Rolls-Royce forecasts steady bizjet growth
Rolls-Royce has again peered into its crystal ball and is predicting steady growth in business jet deliveries through the remainder of the decade, it said yesterday here at EBACE. In a longer view, the company forecasts a demand for 39,000 new business jets, ranging from very light jets to bizliners, worth some $715 billion over the next 20 years.
Of the 39,000 new business jets that Rolls-Royce projects to be delivered by 2028, nearly 16,000–or 40 percent–are expected to be in the midsize or large business jet category. The company predicts that these two aircraft categories will represent 75 percent of the billings over the next 20 years. In contrast, very light jets are expected to account for 7,500 deliveries worth a mere $15 billion in the same period.
According to Rolls-Royce, the business jet market is being stoked by a rise in non-U.S. deliveries, growth in the number of high-net-worth individuals, continued economic expansion and globalization. Further driving bizjet market growth is the introduction of several new models and the business community’s increasing acceptance of using business jets as a productivity tool. Over the past year alone, business jet deliveries climbed 28 percent.
Industry confidence is high, as evidenced by the investments that bizjet manufacturers are making in new aircraft such as the Gulfstream G650 and Dassault Falcon super-midsize jet, both of which will be powered by new Rolls-Royce turbofan engines. And customers are making investments in these new models, too, with backlogs reaching record highs at all of the major business jet manufacturers. Current market signals are also positive, with the fractional fleet continuing to grow and a tight pre-owned business jet market, Rolls-Royce noted.