Based on its most recent statistics and industry member surveys, aviation data provider Jetnet continues to forecast an upturn in the market. “If you liked the industry over the last 10 or 20 years, we believe it’s going to get even better,” said JetNet iQ director Rolland Vincent at the company’s “state of the market” briefing this week at the NBAA Convention.
Over the next 10 years JetNet iQ predicts a strong rebound in business aviation, with deliveries of 10,424 new business jets valued at $253 billion. For 2012, the company sees 699 business jet deliveries, a total that will rise to 732 next year, an increase of 3.7 percent and 8.1 percent, respectively, over 2011’s tally.
Primary drivers of the resurgence include a return to economic growth, the increasing international scope of business aviation flight operations and customers, and fleet renewal among existing customers, who have forestalled their purchases during the recent downturn. With improving economic conditions in the U.S. coupled with post-election “getting back to business” decisions necessary to run the country, Vincent believes that conditions are ripening for U.S. organizations to lead a resurgence in business aviation.