The typical private jet owner in the Middle East is male, nearly five years younger than the global average and has planes that are worth three times more than his peers’ jets, according to a white paper by Wealth-X and WINGX Advance.
The white paper, titled Private Aviation in the Middle East: Owner Profile, Trends and Business Opportunity and released on Wednesday ahead of the Dubai Air Show, underscores opportunities in the region for the private aviation business, estimated to be worth about US$10 billion over the next decade. WINGX estimates fleet and activity growth of around 7% CAGR over the next 10 years, an inflow of at least 400 business aviation aircraft. The net increase in the business fleet will be at least 250 units..
Below are key findings from the report:
- There were 10,113 private flights between the Middle East and Europe from January to September, 2015, a 4.8% increase over the same period last year
- The Challenger 600 is the busiest jet operating out of the Middle East year-to-date.
- Turkey is the top European destination for private jets from the Middle East this year. A similar number of flights have headed to the United Kingdom and France.