Turbulence-proof: Asia’s business jet MRO market defies global headwinds

ExecuJet MRO Services Malaysia Sdn Bhd (ExecuJet Malaysia) — part of a global network of 13 ExecuJet facilities under the French aerospace group Dassault Aviation — services business and private jets made by manufacturers such as Dassault, Bombardier and Gulfstream. In recent years, the sector has benefited from a steady rise in private aviation, as affluent individuals and corporations invest in smaller aircraft for flexibility and privacy.

“From our perspective, things have improved significantly since the Covid-19 pandemic,” Lim tells The Edge in an interview. “The current situation doesn’t really make things better or worse. It’s about the same.”

The resilience of the business aviation maintenance sector lies in its underlying economics. Aircraft must undergo regular inspections and heavy maintenance at fixed intervals to remain airworthy. While higher fuel prices may discourage some activities, they do not eliminate the need for scheduled servicing.

Lim says the more persistent challenge remains the after-effects of the pandemic, particularly disruptions to global supply chains. Shortages of engines and spare parts continue to constrain the MRO industry, slowing turnaround times.

ExecuJet’s global footprint has helped to cushion those pressures. Components can be sourced internally from other facilities when shortages arise in one region, an advantage not available to smaller MRO operators.

Higher fuel prices are not a major operating cost for ExecuJet Malaysia, says Lim. In a limited way, the Middle East conflict has even worked to the company’s benefit.

A small number of aircraft scheduled for maintenance in that region have been redirected to Malaysia due to airspace disruptions.

Still, Lim emphasises that the impact has been marginal. “We saw one or two aircraft come to us because they couldn’t go to the Middle East, but not in large numbers.

“Business aviation MRO is one sector not affected by oil prices. For commercial aircraft, however, it is different, as it is driven by airlines’ ability to operate. When they cut capacity, they may decommission aircraft or place them into preservation,” he says, noting that he does not expect conditions to deteriorate to Covid-era levels.

Lim acknowledges that some business aircraft owners or operators may fly less amid higher fuel prices, but he does not foresee a major impact on maintenance demand. “You might see less line maintenance (day-to-day maintenance tasks) if aircraft are flying less, but base or heavy maintenance will still be required. If it becomes overdue, the aircraft is no longer airworthy,” he explains.

Unlike commercial aviation MRO services, which are closely tied to passenger demand and airline capacity, the business aviation MRO segment operates on a different footing.

“We mainly deal with business and private jets, which remain robust. We’ve been seeing growth over the last few years, and we remain very positive. We’ve never slowed down hiring because we are confident the market is there,” says Lim.

That confidence is underpinned by a growing number of aircraft entering the Southeast Asian market. Recent deliveries of long-range jets such as Dassault’s Falcon 7X and Falcon 8X, alongside other models serviced by ExecuJet, point to sustained demand among corporate and private owners.

Yet, fleet expansion tells only part of the story. The age profile of aircraft is increasingly shaping maintenance demand. Older jets require more intensive checks and refurbishment, while a buoyant market for pre-owned or second-hand aircraft is bringing additional, often ageing, jets into the region.

“The pre-owned market remains very strong, and we are seeing those aircraft coming into the region.

“The rule of thumb is: once an aircraft enters the market, it needs maintenance. In that sense, the MRO industry is relatively insulated,” he says.

Industry data supports the steady outlook. According to Hong Kong-based consulting firm Asian Sky Group’s Business Jet Fleet Report 2025, Asia-Pacific was home to 1,168 business jets at the end of 2025, a 1.5% increase from a year earlier. This represented the strongest regional growth rate since the pandemic, although the pace remained moderate.

At the same time, the Asia-Pacific fleet is ageing, with 45.6% of aircraft aged 15 years or older. This indicates that the regional market is gradually transitioning from an expansion-driven phase toward one increasingly influenced by replacement cycles, modernisation and aircraft relocating.

For maintenance providers like ExecuJet Malaysia, this evolution may prove just as important as fleet growth itself, ensuring a steady pipeline of work even as external uncertainties persist.

A shortage of skilled labour continues to weigh on the MRO sector, a challenge that has lingered since the pandemic. At ExecuJet Malaysia, however, efforts are underway to build a more stable pipeline of talent.

