After falling for five consecutive years, business jet deliveries this year are poised to rise for the first time since 2008, according to a forecast released by JetNet iQ on Friday at the NBAA Aircraft Registration, Finance and Legal Conference in St. Petersburg, Fla. The prognostication calls for 685 jets worth $21 billion to be shipped this year, compared with an estimated 644 jets worth $20.5 billion delivered last year.
JetNet iQ’s latest operator survey also indicates that 43.3 percent of respondents believe that the business aviation market is past the low point and is on the upswing, while 33.9 percent believe it is still at the low point and only 22.8 percent think the market has not yet reached the low point. “This is quite a change from last year,” when respondents were more pessimistic than optimistic, said JetNet iQ director Rollie Vincent.
According to the JetNet iQ survey, 25.9 percent of North American operators said they are very likely to buy a new aircraft in the next five years. But this number is eclipsed by pent-up demand in Europe, where 38 percent of operators say they’re very likely to buy a new aircraft during this period; Latin America, 26 percent; and the rest of the world, 27.5 percent. JetNet iQ expects the business jet fleet to grow by 35 percent, to 26,331 aircraft, over the next 10 years.