Despite uneven economic development across the region, Southeast Asia’s business aviation sector is gaining traction, driven by a rising population of ultra-high-net-worth individuals (UHNWIs), luxury tourism trends, and increased corporate and government demand for private, flexible air connectivity. Industry leaders highlight that while pandemic-era disruptions destabilized commercial networks, they also reshaped regional travel priorities, fueling long-term interest in business jets.

“Up to the pandemic, the business aviation market in Southeast Asia experienced steady growth, driven by expanding local economies and China’s growing business jet market," said Hibiki Umemoto, branch manager of sales at Phenix Jet’s Seletar Airport branch in Singapore. 

“During the pandemic, the market saw a boom from 2021 to 2023, but growth has normalized in 2024. There is clear expansion in Southeast Asian markets, both in terms of flight volume and the total number of aircraft in the region.”

As a high-end provider of aircraft management, AOC services, charters, and acquisition support, Phenix Jet reports that it operates approximately 25% of all private and commercial flights to, from, or within Southeast Asia. With a fleet featuring the Global 7500, Boeing Business Jet, Gulfstream G650ER, and an executive Airbus H175 helicopter available for charter in Southern France and the Mediterranean, the company logs 9,000 to 10,000 business jet departures monthly across Asia-Pacific.

Observing similar growth, Paul Desgrosseilliers, general manager of ExecuJet Haite General Aviation Services, cites data showing a 30% year-over-year rise in flights between China and Vietnam in 2023 and 2024, with Indonesia trailing closely at 25%. Both Malaysia and Thailand recorded approximately 15% annual increases, while the Philippines saw a modest 6% to 7% uptick. In contrast, Singapore remained stagnant.

For Desgrosseilliers, the rise in flight activity reflects a broader business narrative, driven by Chinese companies’ growing focus on Southeast Asia. He emphasized markets like Vietnam as increasingly attractive destinations for businesses expanding regionally and diversifying supply chains—a trend that aligns with China’s push to enhance economic engagement in the region.

“This is a business story. Chinese companies are seeing opportunities in markets like Vietnam and Indonesia,” he told AIN. “Looking at the data and seeing a 30% year-on-year increase, it really shows China reaching outward for additional investment opportunities.”

Having weathered the pandemic—a period that saw many aviation competitors scale back or shutter operations—ExecuJet Haite has capitalized on post-crisis growth. In April 2024, it opened a purpose-built MRO facility at Subang Airport near Kuala Lumpur, supporting Dassault, Bombardier, and Gulfstream aircraft with a full suite of MRO services.

This was followed by the September 2024 launch of a new MRO at Beijing Daxing International Airport, and a month later, business jet ground handling services at Beijing Capital International.

Beyond China, Carlos Brana, executive v-p of civil aircraft for Dassault Aviation, noted that Southeast Asia is attracting heightened foreign investment from South Korea and Japan. This influx, he said, is driving regional production capacity, export growth, wealth creation, and global business linkages.  “These trends are all positive for business aviation,” he added.

Echoing these sentiments, Sino Jet President Jenny Lau attributed sector growth to regional economic development and geopolitical stability, emphasizing that economic expansion continues to drive private jet demand.

With dual headquarters in Hong Kong and Beijing, Sino Jet also navigated the pandemic’s challenges, aided in part by its global presence and luxury offerings. In 2019, the company opened its first office outside Greater China, in Singapore. Last December, it partnered with ground handler Jetex, based at Al Maktoum International Airport, to establish its Middle East international headquarters.

Today, Sino Jet operates in more than 20 cities worldwide, including Europe and North America, offering aircraft management, charter flights, ground handling, FBO services, and luxury travel. Its fleet of more than 40 aircraft is 90% composed of large-cabin jets from Gulfstream, Bombardier, Dassault, Airbus, Boeing, and Embraer. For five consecutive years, SinoJet has maintained the largest business aviation fleet in the Asia-Pacific region.

UHNWIs Drive Demand

“The most significant growth potential in Southeast Asia's business aviation market is tied to the robust expansion of regional businesses and the swift ascent of ultra-high-net-worth individuals,” Lau told AIN. “These clients are increasingly seeking premium, bespoke travel experiences, with a particular focus on the efficiency and security offered by business aviation services.”

In looking at ultra-high-net-worth individuals, a 2024 Knight Frank Wealth report ranks Singapore as Southeast Asia’s top market for UHNWIs, placing it 17th globally with 4,783 UHNWIs in 2023. Hong Kong follows closely at 16th. 

Other regional entries include Indonesia (24th, 1,479 UHNWIs), Thailand (26th, 889), Malaysia (29th, 754), and Vietnam (30th, 752).

