Empresa Brasileira de Aeronautica, the Brazilian aircraft manufacturer, is taking advantage of the increasing demand for executive jets among Asia's high net worth individuals, The Bangkok Post reports.

Embraer – as the firm is also known - expects a 9 per cent annual rise in Asian demand for executive planes over the next ten years.

Demand for executive jets is a rough barometer of how groups such as high net worth individuals are faring. Asia is touted to be the saving grace for many of the world's businesses looking to get away from primarily West-led financial losses.

The company is marketing its midsize Legacy 600 jet to 12 countries the region, including Australia, Singapore, Hong Kong, New Zealand, South Korea, India, Malaysia, Taiwan, Japan, Indonesia, and the Philippines. According to the news service, the Brazilian jet maker has forecast that the global corporate jet market will be worth around $180 billion in the next decade, equivalent to around 11,000 planes. Prior to the global recession, the company had forecast growth to 14,000 planes ($230 billion).

At present, the publication adds, 6 per cent of Embraer's orders come from Asian clients, who generally view private jets more as effective business tools than as status symbols. Embraer vice president for marketing and sales in Asia-Pacific Jose Eduardo Costas was quoted to have said, "High net worth individuals are using them (business jets) because they are quicker and far more efficient."

Embraer expects to eventually become the largest executive jet market in Asia, the report added.