Embraer remains optimistic about Asia, predicting a market for 1,500 business jet deliveries worth $54 billion through 2025 in the region. The Greater China region alone is expected to account for more than half of that, with 800 business aircraft deliveries valued at $31 billion.
These predictions come as the fleet in the Greater China region has grown by 25 percent year-over-year over the past six years to nearly 450 aircraft. The Greater China region now hosts 2.8 percent of the world’s executive jet fleet by units, equivalent to 5 percent by value, but Embraer (Chalet 7) believes the latter will reach 12 percent by 2025.
Fueling these predictions is the continued growth of the Chinese economy, which was among the leaders in GDP growth at 6.9 percent last year. Additionally, five cities in Greater China ranked in the top 20 cities around the world in numbers of billionaires.
Fernando Grau, director of marketing and product strategy at Embraer, added he believes China will eventually expand to become the second-largest market behind North America.
Guan Dongyuan, senior v-p of Embraer and president of Embraer China, noted that China executives are becoming more educated about business aviation and are understanding better the value of business jets. Embraer has positioned its fleet in the market to tap into a cost-conscious Chinese market. “Chinese customers appreciate good value,” Dongyuan said.
The Embraer fleet has grown to 89 jets in Asia, including 32 in Greater China. These include the first Legacy 500 delivered in China in January and the first Phenom 100E for a Chinese customer in December.
Heading into ABACE, the company had sold a total of 36 aircraft in Greater China to 15 customers. Deliveries to China, however, slowed from seven in 2014 to three last year.
Throughout Asia Pacific, Embraer has placed executive jets in 17 countries, with the Legacy 600/650 representing the largest share of the manufacturer’s fleet at a combined 49 aircraft.
The company brought three aircraft on display here: a Legacy 500, Legacy 650 and Lineage 1000E.
