Embraer Presents Favorable Outlook for Bizav in China
Embraer Executive Jets anticipates demand for 805 business jets over the next decade, according to its China Executive Aviation Market Outlook 2014-2023, released on Tuesday at the Chinese International Business Aviation Show in Shanghai. The outlook, which is based on “comprehensive studies of the country’s economic scenario,” added that large-cabin business jets represent about 51 percent of future demand, accounting for 78 percent of total value of deliveries.
The Brazilian OEM points out that the overall environment in China calls for the development of executive aviation to meet the demand for direct business and leisure travel beyond the destination and schedule limitations of the airlines. The study also highlights aviation infrastructure improvements among catalysts to executive aviation growth, with the number of FBOs expected to increase to nine from the current five between next year and 2023.
The forecast also notes the relatively recent growth of executive aviation in the country. Quoting from the Hurun Report, a Chinese lifestyle magazine, Embraer said that from 2008 to 2012 China’s fleet of executive jets has experienced an average annual expansion of 27 percent, fueled by a 26-percent growth of the wealthiest population.