Bombardier Aerospace “is confident in the strong, long-term potential of the business aircraft industry” and, in its latest 20-year forecast for the business aircraft market, released today, it predicts deliveries of 24,000 business jets (excluding very light jets and bizliners) worth $648 billion from 2012 to 2031. Broken down in 10-year increments, the forecast anticipates 9,800 business jet deliveries worth $266 billion from 2012 to 2021 and 14,200 deliveries worth $382 billion from 2022 to 2031.
“While the business aviation market continues to recover, current market indicators are mixed,” Bombardier said. “Market confidence needs to be fully restored for industry business jet deliveries to increase strongly and enable the industry to realize its full potential.” The Canadian aircraft manufacturer said deliveries this year are expected to lag order intake, so business jet deliveries for 2012 are thus expected to be on par with last year. Bombardier believes that business jet deliveries will return to sustained growth starting next year, with the large-cabin jet segment growing the fastest.
Bombardier predicts that North America will dominate the market, with 9,500 new business jet deliveries over the 20 years of the forecast. Second will be Europe, with 3,920 aircraft, and China will become the third largest market for business jet deliveries at 2,420 aircraft.