Amid commercial flight disruptions caused by the Mideast war, business jet usage is booming in Thailand and Southeast Asia, with plane manufacturers marketing their latest models of long‑range aircraft to wealthy individuals seeking to expand their businesses internationally.
The global business jet market is growing year‑on‑year, according to Astute Analytica, a market research consultancy, with a value of US$20.8 billion in 2024 and estimated to reach $29.8 billion in 2033, according to the Bangkok Post.
"Many business operators now see the need for private jets because they help save time and increase their productivity significantly," said Natthapatr Sibunruang, chief executive of MJets, a private jet operator and management company based in Thailand.
"Private jets allow them to stay connected and move their business forward, especially when dealing with overseas investors and operators."
THE GILDED CLASS
In Thailand, politicians and entrepreneurs are increasingly owning private jets. According to Astute Analytica, there are an estimated 45 business planes based in Thailand.
The country's continued expansion of commercial aviation capacity and airport infrastructure also contributes to a more supportive environment for private aviation services.
In the medium term, Thailand's business jet market is expected to be reinforced by sustained luxury tourism inflows, ongoing foreign investment and gradual digitalisation of private aviation booking and membership platforms, noted the consultancy.
Asia-Pacific is forecast to record 5% annual growth for business aviation in the medium term, reflecting steady demand recovery and increasing adoption of flexible models, such as charter services and fractional ownership.
Astute Analytica suggested Asia-Pacific's business jet market remains underpenetrated, compared with other mature regions, with only 7% of the global installed base of business jets, highlighting long-term opportunities for the region.
William Heinecke, the founder of MJets and chairman of Minor International, regularly uses business jets as a tool to expand hospitality businesses globally, said Mr Natthapatr.
In 2025, Minor operated 636 properties and 2,746 restaurants worldwide. Some properties are located in exotic locations not served by commercial flights, but private jets offer the flexibility to visit these venues.
Politician Suriya Jungrungruangkit owns a fraction of an 800-million-baht Gulfstream G550 jet valued at 30 million baht, together with other family members and relatives, while former premier Thaksin Shinawatra owns a Bombardier Global 7500.
Siam Land Flying was founded as part of conglomerate CP Group to support the group's executives.
For MJets, it recently became the exclusive authorised dealer of Gulfstream planes in Thailand.
Gulfstream wants to emphasise its presence in the region because it has high economic growth compared with other established markets, said Mr Natthapatr.
Many businesses are keen to expand internationally, leading to high potential for first-time buyers of business jets, he said.
MJets clients tend to charter flights from the company first before deciding to buy their own jets, said Mr Natthapatr.
The company also sells secondhand jets to clients while they wait for orders, which can take up to three years. Once delivered, the old jets are resold to the market.
In the future, MJets plans to offer a management service for owners similar to the property market that helps manage and offer rentals for their assets.
The company targets wealthy individuals with income of more than 10 billion baht per year.
Some of MJets' charter clients do not have that level of wealth yet, but use the service to maximise their company revenue until they eventually own private jets, he noted.
The utilisation rate of private jets in Thailand and the region is still low, with only 200-300 hours per year, offering room for growth, said Mr Natthapatr. A mature market such as the US has 1,000 flight hours a year, he said.
In Thailand, most private jet users are wealthy individuals who own listed companies. The service is often used to conduct business, but is not as widespread as corporate usage.
In other countries business jets are used more regularly, assigned to company executives for meetings and site visits, as well as transfers of football players to other nations.
Astute Analytica attributed the surging demand for business jets to increasingly wealthy individuals.
According to Knight Frank, the number of individuals who owned assets exceeding $30 million increased by 4.2% year-on-year in 2024, and 58% of them travelled privately at least once a year.
Private users accounted for roughly 45% of the total business jet market, while aircraft management operators held 55%, noted the report.
Private individuals typically acquire one plane every 10-15 years, with an average of 280 annual flight hours.
BIG FAMILY, LARGER JETS
Mr Natthapatr said MJets reports high demand for large cabins, such as the Gulfstream G700, which offers a four-module configuration, longer than the previous G500 and G600 with three modules, offering more options to add amenities such as showers and beds.
Companies from Southeast Asia tend to invest abroad in established markets, such as the US and Europe, which require long-range planes with high speed for non-stop flights to save on travel time, he said.
Didier Raynard, senior vice-president of sales for Asia-Pacific at Dassault Aviation, said its new Falcon 10X will become a game changer in the business jet market with the world's largest business cabin, tapping the long-range market with a range of 7,500 nautical miles.
The 10X cabin is 80 inches tall and 109 inches wide, and customers can configure it into three or four zone interiors.
Mr Raynard said the company is recording demand from younger buyers, especially those taking over the family business in Southeast Asia. They view business jets as essential tools, he noted.
Another trend is flights from Asia have been carrying more passengers than the European market or the US. This is linked to Asian family business operations, with flights including nannies, bodyguards and assistants, said Mr Raynard, making Dassault's new aircraft type more suitable for these travel requirements.
Asia-Pacific reported a net addition of 93 aircraft, outpacing other regions, although its total fleet of roughly 1,450 business jets in operation is considered small, noted Astute Analytica.
In 2024, 71% of global travel by international corporations exceeded 1,500 nautical miles per trip.
Business jets can travel at speeds of up to Mach 0.8, useful for executives visiting different cities in a single day.
Jets account for 90% of the business aviation market, with the remainder turboprops, as executives often travel farther than the recommended limit of 600 nautical miles for turboprops.
The General Aviation Manufacturers Association's 2025 Aircraft Shipment and Billing report indicates 854 business jets were shipped by manufacturers last year, up 11.8% year-on-year, the largest increase in the general aviation segment, which includes piston airplanes, turboprops, piston helicopters and turbine helicopters.
