Saying it is “confident in the strong, long-term potential of the business aircraft industry,” Bombardier Aerospace released a 20-year forecast on Friday that predicts deliveries of 24,000 business jets worth $650 billion in the segments in which the company competes. Bombardier’s latest business aircraft market forecast anticipates 9,800 aircraft deliveries worth $269 billion from 2013 to 2022 and 14,200 aircraft worth $381 billion from 2023 to 2032.
“The business aviation market continues to recover, and while current macroeconomic indicators are mixed, the overall trend for the world economy is stable to positive,” Bombardier said. “It is expected that as confidence returns to world markets, aircraft orders and backlogs will expand and deliveries will grow.”
While it anticipates that business jet deliveries this year will be comparable to those of 2012, Bombardier believes deliveries will begin to improve next year and that the industry will surpass its prior delivery peak in 2008 by as early as 2016. As demand for business jets shifts toward emerging markets, “The fleet of large and medium-category aircraft will grow, with the large category demonstrating the fastest growth,” the company said.
Over the 20-year forecast, Bombardier predicts North America will receive the greatest number of new business jet deliveries, followed by Europe. China is forecast to come in third, with deliveries of 1,000 from 2013 to 2022 and 1,420 from 2023 to 2032.