Rolls-Royce Forecasts Steady Bizjet Growth
In its latest business jet forecast, released today at EBACE, Rolls-Royce predicts demand for 39,000 new aircraft, ranging from very light jets to bizliners, worth some $715 billion over the next 20 years. Of this projected total, the engine maker believes that nearly 16,000 will be midsize or large business jets that will account for more than $536 billion in billings. In contrast, very light jets are expected to account for 7,500 deliveries worth $15 billion over the same period. According to Rolls-Royce, the business jet market is being stoked by a rise in non-U.S. deliveries, growth in the number of wealthy individuals, continued economic expansion and globalization. Further driving bizjet market growth is the introduction of several new models and the business community’s increasing acceptance of the business jet as a productivity tool. Business jet deliveries climbed 28 percent last year, and backlogs are now at record highs at all of the major bizjet manufacturers. Current market signals are also positive, with the fractional fleet continuing to grow and a tight pre-owned business jet market, Rolls-Royce noted.