Southeast Asia’s private aviation market is taking off, literally. Long viewed as a niche sector dominated by China’s ultra-rich, business aviation in Asia is evolving, with fresh opportunities emerging in Southeast Asia. A rapidly rising number of high-net-worth individuals, shifting economic conditions, and increasing corporate demand are among the key factors shaping the market.

At the recent Business Aviation Asia Forum and Expo 2025 in Singapore, The Asset spoke with executives of two key players in the industry, VistaJet and Dassault Aviation, who shared their insights on the current and future trends in private jet travel in Asia.

While VistaJet focuses on providing flexible, subscription-based access to a global fleet, Dassault Aviation is expanding its footprint in the region through sales of its ultra-long-range Falcon business jets. Together, their perspectives paint a picture of an industry in transition, from the cooling of China’s once-dominant market to the new and growing demand coming out of Southeast Asia.

For over a decade, China was the undisputed growth engine for business aviation in Asia. But as economic conditions shift, operators are now looking elsewhere for business development.

Carlos Brana, executive vice president of civil aircraft at Dassault Aviation, doesn’t see China as a declining market, but one in transition. “China has all the ingredients for a strong business aviation sector, large distances, global business networks, and a demand for efficiency,” he explains. “Growth slowed after 2014, but the demand will return. It’s a matter of timing.”

In the meantime, Chinese buyers of business jets are relocating. Many high-net-worth individuals and business owners have moved operations to Singapore, Dubai, or Southeast Asia, and they are bringing their aircraft needs with them. “We follow our clients,” says Brana. “If they are doing business in Vietnam or Indonesia, that’s where we need to be.”

VistaJet’s chief commercial officer Ian Moore is also seeing strong growth in Southeast Asia. “We’ve had double-digit growth in the region,” he says. “Our membership base grew 10% in 2023, and we expect to report another strong year in 2024.”

This surge is driven by wealth expansion and a rising business class. Asean’s 650 million-plus people, many under 35, are highly aspirational, and many of its fast-growing companies are recognizing that in business, private aviation can be a necessity rather than a luxury.

“Vietnam is a great example,” Brana points out. “Ten years ago, there was virtually no business aviation. Now, we are seeing aircraft purchases in Vietnam, Laos, and Cambodia.”

In Southeast Asia’s largest economy Indonesia, a country spanning thousands of islands, commercial flights simply aren’t practical for top executives, making private jets a time-saving necessity.

Next Gen: Jet ownership or flexible access

A decade ago, buying a private jet was the ultimate status symbol. Today, Asia’s younger high-net-worth individuals are turning to alternatives like VistaJet, which offers a subscription-based model. These can be tailored to clients' flying needs, with costs influenced by factors such as flight hours, aircraft type, and membership level. 

Their Program Membership, for example, is designed for frequent flyers committing to 50 or more hours annually. Membership provides guaranteed aircraft availability at a fixed hourly rate. While specific pricing details are not publicly disclosed, hourly rates can range from approximately US$12,000 to US$20,000, depending on the aircraft and membership specifics. ​

The operator also offers a corporate membership customized for businesses. This membership supports corporate travel needs with benefits designed to enhance efficiency, and several banks have signed up for the service. 

“Twenty years ago, if you wanted to fly privately, you had to own a jet,” says Moore. “Now, people ask, why own a depreciating asset?”

Unlike traditional fractional ownership models, where clients buy a share in a single aircraft, VistaJet owns its entire fleet and offers access through a tailored hourly subscription. “You could call it leasing, but it’s not really,” Moore explains. “Our clients buy hours, and we factor in all costs, capital, depreciation, and operations, into one package.”

For younger entrepreneurs and next-gen inheritors of wealth, the Uber-style convenience of private jet access makes more sense than full ownership. “They want to book quickly, fly when they need to, and not worry about maintenance or parking,” Moore says.

Dassault is also witnessing a shift in ownership options. “In China, pre-owned aircraft used to be unthinkable,” Brana says. “Now, we are seeing an openness to pre-owned jets and even fractional ownership. It’s a sign of market maturity.”

When pushed to give a price for a new jet, Brana is cautious. The purchase price of a new Dassault Falcon 8X business jet varies based on factors such as age, condition, and client customization, he says. According to industry sources, in 2022, a new Falcon 8X was priced at approximately US$62.5 million.

The elephant in the hangar: sustainability

Private aviation is frequently criticized for its environmental impact. Industry representatives point out that business jets account for just 2% of total aviation emissions, but the negative public perception of the issue is rigid.

Younger and more environmentally attuned wealthy business jet users in Asia are also pushing the industry to go greener quicker. And the industry is trying. In 2023, Gulfstream, a US manufacturer of business jets, completed the first trans-Atlantic flight on 100% sustainable aviation fuel ( SAF ), showcasing its potential to reduce aviation emissions and drive industry-wide sustainability.

Dassault, being a European-based company and subject to stringent regulations, is investing heavily in SAF. “Depending on the blend, SAF can reduce emissions by 80-90%,” says Brana. “The challenge, though, is availability and cost.”

VistaJet is also taking action, with 85-90% of its clients preferring a carbon offsetting regime. “If we could power our fleet entirely on SAF, we’d see an 80-90% reduction in emissions,” Moore says. “That’s the goal.”

However, as Moore points out, true technological change is still years away. “There won’t be a hydrogen or electric-powered business jet capable of flying 17 hours anytime soon,” he acknowledges. “SAF is the best option we have right now.”

Beyond fuel, both companies are making manufacturing and operational changes to reduce environmental impact. Dassault is introducing lighter materials, fuel-efficient aerodynamics, and optimized flight paths to minimize fuel burn. “Even our manufacturing process is going greener,” says Brana. “We are cutting energy use and switching to electric power sources in our facilities.”

Challenges in the market

While demand for business jets in Asia is rising, supply chain and infrastructure limitations remain key challenges.

“The biggest issue in Southeast Asia is permit times and ease of movement,” says Moore. “In the US or Europe, you can move quickly. Here, it can take days to get clearance, which sometimes pushes clients towards commercial flights.”

Infrastructure is another concern. While Singapore, Hong Kong, and Kuala Lumpur have well-developed facilities, many airports in Indonesia, Vietnam, and the Philippines lack dedicated business jet terminals and maintenance hubs. “If governments think long-term and invest in aviation infrastructure, this market will explode,” Brana notes.

An additional challenge in Asia is speed of aircraft delivery. “Customers can be impatient,” Brana admits. “They want aircraft immediately, waiting months or years is not ideal.”

Dassault says it keeps a limited stock of aircraft for quick delivery but primarily builds to order. “Some clients prefer to take a pre-configured jet to get it sooner,” Brana explains. “Others insist on full customization, which takes time.”

Despite these challenges, the outlook for business aviation in Asia as a whole is strong. Dassault and VistaJet are both positioning themselves for a period of continued growth in the region.

“The fundamental need for private aviation has never been greater,” says Moore. “Businesses are expanding globally, and people need to get places faster and more efficiently.”

Whether through flexible access models or next-generation aircraft, private aviation is no longer just a symbol of wealth in the region; it is also a strategic business tool.

Photo: A Dassault Falcon 8X business jet.