China will need 805 executive jets over the next 10 years with demand for large-cabin business jets to account for 51 percent of the demand, according to a just-released forecast by Embraer Executive Jets.
The market outlook was released at the Chinese International Business Aviation Show in Beijing, China.
China’s fleet of executive jets has grown an average of 27 percent annually from 2008 to 2012, fueled by a 26 percent growth in its wealthiest population. That’s according to the Hurun Report, Embraer said.
The overall environment calls for the development of business aviation to meet demand for business and leisure travel beyond the destination and schedule limitations of the airlines, Embraer said.
China is also improving its infrastructure and has added fixed-base operators, which are expected to rise to nine from five.