Second-quarter business jet deliveries climbed by 30 percent in North America, but this gain was more than offset by deficits in the rest of the world, according to data released yesterday by UBS Global Research. Global business jet shipments, excluding very light jets, fell 1 percent during the quarter, dragged down by losses in other world regions: -50 percent in Asia-Pacific outside China/India, -39 percent in China/India, -23 percent in Western Europe and -21 percent in emerging countries in Europe, the Middle East and Asia.
However, on a rolling 12-month basis global business jet deliveries are 6 percent higher, thanks to 25-percent growth in North America that was “broad based across all cabin classes,” UBS noted. Western Europe and Latin America shipments were relatively flat during this period, while the rest of the world saw deliveries plunge by more than 20 percent.
By cabin class, midsize jet deliveries rose 7 percent in the second quarter, while light jets inched up by 2 percent and large-cabin jets declined 5 percent. But on a rolling 12-month basis, light and large-cabin jet deliveries climbed 15 percent and 7 percent, respectively, year-over-year, while midsize jet shipments fell 14 percent. Notably, large-cabin jet deliveries are now about 8 percent above the prior peak in 2008.
UBS “anticipates further improvement in North America driven by pent-up corporate replacement demand, although a broad industry recovery is dependent on rest-of-the-world stabilization.”