“In the Asia-Pacific region, the UHNWI population is expected to grow by one third during the forecast period, with buyer spending increasingly influenced by both geographic and cultural realities.”
President, Jetcraft Asia
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Unsurprisingly, Asia-Pacific’s UHNWI are more likely to buy a Large jet than customers in other regions due to their need to travel longer distances. Singapore to Sydney for example, a common route of nearly 4,000 miles, is close to four times that of a similarly popular North American route. This need for larger aircraft, combined with the predicted UHNWI population growth over the next five years, highlights the region’s potential. Higher net worth individuals are naturally more inclined to purchase higher-priced, larger aircraft, with their greater range, improved passenger comfort, and all-round performance capabilities. A sign of Jetcraft’s confidence in the region is our recent expansion through additional offices in Australia and Singapore.
Average purchase price (USD) per net worth group
Average purchase price (USD) compared to forecasted
UHNWI population growth (2021-2026) per region
Globally, all regions’ UHNWI populations are set to increase by at least 21% over the next five years, showing opportunity for continued increasing demand for pre-owned aircraft.
As recently noted by Corporate Jet Investor, South East Asia, Australia and India are presently more active markets than China, however, this is presenting opportunity in itself, with China acting as a quality source of aircraft and feeding demand around the world.