Region Develops Position within US$136 Billion Global Business Jet Market
Dubai, United Arab Emirates
The market for small and medium-sized business jets in the Middle East continues to expand at a rapid pace, emerging as a key growth area in the region’s aviation sector.
A number of structural factors in the Gulf including the lack of viable surface transport options, rising demand for greater security in aviation and growing awareness of the productivity benefits of deploying executive jets has driven market growth by as much as 22% in recent months.
In addition, major events like annual meetings of the World Bank and IMF in Dubai, and the forthcoming Dubai Airshow are creating “spikes” in demand across the region for convenient, confidential air travel options. Organizations hosting VIPs from outside the Middle East for meetings in multiple locations, and companies that regularly conduct business at a number of sites are among the main groups currently investigating options for chartering or purchasing business jets.
One reaction to this rising demand has been the emergence of a number of new charter executive Jet suppliers in the summer of 2003, including the launch of companies in Abu Dhabi, Kuwait City and Bahrain. Industry experts have noted that this expansion of the market – accompanied by the growth of associated support and services – suggests that the Middle East’s executive aviation market is maturing at a rapid rate.
“The executive aviation sector in the Middle East has really picked up the pace in recent months, to the point where it’s gaining the attention of interested companies around the world,” said Horm Irani, Managing Director, ExecuJet Middle East. “As a company that provides a full range of total aviation solutions – including aircraft maintenance, aircraft sales and aviation consulting – we’re encountering increased interest in all areas of our operations, reinforcing our belief that the region’s business aviation sector is really taking off.”
Avionics giant Honeywell recently released figures suggesting that the total global value of business jet sales will be worth around $136 billion between now and 2011. When combined with revenue generated by charter services, aviation consulting, maintenance and aircraft services, the overall market size adds up to a highly valuable segment, and one in which the Middle East could emerge as a key territory.
“ExecuJet is in a privileged position to judge the development of the executive aviation market, partly because we’re one of the longest-established companies in this sector, and also because we operate across the entire region, serving a total of ten countries,” added Irani. “From our perspective, this is probably the most exciting time we’ve yet witnessed in this region primarily because of the confluence of passenger interest and available providers, and we’re confident that the Middle East will emerge as a key territory over the next two years.”
ExecuJet Middle East is the first independent business aviation service provider to have received an air operators’ certificate from the UAE civil aviation authority. It provides a total set of aviation services associated with the sale, operation, management, charter and support of modern high-technology business jets in the Middle East.
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About ExecuJet Middle East
ExecuJet Middle East was established in 1999 and is based at Dubai International Airport.
The company provides a complete set of aviation services associated with the sale, operation, management, charter and support of modern high-technology business jets, serving customers throughout the Middle East, north Africa and Europe.
ExecuJet specialises in the sale and support of business aircraft to suit most mission profiles. The company is the official sales and distribution agent for Bombardier’s entire range of Learjet business jet aircraft in 10 Middle Eastern countries including Bahrain, Egypt, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, United Arab Emirates and Yemen. Bombardier Aerospace is a world leader in the design and manufacture of innovative aviation products and services for the regional, business and amphibious aircraft markets.
Furthermore, ExecuJet is also an appointed Pilatus center for the PC-12 turboprop aircraft in the same sales territory.
In recognition of its highly professional aviation service standards and products, ExecuJet Middle East is the sole independent business aviation service provider to have received an air operators’ certificate from the UAE civil aviation authority. Under this certification, ExecuJet operates and manages a selection of aircraft for charter including a Bombardier Learjet 60 mid-size business jet and a Challenger 604 wide-body business jet.
ExecuJet Middle East, in partnership with Bombardier Aerospace, expect to complete construction of a dedicated aircraft service centre and spare parts depot at Dubai International Airport in early 2004. This joint venture is unique in that Bombardier (as an Original Equipment Manufacturer) and ExecuJet (as a service provider) will be the first to offer full representation and support in the region.
ExecuJet Middle East is a member of the ExecuJet Aviation Group, a global aviation group of associated companies located in Australia, the Middle East, Scandinavia, South Africa & Switzerland, providing a comprehensive range of services including, aircraft sales, charter, maintenance, flight operations, aviation services & fleet management.
© Press Release 2003
