India added the highest number of business jets in the Asia Pacific region in 2024 and plane makers remain bullish about the market with the rise in high net worth individuals (HNIs), global expansion of India Inc and business-friendly reforms like aircraft leasing through Gift City in Gujarat.

According to a report by consultancy firm Asian Sky Group, the number of business jets in India grew 12 per cent from 150 to 168 in CY 2024 on a year-on-year (y-o-y) basis. India registered the third fastest growth in the region, behind Singapore and Vietnam.

India has the third-largest business jets fleet in the region after China and Australia, and in absolute terms the aircraft addition in India in 2024 was the highest in the region, it said.

“India is growing into a major market for Gulfstream and we are seeing a great interest in our products across the region. We are also seeing an increase in charter traffic which can ultimately lead to new buyers after they experience first-hand the benefits of business aviation. As airport access and infrastructure continue to grow in India we anticipate continued demand and growth for Gulfstream aircraft as well,” said Michael Swift, group vice president of sales, Gulfstream.

Long-range aircraft

Bombardier has close to 50 active business aircraft in India and sees sustained demand from the market. “We have strong prospects for the business jet market going forward and we are well positioned in the region with our family Global and Challenger aircraft,” said a Bombardier spokesperson.

Brazilian plane maker Embraer, too, sees strong mid- to long-term opportunities for its business jets and the recent opening of its subsidiary will bring it closer to the customers, Francisco Gomes Neto, president & CEO of Embraer said in a recent interaction.

While, until recently, the business aviation fleet in India was dominated by mid-size jets that covered routes like India-Dubai or India-Singapore, Indian corporates are buying new longer-range jets with larger cabins that were launched post 2017.

An Indian corporate house is expected to receive a Gulfstream G700 aircraft later this year. While G700 aircraft, which has a range of 7750 nautical miles, was launched in 2024, Bombardier’s Global 8000 aircraft (that is billed as fastest civil aircraft after the Concorde) is poised to enter service by end of 2025.

Shortcomings

While longer range jets are making travel more convenient, reforms like domestic leasing of planes has made acquisition easier.

“One of the most impactful developments in recent years has been the creation of the International Financial Services Centre at Gift City. This framework is empowering Indian buyers to lease or finance aircraft within the country under globally competitive structures reducing reliance on offshore jurisdictions,” said Atiesh Mishra, director, AJM Jet Management.

“The business aviation market in India has shown resilience and recovery since Covid-19 pandemic and the momentum is expected to continue in 2025, too,” Mishra added.

Yet challenges persist. “India is predominantly a market for pre-owned aircraft because acquisition cost is lower and lead times are less compared to brand new aircraft. Due to supply chain issues, wait times for brand new planes can be up to two years. However, many corporates are ordering new and large aircraft that fly longer, have latest technologies and can be customised as per requirement,” said Sudhir Rajeshirke, president (aerospace), Jubilant Enpro, authorised representative for Bell Flight and Textron Aviation.

Business jet operators are also calling for more reforms that will make the owner-operator model more seamless. The Business Aircraft Operators Association (BAOA) has sought a collaborative approach in rule making and demanded a robust fractional ownership model. “A clear policy framework recognising fractional ownership and aircraft management models will unlock latent demand and drive fleet expansion,” BAOA managing director Rajesh K Bali said.

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Published on June 29, 2025