The global recession has hit the business jet market hard. It is predicted that the manufacturing of new business jets is not likely to reach to pre-recession levels for almost another ten years. Deliveries of new business jets which stood at approximately 1,300 in 2008 halved to about 600 in 2012. In the Asian region, the players are focused on China and India. It is expected that in the next decade the business aviation industry in India will grow three times and emerge as the third largest aviation market by 2020.Given the economic strengths and the rising demand from India, the business jets sector is betting highly on the market's potential. Currently, India outnumbers both China and Japan when it comes to private jets.
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