Middle Eastern private jet owners younger, spend more on planes

DUBAI, 5 Nov. 2015. The typical private jet owner in the Middle East is male, nearly five years younger than the global average and has planes that are worth three times more than his peers' jets, according to a white paper by Wealth-X and WINGX Advance.

The white paper, titled “Private Aviation in the Middle East: Owner Profile, Trends, and Business Opportunity” and released in advance of the Dubai Air Show, underscores opportunities in the region for the private aviation business, estimated to be worth about $10 billion over the next decade.

WINGX estimates fleet and activity growth at a 7 percent compound annual growth rate (CAGR) over the next 10 years, and inflow of at least 400 business aviation aircraft. The net increase in the business fleet will be at least 250 units.

Key findings from the report include:

There were 10,113 private flights between the Middle East and Europe from January to September, 2015, a 4.8% increase over the same period last year

The Challenger 600 is the busiest jet operating out of the Middle East year-to-date.

Turkey is the top European destination for private jets from the Middle East this year. A similar number of flights have headed to the United Kingdom and France.

Wealth-X is the global authority on wealth intelligence, providing sales, marketing, strategy, and compliance solutions to clients in the financial services, luxury, not-for-profit, and education sectors.

WINGX provides data, market intelligence, and consulting on the global business aviation market for customers including aircraft manufacturers, engine and avionics suppliers, airports, MRO businesses, aircraft operators, brokers, fuel suppliers, FBOs, insurance companies, banks, regulators, legal advisors, leasing companies, investors, and owners of business aviation aircraft.