Globally, the U.S. dominates with 225,077 UHNWIs and the highest count, trailed by China (98,551) and Germany (29,021).

Against this backdrop, global charter company VistaJet, operating in Asia-Pacific for roughly 15 years, has seen growing demand across its three membership types—Program, VJ25, and Corporate. Ian Moore, chief commercial officer, noted that the Program membership is particularly gaining popularity, thanks to its guaranteed availability, consistent fleet, and fixed hourly rates.

“Up to Q3 2024, total hours flown in Asia-Pacific were up 14%, with total legs up 20%. The Program membership grew by 15% from Q1 to Q3. Southeast Asia has seen moderate growth in terms of total hours and legs, around 1% to 2% for the entire year, but our program membership grew by 11%.”

Charter Versus Ownership

In Southeast Asia, there is a noticeable trend toward charter services over ownership, with business jet ownership remaining relatively subdued compared to more mature markets such as North America, Europe, and the Middle East, explained Yvonne Chan, regional director–Asia-Pacific for Universal Aviation.

“This could be due to global economic and geopolitical uncertainties. Operating costs have also skyrocketed since coming out of lockdown, brought about by inflation and supply chain issues," she said, adding that the region is also seeing a move towards larger, longer-range aircraft.

While Singapore is hailed as the region's business aviation hub, it has no registered business jets, Chan noted. Despite this, the city-state leads with approximately 80 aircraft based there.

Looking at the region, Desgrosseilliers explained there were approximately 282 registered business jets in Southeast Asia by the end of 2023, with the total potentially reaching 300 by late 2024. In individual markets, Malaysia has roughly 50 business jets, while Indonesia, Thailand, and the Philippines each have around 40-50, with slight fluctuations.

In terms of emerging markets, Vietnam now has eight to 10 business jets, a significant increase from pre-pandemic levels when it had virtually none. There is also growing activity in Laos and Cambodia, although these countries are still seeing only single-digit numbers, he said.

While the pandemic has brought new entrants to private aviation, industry stakeholders won’t have to wait long for updated figures. Data from Asian Sky Group on regional fleet numbers is set to be released in March 2025 at the inaugural Business Aviation Asia Forum and Expo (BAAFEx) in Singapore.

Hosting the event is Experia Events, the organizer of the biennial Singapore Airshow, which views BAAFEx as an opportunity to unite the business aviation community. Speaking to AIN, the company’s managing director, Leck Chet Lam, highlighted that Southeast Asia is in growth mode rather than just recovery, which is unlocking new opportunities.

“There are inward investments into this part of the world, and there are also outward investments into the rest of the world,” Leck said, pointing to key economic dynamics.

Rising Economies

Indeed, Southeast Asia—home to nearly 700 million people—continues to demonstrate resilience, even as growth trajectories vary across the region. A December 2024 McKinsey & Company report attributes this momentum to robust exports, surging investments, expanding industrial output, and stable consumer spending in most markets. 

The report also emphasizes the region’s escalating role in global trade and supply chains, driven by geopolitical realignments, infrastructure modernization, and deepening economic integration. Bolstering this ascent is the Regional Comprehensive Economic Partnership (RCEP)—the world’s largest trade bloc, spanning China and ASEAN nations—which is reducing tariffs, streamlining cross-border commerce, and cementing Southeast Asia’s position as a critical nexus linking East Asia, South Asia, and global markets.

Despite rising investments, Moore echoes Chan’s view that aircraft ownership is declining, with most opting out unless they fly more than 500 hours annually. “Typically, most people fly less than 250 hours per year,” he added.

Phenix Jet's Umemoto sees most of these flyers as private end users, who make up a larger share of the region's market than corporate users. He also noted that while approximately 80% of flights in Southeast Asia are regional routes with flight times under three to four hours, end users generally prefer mid- to long-range jets.

Leck and Moore attributed part of this trend to the luxury leisure sector. For VistaJet, this means focusing on cabin enhancements to ensure a continuation of members’ lifestyles while in the air.

“High-net-worth individuals are expecting more than just going from A to B. They want to go from A to B, then to C, and have amazing, unique experiences along the way. There are so many assets you can purchase, so many houses and cars you can own. But it's experiences—and unique experiences—that are really driving high-net-worth individuals in this sector today.”

With a diverse fleet of 215 aircraft, anchored by its flagship Bombardier Global 7500 ultra-long-range business jets—set to be showcased at BAAFEx—VistaJet emphasizes global connectivity. The demand for intercontinental reach and cabin versatility is also reflected by other operators, whose members prioritize aircraft capable of connecting Southeast Asia with key global economic hubs.

