Engine OEM Sees 24,000 New Jets by 2025
Rolls-Royce forecasts that 51,000 engines, valued at $70 billion, are needed over the next 20 years to meet demand for 24,000 new corporate jets, from very light jets through business jetliners. “Demand is being fueled by the business community’s increasing recognition of the value of using business jets as a productivity tool,” the turbofan engine manufacturer said. Of the 24,000 new corporate jets expected to enter the market, nearly half are projected to be in the medium or large business jet category. In fact, according to the market forecast, only the popular commercial 130- to 190-seat aircraft will surpass the medium and large business jet category in deliveries over the next 20 years. In terms of fleet size, this market segment is expected to grow 142 percent to a total of more than 16,500 aircraft by 2025. The number of new business jets Rolls-Royce projects to enter service in the next 10 years is close to the 12,000 aircraft Honeywell predicted in its annual forecast.