Research from Global Jet Capital reveals that around 452 mid to heavy private jets were delivered to Europe between 2012 and 2016, with a combined value estimated at around $22.6 billion.

According to Global Jet Capital, these aircraft typically cost between $25 million and $75 million each, and up to 80% of the funding used to purchase these is sourced through external financing.

The largest number of deliveries was to Germany, which purchased 64 business jets at an estimated cost of $3.2 billion. This accounted for 14% of all deliveries to the region over the past five years.

This was followed by the UK (54 deliveries), Switzerland and Austria (32 deliveries each) and Russia (30 deliveries).

Global Jet Capital is seeing growing interest for business aviation finance in Europe.

Matthias Müller, European sales director, said: “Between 2015 and 2025, the European business jet fleet is expected to nearly double in size. It is expected to see fleet compound annual growth of around 7% and it will remain the second largest market for business aircraft in the world.

“Europe is a very important market for us and one where we expect to see our business grow substantially over the next few years.”

Graeme Shanks, Northern Europe sales director, added: “It’s important to acknowledge there are significant differences between the business aviation markets of European countries. Some are more developed than others, and this has implications for the type of financing that will considered by clients in each market.”