ARCOSJET : PERFORMANCE BJS TO REMAIN MARKET DRIVERS IN ME

Market research by aircraft brokers and advisors ArcosJet has revealed that larger business jets dominate the Middle East business fleet, with a 67-percent share of 500+ aircraft operated in the interests of local owners.

Fueled by COVID’s impact on the air transportation system, UHNWI growth forecast, and overall economic conditions, ArcosJet predicts a rise in business liners (up to 18% of the local fleet), long-range (22%), and large bizjets (27%) to be the most stable niche in the market in the nearest future.

“That is the characteristic of the region. Someone from the Middle East can only reach the closest world economic and financial centers in Asia or Europe with a minimum 5 to 8-hour flight time, not to mention going to the USA,” commented Mikhail Alenkin, ArcosJet CEO and founder.