JetNet’s Crystal Ball Shows $258B in Bizjets by 2020
JetNet released its first 10-year business jet delivery forecast last week, predicting worldwide deliveries of 11,476 new business jets worth $258 billion by 2020. In January, the company launched its new JetNet iQ survey program and used the more than 1,000 global responses it received, combined with product life cycle, market value analysis and other economic indicators, to shape its forecast. In its second-quarter survey, nearly 12 percent of JetNet iQ’s respondents indicated a better-than-60-percent probability that they would purchase a new turbine-powered aircraft in the next year, while approximately 16 percent said they would likely purchase a pre-owned aircraft in that same time span. Among those who responded, an overwhelming majority said they planned to fly at least as much if not more in the next 12 to 24 months. In his presentation last week, JetNet iQ founder Rolland Vincent noted that although China’s ratio of ultra-wealthy individuals to business jets is the highest the company has encountered (276 to one), even if that country’s business jet fleet were to quadruple over the next 10 years it would not have a tremendous worldwide impact due to the low numbers currently registered there.