The GCC general aviation market is expected to exhibit a growth rate of more than 2% during the forecast period.
- The increased investment in business ecosystem development has boosted the business aviation in the region, subsequently leading to the procurement of more business aviation aircraft.
- Due to the increase in demand for pilot training, many aviation training institutes in the region are buying general aviation trainer aircraft. This is also driving the growth of the market in the region.
- The recent COVID-19 outbreak has propelled the demand for private jet travel in the region owing to the increased risk of infection in airports and the cancellation of commercial flights. The people with very high disposable income are investing in personal aircraft or taking services of private jet companies to avoid civil aviation travel.
Key Market Trends
Helicopter Segment To Exhibit The Highest Growth Rate During The Forecast Period
Helicopters provide a safe, cost-effective, and easy option for private and business travelers for shorter distances. The growing applications of helicopters in the industrial sectors like the energy sector, etc. are propelling the growth of the general aviation helicopter market in the region. In January 2019, Saudi Aramco started replacing its old fleet of AW109 models with AW139 and Airbus H145 helicopters. The new helicopters will be deployed for search and rescue and other strategic roles. In addition, the rise in demand for pilots owing to the increased air travel in the region is propelling the growth of training rotorcraft in the region. In December 2018, EDIC Horizon International Flight Academy procured 2 new Bell 429 helicopters. On the other hand, the growth in the tourism sector in the region is also driving the market growth for helicopters in the region. In 2019, Al Sharqiya Aviation signed a new contract with the Public Authority Of Civil Aviation to start helicopter rental services, Muscat City tour, in Oman. All the aforementioned instances and factors are driving the market for general aviation helicopters market in the region.
Saudi Arabia To Witness The Highest Growth Rate
Saudi Arabia is heavily investing in the strategic development of major sectors that contribute to the country’s GDP. Plans such as Saudi Vision 2030 will focus on the development of various industries to reduce dependence on the oil and gas sector. The tourism and aviation sector is expected to draw a lot of benefits from the ongoing development plans and projects in the Kingdom. Saudi Arabia has opened doors to new businesses and many regional and global aviation and tour operators are planning to capitalize on the market of air travel for VIPs, business executives, etc. In 2018, The Helicopter Company started its operations drawing investments from the Public Investment Fund Of Saudi Arabia (PIF). In September 2019, it started operations with a fleet of AW139 helicopters. In November 2019, NasJet, a business charter subsidiary of Flynas, announced its plan for the procurement of A319-100ACJ and Falcon 900 business jet to boost the business travel in the region. Such factors are driving the development of general aviation market in Saudi Arabia.
The GCC General Aviation Market is a consolidated one with players such as Embraer SA, Textron Inc, Gulfstream Aerospace Corporation, Bombardier Inc., Dassault Aviation, etc. dominating the market. The market is witnessing a lot of future opportunities owing to the ambitious plans of national governments for the development of the tourism and industrial sectors, which may result in significant demand for customized aircraft based on the needs of end-users. In addition, manufacturers are also launching purpose-built aircraft to cater to the needs of different end-users. For instance, in September 2019, Cirrus Aircraft announced its TRAC Series, a purpose-built configuration of the best-selling SR line of aircraft, developed specifically for flight training institutions. With these aircraft, Cirrus Aircraft is poised to target its expansion with its existing customers in GCC including Emirates Flight Training Academy, and Royal Saudi Air Force, among others. Such developments are expected to help the growth of the players during the forecast period.
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