Business Aviation Market Intelligence

Asia-Pacific Mood & Intentions – Asian Sky Quarterly Q3 2024

Asia-Pacific Mood & Intentions – Asian Sky Quarterly Q3 2024

This article is extracted from the most recent edition of The Asian Sky Quarterly.
To read the full article, please download our Asian Sky Quarterly Q3 2024 Report.

Quarterly Survey Respondent Breakdown

Q3 2024 Survey Highlights

  1. Compared to Q2, the optimism levels in Asia-Pacific, the Middle East & North Africa in Q3 declined from 79.7% to 77.2%. Greater China and Oceania witnessed an increase in economic optimism, while Middle East & North Africa, South Asia, and Southeast & Northeast Asia saw a decline.
  2. A total of 48.8% of respondents indicated that their aircraft utilization increased in Q3, whilst 26.2% noted a decrease in utilization. Additionally, 25.0% felt their utilization remained unchanged.
  3. Among all respondents, 56.6% expressed their interest in purchasing an aircraft within the coming year – a figure consistent with the previous quarter. Of those interested, 34.0% planned to buy a pre-owned aircraft, while 22.6% preferred a new one. Large jets and twin turbines continue to be the most popular choices for fixed-wing aircraft and helicopters, respectively.
  4. Only 29.4% of respondents perceived the market for preowned aircraft as relatively balanced, a decrease from 43.3% in the previous quarter. Meanwhile, 41.2% viewed it as a buyer’s market, and 20.6% considered it a seller’s market.
  5. Some 44.4% of respondents planned to charter aircraft in the next three months, down from 48.7% in the previous quarter.

In Asian Sky Group’s Q3 2024 survey on the industry’s mood and intentions, we received more than 200 responses from business aviation professionals. The regions with the most respondents included:

  1. Southeast Asia and Northeast Asia (32.4%)
  2. Greater China, mainly covering mainland China and Hong Kong SAR (23.9%)
  3. Oceania (10.6%)
  4. South Asia (8.5%)
  5. Middle East and North Africa (4.2%)

Approximately half of respondents (50.2%) came from the business jet sector, while the remaining respondents were primarily from companies involved in business turboprop (23.7%) and turbine helicopter (21.7%) related activities.

A total of 30.9% of respondents were engaged in aircraft sales or charter brokerage, while those from aircraft operator companies and service providers accounted for 29.1% and 24.5%, respectively.


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INDUSTRY REPORTS