New analysis* by Beechcraft Corporation of the latest available market data reveals that the number of business aircraft in Asia Pacific grew from 947 in 2002 to 1,566 in 2012 - an increase of 65 percent.

Singapore saw the largest increase (131 percent), with its fleet growing from 16 aircraft in 2002 to 37 in 2012. This was followed by Hong Kong (104 percent) and China (103 percent).

"The Asia Pacific region continues to be a large growth market for business aviation, fuelled by some of the most exciting economies in the world," said Ted Farid, Beechcraft's vice president of sales for the Asia Pacific region. "Business leaders and entrepreneurs here understand the importance of seeing their clients and operations on a regular basis, and having the flexibility of their own business aircraft helps make that possible."

In terms of how the Asia Pacific business aviation market breaks down, around 58 percent of the region's business fleet are jets and 42 percent are turboprops. Data shows turboprop popularity is growing: the number delivered to Asia Pacific during 2008-2012 was 27 percent higher than during the period 2003-2007.

"Turboprops cost substantially less than a jet of the equivalent size and are more economical to operate - factors that have helped lead to an increase in demand for King Airs," Farid said. "In this region of the world, great flexibility in remote areas is crucial and the King Air delivers, especially for special missions operations that require an aircraft capable of operating from short, unimproved runways."

Beechcraft's King Air line of twin-engine turboprops began production in 1964 and is the best-selling business aircraft family in the world. This market leadership is underlined by the fact that between 2002-2011 around 69 percent of all business turboprops delivered to Asia Pacific were King Airs. Of the current business turboprop fleet across the region, King Airs hold a dominant 64 percent market share.

* Beechcraft Corporation analysis of JetNet data, April 2013

Contributed by Beechcraft Corporation