The business jet fleet in the Asia-Pacific region declined by 2.4 percent, or 30 aircraft, to 1,196, according to industry analyst Global Sky Media. In its 2022 fleet report, Global Sky reported the region received 31 new-production jets and added another 58 preowned aircraft. Meanwhile, 119 jets left the region.
Global Sky Media attributed the faltering market at least in part to ongoing challenges from the Covid-19 pandemic that were compounded by supply-chain and manufacturing disruptions. This tempered OEM activities and all of this has taken a toll on cost, pushing it higher.
As for the additions, Global Sky Media said light and very light jet models have seen expansion, fueled in part by the Cessna Citation Mustang and Pilatus PC-24. In fact, they are the only categories of fleet growth in 2022, with light increasing by six models, to 278, and very light by eight models, to 87.
The large-cabin jet fleet in the region contracted by 15 units, to 213, and the long-range category slid by 17 aircraft, to 369. The corporate airliner fleet eroded by seven models, to 102. With this changing dynamic, Textron has overtaken Bombardier as the fleet leader in the region at 323 units. Bombardier now has 315 aircraft in the region, according to Global Sky.
More than half of the top 20 operators saw a net reduction in flight size but six saw growth. China remains the largest market for business jets, even with an 11.2 percent reduction, to 301 aircraft, in 2022. Fleets grew by a net 7 percent in Australia and India in 2022, placing them in second (221) and third (148), respectively, in total number of business jets.