Hong Kong based boutique private jet advisory practice Firestone Management Group is seeing a sharp rise in private jets in the last three years.
The researcher found 136 private jets registered in India as of March 15, 2011.
Most Less than 10-Years-Old
Of the total 136 private registered jets, 95 were said to be manufactured less than 10 years ago, i.e. about 70% of the installed base.
Now comes the interesting part.
In the last three years alone, 43 jets have been added to the registry representing a 46% growth.
The growth in Indian economy and corporate sector certainly seems to be giving a fillip to the private jets business in the country.
Firestone Management Group’s managing director Justin Firestone is gung-ho about the prospects for private jets in India:
The growth opportunity for private jet manufacturers to deliver their products into India is tremendous. As the world’s largest democracy, the second most populous country and one of the fastest growing major economies, this quantitative data indicates India is clearly embracing the need for safe and efficient business jet travel.
Firestone Management said Hawker Beechcraft was leader of the private jet pack in India with 35 jets (26%), followed by Cessna Aircraft Company with 31 jets (23%), Bombardier with 24 jets (18%), Dassault Falcon Jet with 17 jets (13%) and Gulfstream Aerospace with 15 jets (11%).
Embraer, Boeing and Airbus have yet to reach double digits with 9, 3 and 2 private jets respectively.