The FAA now doesn’t expect domestic commercial air travel to return to pre-9/11 levels until 2006, and its earlier forecasts that U.S. airlines would be enplaning one billion passengers a year by 2010 have been pushed back to at least 2014.
News and issues concerning aerospace companies, including formations, acquisitions, mergers and financials; and announcements of significant aircraft sales, delivery statistics and personnel appointments.
If anyone went to the General Aviation Manufacturers Association’s annual review and outlook hoping to see light at the end of the economic tunnel, they had to be disappointed. “This may not be the deepest trough in modern times,” said GAMA chairman Bill Boisture, “but it is certainly one of the longest.”
And you thought the dot.com bubble-burst was bad.
The empty hangars at Oberpfaffenhofen airfield outside Munich reflect a stark impression of the decline Germany’s aerospace industry has experienced over the past decade. But if one were to look hard enough, signs of renewal have begun to emerge at this extensive industrial site, where Dornier GmbH built scores of aircraft for more than 60 years.
Jeppesen is holding its own in a difficult business market, according to Mark Van Tine, president of the Englewood, Colo.-based instrument chart-publishing company that is a subsidiary of Boeing. “We had $315 million in gross revenues last year and maintained a five-year run of double-digit growth.
Organizers of the UK’s biennial Farnborough International Air Show (to be held July 19 to 25) have signed up several major exhibitors for the event’s new Business Aircraft Park, with some manufacturers including regional airliners in its separate static display area alongside their executive transports.
A four-year, NASA-led project began last month to determine the requirements and procedures for safely integrating the operation of unmanned aerial vehicles (UAVs) into the National Airspace System. First-year funding of about $8.4 million will be used primarily for detailed planning and validation of requirements for UAVs to fly above FL400, where many business jets operate.
In a study titled “The Market for General Aviation/Utility Aircraft 2007-2016,” Forecast International said it anticipates a decline in corporate demand for twin turboprops in favor of the fractional ownership of turbofan-powered aircraft. Further, it expects this trend to accelerate as more sub-$4 million very light jets are delivered.
For those who gaze into crystal balls and analyze the business jet market, there are heady days in store, according to recent industry prognostications. Honeywell Aerospace’s 21st annual business aviation market forecast predicts the industry can expect short-term record growth and delivery of more than 14,000 new business jets by 2017–numbers that reflect even more optimism than those the company released last year.
A soon-to-be-released very light jet forecast from PMI Media estimates that 7,650 VLJs, worth some $18.36 billion, will be delivered between 2007 and 2016. “We are predicting 2007 deliveries of VLJs to be around the 200 mark, up from our 2006 forecast of 175.