Middle East private aviation industry set to boom
Despite the current challenges facing the sector, the private aviation industry in the Middle East could triple over the next 20 years, according to industry experts at a recent Clyde & Co seminar, titled ‘Middle East Business Aviation Market Update.’ The seminar was held in conjunction with Bombardier Business Aircraft, one of the global leaders in business jets.
The inaugural seminar, organised ahead of the Middle East Business Aviation (MEBA) conference, was opened by Oliver Tebbit, partner at Clyde & Co, and featured a keynote speech by Khader Mattar, regional vice president, Sales, Middle East, Africa and India, Bombardier Business Aircraft, as well as panel discussions involving a host of leading figures in the private aviation industry. According to Bombardier, orders for large cabin aircraft remain the most popular in the Middle East. The seminar addressed what is needed to help further drive growth levels, with Khader Mattar stating that Bombardier’s market forecast predicts the business aviation fleet in the Middle East to increase by 1,185 jets from new aircraft deliveries over the next 20 years. 50 per cent of the forecast revenues are expected to be in the large category, worth approximately USD 18 billion.
According to the panelists, the Middle East is the next booming market in the world and, despite currently lagging behind the US and Europe, is set to see solid and impressive growth over the coming years.
Tebbit said, “The region is an established market and is witnessing some notable activity, especially in the GCC. Jet ownership has developed significantly over the last few decades and as the industry in the region evolves, we can expect continued growth in the years to come.”