Middle Eastern Private Jet Owners Are Younger And Spend More On Planes Than Global Average

Nov 04, 2015, 00:00 ET from Wealth-X

DUBAI, United Arab Emirates, Nov. 4, 2015 /PRNewswire/ -- 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 today ahead of the Dubai Air Show, underscores opportunities in the region for the private aviation business, estimated to be worth about US$10 billion over the next decade. WINGX estimates fleet and activity growth of around 7% CAGR over the next 10 years, an inflow of at least 400 business aviation aircraft. The net increase in the business fleet will be at least 250 units..

Below are key findings from the report:


Middle Eastern Jet Owners

Global Jet Owners

Average Age

59.1

63.6

Average Net Worth

US$1.09 billion

US$1.66 billion

Self-Made

31.0%

75.1%

Inherited

9.9%

8%

Self-Made/Inherited

59.1%

16.9%

Average Value of Plane(s)

US$48.8 million

US$16.4 million

 

  • 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.

Download the full report here.

About Wealth-X
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. Its award-winning research and thought leadership are regularly cited by the world's media such as CNBC, Financial Times, Thomson Reuters and BBC. Wealth-X has more than 250 staff in 10 global centers, including Singapore, London and New York (www.wealthx.com)

About WINGX Advance
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. (www.wingx-advance.com)

SOURCE Wealth-X



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