Business jet market in the Middle East poised for steady growth with over 200 units to be delivered by 2015
The business jets market in the Middle East is poised for steady growth, with over 200 units expected to be delivered to the region by 2015, according to an estimate released by global research and consulting firm Frost & Sullivan. With the region currently accounting for approximately six per cent of the global business jets market, and demand for an additional 400 units expected to surface within the next eight years, the market for these luxury aircrafts is set to witness further growth. Amidst the rising demand, the upcoming 'Big Boys Toys' event in Abu Dhabi is expected to attract top aviation customers across the globe during its four day run at ADNEC (the Abu Dhabi National Exhibition Center) from 2nd to 5th February 2011.
The Middle East, especially the UAE, has been witnessing a growing demand for private charter flights, as the responsibilities of top executives based in the region involve quick and frequent trips abroad. Despite the economic downturn, a top official from leading aircraft manufacturer Airbus stated a 'five per cent increase in the demand for customer jets in the Middle East region, which was driven by the continuous increase in airline traffic'. As the region continues to dominate the charter market as a favoured point of departure to global destinations and also as a favourite destination, 'Big Boys Toys' is expected to draw in high net worth individuals, the key target audience for luxury aircrafts and services.
"The region's charter industry has seen significant growth in the recent years to its present value of USD 500 million, as the demand for luxury private charter jets and services continue to rise as a result of business strategy revamps, mergers and acquisition among global companies"," said Biju Jayaraaj, CEO, Artaaj. "'Big Boys Toys' comes at the right time as the business jets market is picking up in the region and UAE, and exhibitors aim to meet the needs of high net worth customers or owners of private jets who are more focused on ergonomics, ambience and luxury."
A must-attend for consumers and HNWI in the region, 'Big Boys Toys' will bring together the 'best of the best' products and services combined with live demos and activities that will appeal to the high net worth male consumer. Offering companies the ideal platform to highlight their latest offerings in services and jet models to HNWIs and top business executives, the previous edition of the event has attracted leading global companies, including Flugschule Gunar Barthel (Germany), Flying Machines (France), Land and Space Aviation (Saudi Arabia), Nirvana Systems (Czech Republic), Orange Sky (Lithuania), Skyjam (Switzerland), Tyrolean Jet Service (Austria), and two local exhibitors, Ultimate Heli and Emirates Aero Sports. With seven original zones: Drive, Ride, Off Road, Marine, Aviation, Digital and Lifestyle, and three new ones: Fitness, Fashion and Adventure, the exhibition is expected to feature more than 100 exhibitors, across 46 exclusive categories showcasing their products to an affluent target audience of over 60,000 visitors.