ASG: Southeast Asia Leads Bizav Fleet Growth in Asia-Pac

The business aircraft fleet in the Asia-Pacific region rebounded in 2024 after three years of decline, according to Asian Sky Group (ASG). Led by growth in Southeast Asia, the fleet reached 1,156 in 2024, marking 1.2% growth from 2023.

Mainland China’s business aircraft continued to see erosion, down 4% year over year (YOY), but the country still accounts for the largest market share. Conversely, fleets increased for the second consecutive year in both Australia and India, coming in second and third, consecutively, with 214 and 168 aircraft, respectively.

But Southeast Asia led the net fleet growth in the region by volume last year, with the addition of 17 aircraft. This represented a 6.2% YOY increase, ASG reported. Further, the aircraft broker and data analyst believes the region is likely to pass the 300-aircraft milestone by year-end as Southeast Asian nations see growing tourism, charter, and private travel operations, along with high net-worth individuals.

South Asia followed in net fleet growth with 16 additions. This was a 9.5% increase, that came entirely from India. The region ranks fourth overall in fleet size in Asia-Pacific. Nations in Oceania collectively accounted for a net increase of three aircraft, or up by 1.2% with seven new deliveries and 15 preowned additions offsetting the 19 aircraft that were either retired, stored, or left the region.

East Asia experienced a net loss of one business aircraft to 103 in 2024, making it the smallest fleet in Asia-Pacific, while the Greater China region is down a net 21 aircraft on the year to 331. This was the biggest regional reduction, representing a 6% drop.