Business Fleet Report YE 2022 MENA

REGIONAL OVERVIEW
At the end of 2022, the total fleet in the region stood at 419
business jets. The Middle East recorded the highest growth
rate as a sub-region with the net addition of 32 aircraft, having
seen its fleet reduced by 15 aircraft during the previous year.
Of the 67 additions to the Middle East, 16 were Corporate
Airliners. A total of 35 business jets left the Middle East
during 2022.
Northern Africa saw a net reduction of three aircraft,
having added two units to its fleet in 2022, which was
offset by the departure of five aircraft. The United Arab
Emirates (UAE) saw the greatest fleet growth in the
region, with 27 aircraft added, the majority of which were
Corporate Airliners (eight) and Long Range Jets (13).
Countries such as Israel, Qatar and Egypt each increased
their fleets by three to seven aircraft.
Saudi Arabia and Morocco, the countries which the most net
deduction in 2022, have seen consistent reductions in their
fleets since 2019.
Saudi Arabia, for instance, was projected to lose around
600 HNWIs in 2022, with a portion of that number migrating
to the UAE, thereby potentially transferring business
jet operations over to the Emirates. An anti-corruption
campaign instigated by the Crown Prince over a two-year
period (2017 - 2019) would have undoubtedly eroded trust
and assurances in holding valuable assets and business
interests within the Kingdom.
Another important factor that had potentially shifted the
momentum of business jet growth to the UAE in recent years
was its diverse economy and less restrictive regulations
for allowing multinational corporations to operate within
the Emirates. In contrast to Saudi Arabia, where foreign
companies operating without a local headquarters were
subject to stringent regulations, the UAE had distinct
advantages in attracting foreign investment and continuing
to improve its infrastructure to support its thriving economy.
It was, however, premature to predict that the Saudi
business jet market will continue to decline. Business
initiatives such as Vision 2030 strived to make it easier for
multinational companies to base their headquarters locally,
thereby encouraging diversification for its economy and
broadening its potential beyond oil resources. Expansion
of aviation infrastructure had been taking place in projects
across Riyadh and Jeddah to allow for more charter and
private jet operations.
Morocco’s business jet fleet steadily declined from 26 aircraft
in 2019 to 20 in 2022. The COVID-19 pandemic resulted in a
LARGEST MARKET
128
UNITED ARAB EMIRATES
BUSINESS JET FLEET 2
MOST NET FLEET
ADDITIONS
+27
UNITED ARAB EMIRATES
FLEET GROWTH IN MAJOR MARKETS
Net Fleet Growth
Ranked by 2022 net fleet growth in descending order from the highest.
MOST NET FLEET
DEDUCTIONS
-7
SAUDI ARABIA
SUBREGION 4 2021 2022 2021 2022
Middle East -15 +32 -4.2% 9.2%
Northern Africa +5 -3 12.8% -6.8%
TOTAL -10 +29 -2.5% 7.4%
Net Fleet Growth
Growth Rate
Growth Rate
COUNTRY/REGION 2021 2022 2021 2022
United Arab Emirates -3 +27 -2.9% 26.7%
Israel +6 +7 15.8% 15.9%
Qatar +2 +3 7.1% 10.0%
Egypt -3 +3 -12.5% 14.3%
Algeria +6 0 120.0% 0.0%
Oman -1 0 -11.1% 0.0%
Lebanon -5 0 -35.7% 0.0%
Iran -1 -1 -11.1% -12.5%
Libya 0 -1 0.0% -12.5%
Jordan -2 -2 -13.3% -15.4%
Kuwait -3 -2 -15.0% -11.8%
Morocco -1 -3 -4.2% -13.0%
Saudi Arabia -7 -7 -7.3% -7.9%
Others +2 +5 33.3% 62.5%
TOTAL -10 +29 -2.5% 7.4%
YE 2022 MENA BUSINESS JET FLEET REPORT | 9