Asian Sky Quarterly 2023 Q4

QUARTERLY SURVEY
RESPONDENT BREAKDOWN
Respondent's Business Location
Oceania (11%)
South Asia (11%)
Rest of the World (21%)
Top Business Operation Locations
Singapore (4%)
Germany (4%)
Thailand (6%)
Malaysia (6%)
Indonesia (7%)
Australia (10%)
India (11%)
72% of total
respondents
Middle East &
North Africa (4%)
Greater China (27%)
Southeast &
Northeast Asia (26%)
Philippines (4%)
Hong Kong SAR (19%)
Mainland China (15%)
United States (14%)
Q4 2023 Survey Highlights
MOOD & INTENTIONS: QUARTERLY SURVEY
1. The overall percentage of respondents feeling optimistic about
the regional economy has risen. Only Greater China and South
Asia witnessed a decline in economic optimism.
2. With the steady recovery of the regional economy, respondents
that reported lower utilization has dropped. Southeast and
Northeast Asia, South Asia, and Oceania saw an increase in
aircraft utilization, while Greater China and the Middle East &
North Africa saw lower utilization.
3. Purchase intentions for new aircraft increased, whilst
interest in pre-owned aircraft declined. Large jets were the
most popular category for fixed-wing aircraft, with twin
turbines for helicopters.
4. The pre-owned aircraft market has reached balance to a
certain extent, as half of respondents felt they were in a
balanced market.
5. The price of aircraft remained the top limiting factor that
influenced purchasing decisions.
6. Nearly half of the respondents said they will charter aircraft in the
next three months.
In Q4 2023, almost 300 business aviation professionals
participated in Asian Sky Group’s survey about the mood and
intentions of the industry.
The regions with the most respondents include:
Respondent’s Related Aircraft Type
Turbine Helicopter (19%)
Business Turboprop
(Such as King Air) (21%)
Respondent’s Category
Aircraft Owner /
Charter User (16%)
Piston Helicopter (7%)
Business Jet (53%)
Aircraft Operator /
Management Company (32%)
1. Greater China, mainly covering mainland China and Hong Kong
SAR (27%)
2. Southeast Asia and Northeast Asia (26%)
3. Oceania (11%)
4. South Asia (11%)
5. Middle East and North Africa (4%)
More than half (53%) of the respondents were from business jet
related operations, while respondents related to business turboprops
(21%) and turbine helicopters (19%) came second and third.
A total of 32% of the respondents worked in an aircraft operator/
management company, followed by services providers (FBO, MRO,
etc.) (26%) and aircraft sales/charter broker (26%).
Economic Outlook in the Region
In Q4 2023, the overall percentage of respondents that felt
optimistic about the regional economies in Asia-Pacific, the Middle
East and North Africa grew slightly to 79%.
Aircraft Sales /
Charter Broker (26%)
73% of total
respondents
Service Providers 1
(FBO, MRO, etc) (26%)
In Asia-Pacific, the economic situation is challenging, with increased
global demand for goods to services and monetary tightening
across the region. Damage from global warming and natural
disasters is increasing, especially for some of the vulnerable
countries in Asia. Despite this, Asia-Pacific remains one of the most
FOURTH QUARTER 2023 — ASIAN SKY QUARTERLY | 2