Issued by Asian Sky Group.
October 22, 2019
Hong Kong business aviation consulting firm Asian Sky Group (ASG) has released its 2019 Q3 edition of Asian Sky Quarterly, complete with an updated forecast on the business jet and civil helicopter markets throughout the Asia-Pacific region. This issue of the quarterly report is being released in conjunction with the NBAA exhibition in Las Vegas, Nevada (October 22 – 24).
“In 2019, worries about the US/China trade dispute persist, with growth in China subsequently the weakest in 27 years,” says ASG managing director, Jeffrey Lowe. “Exports from China fell in Q3 of this year to their lowest level for 2019, which then had a knock-on effect of severely impacting manufacturing in Japan, South Korea and Taiwan. As they say, when China sneezes, the rest of the Asia-Pacific region catches a cold. And just to pile on the misery, the Yuan has lost over 7% of its value since April.”
Lowe continued: “In the Asia-Pacific region specifically, business confidence is down and pessimism is on the rise, up 5% since the same time last year. This has consequently translated into a higher percentage of business jet sellers and a significantly higher percentage of the “I'm not sure” when it comes to purchase intentions, increasing a whopping 10% so far through 2019.”
A full understanding of what's going on in the market can be found in this edition's Mood & Intentions section of Asian Sky Quarterly. As to the rest of Asian Sky Quarterly: this issue includes more data than previous issues, now incorporating information on smaller and medium-sized jets, which is reflected in the Market Dynamics and Market Summary sections. As such, the pre-owned market analysis this quarter is on the King Air 350 series. And, the Economics section now includes a Purchasing Managers' Index to better understand consumer confidence.
Complementing the data are articles and commentary by industry leaders. AsBAA chairman, Zhendong Wu provides his take on business aviation in Asia; Holman Fenwick Willan partner, Gordon Gardiner shares information on illegal charter, particularly in Asia; Pratt & Whitney Canada vice president, marketing, Frederic Lefebvre speaks on the PW800 engine and the ever-popular PT6A. senior vice president of worldwide Falcon customer service and service centre network, Jean Kayanakis talks about the increased need for maintenance facilities, the company's recent acquisitions and its commitment to customer support. Universal Weather & Aviation also shares operating tips for those heading to the 2020 Tokyo Olympics. Also included is a recap of the Corporate Jet Investor Asia conference, held in Singapore, noting the key takeaways of the event.