Asia-Pacific. Despite a dip in the sales volumes in the last two years, business jet manufacturers are considering China and India as lucrative markets. Charter flight activities experienced a significant growth in the first half of 2020 due to the travel restrictions enacted by various governments upon the onset of COVID-19 outbreak. Despite these favorable conditions, private buyers were reluctant to buy new jets in that year, which resulted in the limited number of orders in 2020. However, the demand for business jets is expected to increase in the coming years due to the persistent surge in charter activities and business travel in the region. For instance, in the first quarter of 2021, Embraer delivered Phenom 100EV to an undisclosed Australian customer. Further, with the increasing demand from end users, the aircraft OEMs are expanding their customer support and service capabilities, which would contribute to the general aviation market growth during the forecast period. The newly growing interest in aviation electrification is attracting contributions from the manufacturers of aircraft, energy supply equipment, and battery storage. Most of the vendors in the aircraft industry are focusing on the development of advanced electric systems meant for deployments in different aircraft assemblies. With the rapidly growing aviation industry from the past few years, the demand for aircraft overhaul services is also increasing. Emerging economies in APAC are highly focused on extending overhaul services to general aviation aircraft and helicopters. Economic growth, increasing air passenger count, and growing aviation infrastructure spending in APAC countries are among the major factors driving the sales of aircraft overhaul services. A general aviation aircraft engine has a lifespan of ~10–12 years, after which it requires the replacement or overhauling of the whole system, along with its periodic maintenance. Similarly, other components, such as airframe, avionics, and landing gears, need periodic maintenance for efficient flight operations. Thus, the growing focus on electrification of aircraft components and deployment of electronic systems, and escalating demand for periodic maintenance and overhaul services are among the major trends in the general aviation market.
The COVID-19 pandemic has disrupted the APAC’s economy and the region’s aerospace market and changed the customer attitude toward the sector. The region has witnessed a significant decline in the air transportation. As per IATA estimates, Asia-Pacific airlines recorded a revenue decline of US$ 113 billion in 2020 compared to 2019. The reduction in air travel demand, and border restrictions have resulted in the grounding of aircraft at an unprecedented scale. From aircraft manufacturing and assembly viewpoint, China is one of the leading aerospace manufacturing countries in the region and has been one of APAC's most affected countries during Q1 and Q2 of 2020. Therefore, the manufacturing facilities are witnessing severe conditions in general aviation aircraft and component manufacturing facilities. Airbus and Boeing manufacturing facilities in China were shut down for a longer period, which resulted in substantial lesser demand for various components and systems, such as wheels and brakes. Similarly, China’s indigenous aircraft manufacturer COMAC also halted its production of C919 during Q1 of 2020, which hindered the general aviation market. However, the aviation authorities, airlines, and aircraft manufacturers foresee a strong growth in APAC aviation industry. Owing to this, several airlines are ordering and taking deliveries of newer aircraft models. This is expected to drive the demand for general aviation aircraft components among business jets and helicopter manufacturing facilities along with turboprop aircraft manufacturers.
Key Market Segments
Based on component, Asia Pacific the general aviation market is segmented into avionics, airframe, landing gears, engines, and others. The engine segment led the general aviation market with a larger market share of in 2020 and the same segment is estimated to register the higher CAGR in the market during the forecast period.
Based on aircraft type, the Asia Pacific general aviation market is segmented into fixed wing and rotary wing. The fixed wing segment led the general aviation market with a larger market share in 2020. Further, the same segment is expected to witness fastest CAGR during 2021 to 2028.
Major Sources and Companies Listed
A few of the market players associated with this report on the Asia Pacific general aviation market are the Leonardo S.p.A., Boeing and Airbus.
Reasons to buy the report
The Asia Pacific General Aviation Market is valued at US$ 2,977.89 Million in 2021, it is projected to reach US$ 4,497.52 Million by 2028.
As per our report Asia Pacific General Aviation Market, the market size is valued at US$ 2,977.89 Million in 2021, projecting it to reach US$ 4,497.52 Million by 2028. This translates to a CAGR of approximately 6.1% during the forecast period.
The Asia Pacific General Aviation Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific General Aviation Market report:
The Asia Pacific General Aviation Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific General Aviation Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific General Aviation Market value chain can benefit from the information contained in a comprehensive market report.