Middle East companies and individuals are expected to buy 400 business aviation aircraft over the next 10 years, according to a new report.

The white paper titled "Private Aviation in the Middle East: Owner Profile, Trends and Business Opportunity" estimates private aviation business to be worth about $10 billion over the next decade in the region.

The report by Wealth-X and Wingx Advance was released today ahead of the Dubai Airshow, to be held at DWC, Dubai, from November 8 to 12.

Wingx estimates fleet and activity growth of around 7 per cent CAGR over the next 10 years. The net increase in the business fleet will be at least 250 units in the region, it said.

There were 10,113 private flights between the Middle East and Europe from January to September 2015, a 4.8 per cent increase over the same period last year.

The Challenger 600 is the busiest jet operating out of the Middle East year-to-date, the report said.

It said Turkey is the top European destination for private jets from the Middle East this year. A similar number of flights have headed to the United Kingdom and France.

The typical private jet owner in the Middle East is male, nearly five years younger than the global average and has planes that are worth three times more than his peers’ jets, according to a report.

The average age of Middle East jet owners is 59.1 years, while that of the global average is 63.6 years, the report said. The average net worth of Middle East owners is $1.09 billion while it was $1.66 billion for the global owners.

The average value of aircraft for the Middle East owners is $48.8 million, while the global average is $16.4 million, the report added.