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| Thursday, 10 June 2010, 13:30 HKT/SGT | |
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Source: Gulfstream | |
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HONG KONG, June 10, 2010 - (ACN Newswire) - On the eve of the Asian Business Aviation exhibition in Macau, Gulfstream's senior executive for the region, Roger Sperry, told reporters gathered in Hong Kong that Asia has emerged as one of the strongest markets for business aviation and for Gulfstream in particular.
"The market is robust, the business culture is dynamic, and more companies are discovering the flexibility and advantages provided by business aviation," said Sperry, Gulfstream's divisional vice president, international sales, South America and Far East.
Gulfstream is the leader in the large-cabin, long-range segment with aircraft such as the 6,750 nautical-mile-range Gulfstream G550 and the new G650, which is destined to be the world's largest, fastest, longest-legged business jet. The G650 made its maiden flight on November 25, 2009, and achieved its projected maximum cruise speed of Mach 0.925 on May 2. The aircraft will have a range of 7,000 nautical miles, connecting Hong Kong and London an hour faster than its sister aircraft, the G550. Gulfstream has a 200-order backlog for the G650, its new flagship aircraft.
Today, Gulfstream accounts for 63 percent of the large-cabin, long-range business-jet installed fleet in China, Hong Kong and Macau.
"When we look at the market for China and the region we see considerable upward potential," said Sperry.
Asia was the most robust market for business jets last year, growing 15 percent versus 2008, according to aerospace analyst firm Teal Group. That outpaced Europe at 13 percent and the U.S. at just 2 percent. Gulfstream has seen its sales shift from 60 percent North American to 60 percent international in the last few years, with much of the shift toward Asian markets.
Teal Group projects that the strongest growth between 2010 and 2019 will be in the large-cabin segment, which accounts for the majority of Gulfstream sales.
Sperry pointed to a number of trends supporting the growth of business aviation in Asia:
- Strong wealth creation in the last decade
- Robust Asian economies
- A dynamic business culture
- Simplified flight-planning procedures in China
- A commitment by the Chinese government to build 97 airports by 2020
- Cooperation of the General Administration of the Civil Aviation of China (CAAC) in the certification and registration of business aircraft
- New financing sources, such as Minsheng Bank
- Recognition in government and industry that business aviation helps foster economic growth
He also spoke to some of the challenges of selling in the region. "The infrastructure − airports, ramp space, business-aviation terminals and service facilities − is increasing, but is still being outpaced by demand for aviation services. That said, we see government agencies recognizing these challenges and are encouraged by their support," Sperry said.
Gulfstream is making a major commitment in resources to the region, Sperry said, and intends to maintain its leadership position. Just in the last year, the company has doubled spare parts at bases in Beijing, Hong Kong and Singapore. It also placed a team of technicians with Deer Jet in Beijing, the largest fleet operator of Gulfstream aircraft in the region, as well as interior maintenance specialists in Hong Kong. The company has a service presence on six continents with 44 facilities, which include those of sister company Jet Aviation. Jet Aviation has a presence in Hong Kong and Singapore.
Gulfstream has had a long and close working relationship with Hong Kong's Metrojet, which manages business aircraft for companies and individuals, and it has developed a relationship with a major regional leasing company, Minsheng Bank.
"We are focusing intently on building close and successful relationships with our customers, and providing the industry-leading service for which Gulfstream is famous," Sperry said. Gulfstream has routinely been named No. 1 in product support in surveys conducted by major industry trade publications, such as Professional Pilot and Aviation International News, for more than a decade.
Contact:
Jeff Miller
Communications
jeff.miller@gulfstream.com
+1-912-965-7372 (office)
+1-912-224-8222 (mobile)
Topic: New market for product
Source: Gulfstream
Sectors: Travel & Tourism, Aviation
https://www.acnnewswire.com
From the Asia Corporate News Network
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