According to research by aircraft broker ArcosJet, Brazil is not only the largest business jet user of the BRICS countries (Brazil, Russia, India, China and South Africa), it also has a mature fleet structure with hundreds of light jets forming the base and fewer large aircraft toward the top. It is also the only BRICS member to have a major domestic business jet manufacturer–Embraer.

Despite the economic downturn that affected all BRICS countries and hit Brazil and Russia most severely–Oxford Economics predicts just 2.6 percent and 2.4 percent GDP growth in 2016 to 2020, respectively–ArcosJet experts believe that these emerging markets still hold much promise even in the near term.

With 772 registered business jets, Brazil claims the third-largest fleet worldwide after the U.S. and Mexico and will continue to be a leading market in South America, Russia-based ArcosJet said. With its abundance of light jets, which constitute the bulk of this fleet, it could also be a source for customers from other BRICS countries looking to acquire pre-owned aircraft.

Brazil’s business jet fleet structure differs greatly from its counterparts, especially Russia and China, since it closely resembles that of the mature U.S. market, with many light jets forming the base and fewer large aircraft toward the top. In fact, ArcosJet said there are just 68 large and long-range business jets in Brazil, while the remaining 704 aircraft are mainly light and midsize jets. As buyers in Russia and China begin to “appreciate the value and use of light jets,” the company believes Brazil will serve as a great example for small and medium businesses in these countries, in addition to being a source for pre-owned aircraft.