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According to the recent report, Straits Research Market Report: Business Jet Market Size, Share, Growth & Forecast by 2033, the global business jet market size was valued at USD 17.01 billion in 2024 and is projected to reach from USD 17.44 billion in 2025 to USD 21.25 billion by 2033, growing at a CAGR of 2.50 during the forecast period (2025-2033).

The report notes that North America is the most significant shareholder in the global business jet market and is expected to grow at a CAGR of 1.85% during the forecast period. The United States owns 61.6% of the whole business jet fleet now in use worldwide. Europe is expected to grow at a CAGR of 3.16%, generating USD 3.03 billion during the forecast period.

Asia Pacific is expected to grow significantly during the forecast period. China has put more emphasis on general aviation during the past few years. The Chinese government has implemented changes to boost the effectiveness and allocation of airspace over the last few years. China established up to 50 new general aviation airports in 2020, demonstrating the importance the government places on building the infrastructure for private aviation. The demand for corporate aircraft has been fueled by Chinese businesses' expansion into international markets. However, because of the high expense of ownership, many businesses now favor affordable charter planes. Brazil is anticipated to grow steadily during the forecast period. Currently, there are 787 business aircraft in service in Brazil, and 70% of travel there is for business rather than 30% for vacation. There are still more than 60 charter operators in Brazil, even though there were over 300 active operators at the beginning of 2000. Belo Horizonte to Sao Paulo and Sao Paulo to Rio de Janeiro, both less than 350 miles apart, are two of the most still liked charter routes. The economy and aviation infrastructure have limited the development of business aviation in the nation. However, the country has a very high potential for growth. The GCC's most operational business aircraft are located in Saudi Arabia. The increase of high-net-worth individuals and ultra-high-net-worth individuals in Saudi Arabia is mostly to blame. As a result, the number of business flights in the nation is continuously rising. Additionally, it is predicted that the rise in HNWI and UHNWWI in Saudi Arabia will promote the acquisition of private aircraft during the forecast period.

And in this evolving international private jet industry, Malta also has its fair share to play in the coming years. The pandemic years saw an increase in private jet purchases, as well as an increase in charter bookings. Malta saw an increase in private jet registrations of 200%. The challenges for the island in the industry are still there. Malta is not often considered for luxury internationally, but the government, together with the industry, are making leaps and bounds in improving the offering to the customer. Entertainment and hospitality venues now offer superior quality, with over 40 restaurants currently featured in the Michelin Guide, 6 of which have earned one star. Hotels are also improving their offering with an array of extra guest services to ensure guests truly have a five-star plus stay. Moreover, Malta is a great island to explore summer and winter as the climate is temperate most of the year.

From an Executive Aviation Malta point of view, Malta's potential in the industry can be envisaged from what we achieved this year. This year, we improved the overall internal structure, focusing mainly on operational safety procedures and improving services for our customers in general. We have beefed up our operations and administration team to cater for more business and have also introduced additional vehicles to our fleet. The year also offered several challenges in finding the right manpower with the right frame of mind and passion for the job. We also faced several operational issues due to limitations in local facilities. The fact that we have managed to handle a record number of movements this year without losing a single client is a testament to that. Executive Aviation Malta is well-performing in such a cutthroat industry.

 2024 also marks an important milestone in the company's history. Indeed, Executive Aviation Malta has signed a strategic cooperation agreement with ExecuJet Aviation Group, making us part of a global FBO brand with more than 25 prime locations worldwide. This cooperation agreement came following lengthy negotiations, audits, and approvals and by far makes us the biggest and most known FBO chain in Malta, guaranteeing added peace of mind and security to all our customers. It also comes months before the official opening of Dubai's Al Maktoum International Airport FBO / Private Terminal, an innovative establishment, a ground-breaking venture in the region, encompassing a generous 15,000 square meters spread over 3 levels. Within this exceptional facility, visitors will encounter a diverse range of services, encompassing luxurious lounges, a Signature Majlist lounge, as well as a VIP lounge adjoined by a cutting edge board-room space. Furthermore, the facility will introduce unprecedented features incorporating royal and exclusive private suites coupled with an invigorating spa offering a wide range of treatments as well as a sophisticated cocktail and cigar lounge, among other services yet to be revealed. The year to come, 2025, looks promising both for Executive Aviation Malta and Execujet Malta, as well as for the industry at large. We remain committed to further strengthening our core business and ensuring healthy growth. We also strive to make 2025 another successful year for our company and for Malta in such a fast-growing industry.