“In the case of Sino Jet, our clients place a high value on range and space, which is why large business jets are a popular choice among them,” Lau said. “Frequently requested models include the Gulfstream G650, G550, Bombardier Global 7500, and Dassault Falcon 8X.”

This trend is also observed on the ownership side, where Chan and Brana have seen an increase in owners purchasing larger aircraft.

“Original equipment manufacturers report that regional owners will be taking new aircraft in the next four to five years, which will cause a spillover for Singapore,” Chan said. “The boom in charter and medevac operations will also see the introduction of more operators in Singapore and the region.”

Brana added that owners are primarily large enterprises with global operations. "They need range, and they require comfort and productivity on long-haul flights—typically 10 hours or more,” he said, highlighting that Dassault’s new long-range jets, the Falcon 6X introduced at the end of 2023, and the 8X, which entered service in 2016, meet these demands.

The Falcon 10X, expected to enter service in 2027, will set a new standard for long-range comfort, productivity, and efficiency, Brana said.

Meanwhile, for island hoppers, Desgrosseilliers noted that the Philippines and Indonesia somewhat buck the regional trend due to their vast geography, with operators favoring smaller aircraft such as Textron Aviation’s Cessna and Beechcraft models.

Beyond personalized services and global connectivity, Lau emphasized the growing importance of integrating technology, prioritizing environmental sustainability, and diversifying services.

“These trends highlight not only the evolving needs of the market but also the future trajectory of the business jet service sector,” she said, noting that Sino Jet is an example of this shift. Among its initiatives, the "Digital Sino Jet" program aims to enhance operational efficiency, while "Green Sino Jet" focuses on sustainability through energy conservation and new energy aircraft development.

Challenges Remain

While operators are adapting to shifting market demands, countries have been slower to respond, often grappling with capacity constraints, workforce shortages, and infrastructure limitations.

In Singapore, the market is oversaturated with ground handlers and supervision companies, Chan explained. Aircraft parking remains a major challenge, and land scarcity restricts expansion. Tight airspace around Seletar Airport, coupled with night curfews and limited training hours, further complicates operations. She added that lengthy approval processes for charter flights reduce flexibility, making it harder for operators to meet demand. Meanwhile, the introduction of a minimum departure flight charge at Seletar has coincided with a drop in traffic, adding financial strain on operators.

"We know that operators and clients are complaining that operating in and out of Singapore is getting more expensive."

In Thailand, Chan said business aviation growth is restricted by airport and regulatory constraints, including a limited number of approved entry and exit points. However, the government's expansion of its visa-free entry scheme to 93 countries and territories is providing a slight boost to private jet activity. 

In the highly seasonal Philippines market, demand in Manila is rebounding but extended general aviation bans continue to restrict operational windows. Parking and hangar shortages remain a challenge, though ongoing renovations could improve efficiency with a dedicated terminal for international general aviation flights.

Another challenge facing the industry is the illegal charter market, Umemoto said, noting that while some governments have tightened regulations, other parts of Southeast Asia continue to see a high volume of such operations. These flights are priced well below sustainable commercial rates, making it difficult for legal charter operators to compete and establish viable businesses, he said.

On the MRO front, Umemoto, along with Lau and Desgrosseilliers, has noted that support is strengthening, with Singapore remaining the region’s leading hub due to its market size, talent pool, and facilities. Meanwhile, Indonesia, Thailand, Malaysia, and Vietnam are expanding their maintenance capabilities to meet growing demand.

In terms of FBO infrastructure, Southeast Asia shows varying levels of development, Lau added, with Singapore and Malaysia having well-established facilities, while Thailand, Vietnam, and Myanmar still have limited options.

“We hope to see continued investment and improvements in these facilities and services from governments and relevant institutions, which will further drive the growth of the industry,” she said.

Meanwhile, a shortage of skilled personnel remains an issue, Leck stated, emphasizing that "the sector is in urgent need of engineers, technicians, and pilots" to support the expanding industry. "A sustainable pipeline for this talent is necessary to meet future demands."

Organizers have positioned BAAFx as a key platform to address both opportunities and challenges in Southeast Asia. Conference topics include exploring the Asian market, with a focus on important and emerging markets in Southeast Asia, as well as sustainability initiatives, the MRO and FBO sectors, and the passenger experience with new trends in cabin interiors and inflight connectivity. The conference will cover China’s business aviation market, the role of women in business aviation, and safety and regulatory matters. Boeing and Dassault are also scheduled to share their insights.

BAAFEx is scheduled at Singapore’s Changi Exhibition Centre from March 4-6.