Middle East & Africa General Aviation Market - Opportunities, trends and Challenges (2018-2023)
General Aviation includes all aviation activities except those of scheduled commercial airlines and the military.
Global General Aviation sector is showing tremendous growth due to growing interest of the general public. Another factor is the growing number of millionaires. The numbers of millionaires in the world are rising at a tremendous pace. The number of millionaires in the world increased by more than 13% in 2015, as compared to 2014, taking the total number past the 17 million mark.
The Middle East is a very wealthy region, but the income is concentrated only in the top echelons of society , so the growth of the market though strong will be limited. Same is the situation with Africa, although due to countries like South Africa, Nigeria, Egypt and Ghana, this trend is slowly changing. These countries are experiencing a surge in the number of middle class population and a general rise in levels of prosperity which is slowly increasing the market for General Aviation Aircraft in the region.
The Business Jet Market Currently is close to $2 billion in the region and it contributes the highest revenue in the Middle East & Africa General Aviation Market; moreover, the Business Jet Market is poised to show one of the fastest growth rates in the future as well. The three broad categories of business jets are Large Cabin, Medium and Small Cabin Jets.
The aviation market in this region was increasing at a very rapid pace until 2013 when the oil prices were going steady and at record highs. But the oil prices have crashed since then which has affected the finances of the states greatly. Most of the countries in the middle east region can balance their budgets when the price of oil is near to $100 per barrel mark, but with the oil prices close to $45 per barrel currently, the level of disposable income has reduced which has greatly affected the aviation market. Still there is high demand for aircraft in this region and is expected to register high levels of growth.
The market growth will be led by Nigeria, Ghana and South Africa which will show high rates of growth. The market for general aviation aircraft is at a very nascent stage in Nigeria and Ghana, that will be one of the reasons for high rates of growth, but in future these markets will emerge to be one of the important General Aviation Markets
What the report offers
1. Market analysis for the Middle East & Africa General Aviation Market, with region specific assessments and competition analysis on global and regional scales
2. Market definition along with the identification of key drivers and restraints
3. Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
4. Extensively researched competitive landscape section with profiles of major companies along with their market shares
5. Identification and analysis of the macro and micro factors that affect the Middle East & Africa General Aviation Market on both global and regional scales
6. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
7. A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
8. Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped