Luxury business jet manufacturers Gulfstream, today said the demand for business jets in the Asia-Pacific (APAC) region is witnessing a huge growth. The company also believes that the economic growth of BRIC (Brazil, Russia, India and China) countries in the global business arena will act as a catalyst for its revenue growth.
“We are seeing a huge demand for business jets in APAC region and our share in this region has also grown,” said Roger Sperry, senior vice-president, international sales, Gulfstream.
According to the US-based company, the share of APAC region to its sales at the end of the year 2009 was around 12 per cent while it was around 7 per cent in 2007.
The number of Gulfstream aircraft in India region also grew significantly from five in 2001 to 20 in 2010. The company has sold around 139 aircraft in the APAC region till the end of 2010.
“During the financial crisis there was a drop in our sales and revenue. We are witnessing a recovery and the demand has gone up especially in the large-cabin aircraft segment,” Sperry said.
Gulfstream has seen a surge in orders in the previous year and has bagged 200 orders for the new $64.5 million worth G650 aeroplane. Gulfstream also expects to produce 90 large-cabin jets and 15-20 mid-cabin jets in the current year.
To address the growing demand of the India market Gulfstream announced, Delhi-based Arrow Aircraft as its independent sales representative in the country. As per the new deal signed this week, Arrow Aircraft will be the only sales partner for Gulfstream in India.
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Air Works, who were the company’s earlier sales partner in India will now handle the maintenance works of Gulfstream aircraft in India.
“India is a booming market for Gulfstream and with our expertise in sales and marketing we are confident that we can sell more aircraft in India,” said Rohit Kapur managing director Arrow Aircraft. When asked on the sales strategy and the target, he declined to comment saying it is too early to disclose.
Gulfstream is displaying its range of G 450 and G 550 jets at the Aero India show and is exploring more business opportunities in the emerging markets including India. The company which employs 33,000 people across the globe is also planning to launch the commercial operations of its latest variants G 650 and the G 250 by the end of 2012.