JetNet iQ Analyst Bullish on Business Aviation in Europe
JetNet iQ director Rolland Vincent is “very optimistic” about the outlook for business aviation in Europe as well as the rest of the world, he said yesterday at EBACE. Over the next 10 years, the company is calling for deliveries of 9,317 business jets worth $257 billion. In 2022, the projected business jet fleet would thus reach 25,937, a 36-percent increase from the 19,016 jets flying today.
Of the forecast deliveries, Vincent expects 1,741 jets, or nearly 19 percent, to be handed over to European customers. If this prognostication pans out, then the European business jet fleet would grow 56 percent to about 4,300 aircraft by the end of 2022.
Foreboding better times ahead, JetNet iQ’s latest survey of about 500 business aircraft owners and operators around the globe indicates 47 percent believe that the current market conditions have passed the low point and 32 percent think we are at the low point. Combined, this means that nearly 80 percent of survey respondents see the market heading upward in the near term.
The survey also showed that European business jet operators expect to increase aircraft utilization by 5.3 percent over the next 12 months and 8 percent in the following 12 months. This is higher than the projected utilization for U.S. operators at 4.4 percent and 5.4 percent, respectively.