Ionic Insights: The Business Jet Fleet in Scandinavia
Welcome to the latest edition of Ionic Insights, where we take a look at the installed business jet fleet in Scandinavia.
Background
The population of Scandinavia, in this case Denmark, Norway and Sweden, totals approximately 22 million citizens. The three nations' combined economies are worth in the region of $1.75 trillion. Whilst Denmark and Sweden are both members of the European Union, Norway is not.
Market overview
Scandinavia has a modest installed business jet fleet totalling 108* aircraft.
The market is characterised by its high proportion of corporate and individual-owned, as opposed to fractionally-owned aircraft, with demand largely driven by shipping, offshore energy, mining, Big Pharma, family offices and technology.
Geography, particularly the long domestic sectors in Norway and northern Sweden, has made business aviation a practical rather than a strictly luxury-driven choice. Jets in the light and midsize/super-midsize segments are therefore particularly popular, with such aircraft making up over 60% of the fleet.
Large cabin and ultra-long-range aircraft, which account for almost all of the remaining 40%, are primarily used to connect Scandinavia with cities across Europe, Asia and North America. The Dassault Falcon 7X, Falcon 8X and Bombardier Global 6500 are particularly popular (see the Slide 1 below).
Given the topography of the region and the emphasis on efficient regional connectivity, it is also worth noting the popularity of small turboprop aircraft such as the Beechcraft King Air and Pilatus PC-12.
Whilst the fleets in Denmark and Sweden averages sixteen years, Norway's comparatively small fleet boasts a very young average age of only seven years.
The largest regional independent management companies include Air Alsie (which operates a fleet of Falcon jets), JoinJet and Blackbird Air, all three of whom are based in Denmark. The six-strong PC-24 fleet in Sweden is owned and operated exclusively by specialist air ambulance operator, Svenkst Ambulansflyg.
Slide 1: The Business Jet Fleet in Scandinavia.