The company, which employs 105 people, has continued to hire even as the wider industry struggles to attract and retain qualified technicians and engineers, Lim says.

He describes its more proactive approach to staffing in recent years, including the launch of an in-house apprenticeship programme. Six apprentices have already been absorbed into the workforce this year, following training conducted in partnership with a local training organisation. “Generally, the aviation industry in Malaysia has been facing shortages of technicians and engineers for the past few years. The apprenticeship programme has been quite successful in helping us address that.”

Recruitment efforts are continuing alongside the programme, while ExecuJet’s global network offers a short-term buffer. Engineers can be redeployed from other regions during periods of peak demand, particularly when large maintenance inspections create temporary labour gaps.

“It’s one of the advantages of being part of a larger network. It has proven effective in helping us manage acute shortages while we build longer-term solutions,” Lim adds.

Supply chain disruptions, meanwhile, remain an unresolved concern. He says it is difficult to predict when conditions will normalise, given the complexity of global manufacturing networks. “A spare part is never produced from just one source. There are many layers involved, which makes it quite complex. We hope things will stabilise soon because at the end of the day, our business is fixing aircraft. We need parts.”

Lim says ExecuJet Malaysia’s facility is running at about 80% capacity, a level he sees as adequate to meet demand for the foreseeable future.

The 149,500 sq ft hangar at Subang Airport, opened in May 2024, is not expected to undergo expansion anytime soon. Instead, the focus is on strengthening technical capabilities as the business grows.

Among its priorities is preparing for the Falcon 10X, Dassault’s entry into the very large cabin segment, which is still under development and is expected to add to future maintenance requirements.

ExecuJet Malaysia has built a broad regulatory footprint, with certifications from 16 national aviation authorities, including the US Federal Aviation Administration, the European Aviation Safety Agency and the Civil Aviation Authority of Malaysia, as well as regulators across Asia. Further approvals are being considered based on customer demand.

“There are many countries that we still haven’t covered yet. For example, countries in Central Asia such as Kazakhstan. The next one we are looking at is Papua New Guinea.

“It’s a huge undertaking. The process can be lengthy, often taking between one and three years and requiring extensive audits. But if there is demand from operators in a country where we don’t yet have approval, that’s when we will pursue it,” says Lim.

ExecuJet Malaysia is targeting annual revenue growth of 10% to 15%, supported by a regional client base spanning Northeast Asia and Southeast Asia.

Its filings with the Companies Commission of Malaysia show revenue rose 12.3% to RM89.97 million in the financial year ended Dec 31, 2024 (FY2024) from RM80.12 million a year earlier, while net profit fell 15.7% to RM8.39 million after a record RM9.95 million in FY2023. Its financial performance for FY2025 has yet to be filed.

Lim expects stronger results in FY2026, with bookings already filling maintenance slots through the third quarter.

Dassault’s Falcon jets account for 60% to 65% of ExecuJet Malaysia’s workload, with Bombardier and Gulfstream aircraft making up the rest. Lim says services are provided without preference for any manufacturer.

ExecuJet Malaysia remains the country’s only dedicated provider of business aviation maintenance, reflecting high barriers to entry in the sector.

Establishing a similar operation requires significant investment in specialised tooling, ongoing training and strict regulatory approvals, Lim says. Competitors are largely based in regional hubs such as Singapore, Hong Kong and the Philippines.

“It’s a very regulated industry. You need to be audited and approved by multiple authorities to provide these services.”

For customers, cost and service quality remain key factors in deciding where to send their aircraft for maintenance. The growth of in-region maintenance capabilities has reduced the need for aircraft owners to send jets to Europe or the US, a process that previously involved substantial ferry costs, fuel consumption and crew deployment.

“With an in-region solution, the cost savings are significant,” Lim says.

Meanwhile, the resumption of narrow-body aircraft operations at Subang Airport since August 2024 has not affected business aviation activity, he says, with no noticeable constraints on slots. For more than two decades, the airport was designated to handle propeller-driven aircraft such as those with turboprops, business jets, helicopters and light and military planes.

“The airport remains very friendly towards business and general aviation,” he adds.