Up to 9,450 new business jets worth $280 billion are forecast to be delivered over the next 10 years, according to Honeywell Aerospace’s 23rd annual Business Aviation Outlook, released yesterday. This reflects an 8-percent increase in projected billings over the 2013 outlook, thanks to slightly higher aircraft deliveries “modest” list price increases and continued strong demand for larger business jets. While annual billings are expected to surpass peak 2008 levels in 2017 and beyond, unit deliveries are not projected to reach the 2008 peak any time during the 10-year forecast.
News and issues relating to business, corporate and private aviation, primarily regarding turbine-engine powered airplanes and helicopters. Subjects include aircraft, engines, personnel, acquisitions, accidents, safety, security and training.
Textron Aviation is showcasing its complete line of business jets and turboprops this week at NBAA 2014, with all 12 models on display at Orlando (Fla.) Executive Airport, led by the debut appearance of its midsize Cessna Latitude, which is expected to be certified in the first half of next year.
The business jet market has been on the mend for quite some time, but only recently has the improvement shown clear signs of acceleration. According to recent statistics, it was about one year ago that the inventory of used business jets began to shrink at a faster rate than during previous years. Since last year’s NBAA Convention, the industry has experienced a 10-percent drop in used aircraft inventory, or nearly 300 fewer aircraft.
Global Jet Capital (GJC), a new source of leasing and lending options for business jet transactions, starts operations this week. The company has been launched with an initial $2 billion fund with the backing of three investment firms: GSO Capital Partners, The Carlyle Group and AE Industrial Partners.
NBAA Convention attendees are invited to join the National Aircraft Resale Association (NARA) for a panel session on trends and changes affecting new and used aircraft sales. The session, “Current Trends Impacting Business Aircraft Sales,” is scheduled for Wednesday, October 22, at 3 p.m. in Room S320E and is part of the Management and Aircraft Ownership educational track session.
The manufacturer of the Lektro electric aircraft tug brought its 4,500th tug–an AP 8850 SDA–to this year’s NBAA show and will present that tug to the customer, Jet Aviation Dubai, at Booth 1881 tomorrow. Warrenton, Ore.-based Lektro, the official NBAA static display towing provider since 1996, began making electric-powered aircraft tugs available for the show at the 1986 convention in Anaheim, Calif.
Business aviation is on its way to the Orange County Convention Center in Orlando, Fla., to join colleagues, vendors, manufacturers and friends at the annual NBAA Business Aviation Convention & Exhibition. Pre-show events begin this weekend and the exhibit halls open at 10 a.m. on Tuesday, immediately following the opening-day general session at 8:30 a.m. in the south hall.
Garmin announced “strategic partnerships” with some of its authorized dealers today to provide a standalone ADS-B solution for several business jet models. According to Garmin, the “minimally intrusive solution” satisfies global ADS-B Out requirements by using existing equipment to alleviate the need for flight management system and cockpit display upgrades.
Dassault Aviation’s revenues during the first nine months fell 14 percent year-over-year, to €2.229 billion, the result of slightly fewer shipments of Falcons, the French aircraft manufacturer announced today. In the first three quarters, the company delivered 38 Falcons versus 41 in the same period last year.
Though deliveries were down, sales of Falcons during the nine-month period soared by about €1 billion, to €2.910 billion, from a year ago. Dassault sold 67 Falcons from January 1 through September 30, a 63-percent gain on the 41 Falcons sold in the same period last year.
By the end of the third quarter, Embraer’s firm order backlog had risen to $22.1 billion, the highest in the company’s history and up from $18.1 billion at the end of June. During the third quarter, the company delivered 19 regional jets and 15 business jets (all Phenoms). Over the first nine months, Embraer delivered 62 regional jets and 64 business jets (54 Phenoms and 10 “large jets”).