Asian Sky Quarterly 2022 Q4
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
MENA MARKET PROFILE<br />
The Middle East and North Africa (MENA) business jet fleet contracted by 4.3% over the past three-year period,<br />
which was attributed to the effects of the global pandemic and its subsequent economic difficulties impacting<br />
the market. The helicopter fleet, in contrast, expanded at a rate of 3.7% over the same period, with domestic use<br />
not as heavily affected as fixed wing aircraft. Since the first quarter of <strong>2022</strong>, however, the region’s overall sector<br />
has made positive strides because of several key factors that have assisted the region in capitalizing on the<br />
strong value proposition and resilience of the sector.<br />
Tourism has been a big part of the region's growth in recent years, and regional operators have kept growing<br />
their charter services by coming up with new business models that make business aviation a flexible, safe, and<br />
personalized way to travel.<br />
High-net-worth individuals (HNWIs), especially the growing expatriate population in the Middle East sub-region,<br />
have helped to drive up market demand as an increasing number relocate or move business operations to the<br />
sub-region. Attractive ownership benefits like private jet card programs have also supported the market.<br />
DATA BY<br />
Note: Due to the difference in statistical methods between data sources, the data presented in the <strong>Quarterly</strong> report may differ from the data displayed in the Business Jet Fleet Report.<br />
8 | GLOBAL SKY QUARTERLY — FOURTH QUARTER <strong>2022</strong>
Change language