The FAA is forecasting a recovery for general aviation, with business jets and light sport aircraft leading the way. After growing rapidly for most of the past decade, the demand for business jets has slowed over the past few years.
A study released last week by Forecast International projects that the decline in business jet production, which began in 2008, will continue through 2011. Looking ahead, "The Market for Business Jet Aircraft," predicts a total of 11,437 business jets with an estimated value of $217.5 billion will be produced from 2010 through 2019.
Forecast demand for executive charter flights over the next 30 days is slightly down from a month ago, according to the latest data from online charter portal Avinode. As of November 1, the forward-looking demand index produced by the Sweden-based group was 92.83, about 2 points below where it stood on October 1. However, this month’s demand index is still about 32 points ahead of where it was 12 months ago.
At this year's NBAA show, while attendees search for signs that the industry downturn is finally ending, engine, equipment and avionics manufacturer Honeywell sees at least one more down year in 2011 before the start of a rebound cycle.
The International Air Transport Association (IATA) revised its 2010 airline industry outlook to reflect a projected profit of $8.9 billion, compared with the $2.5 billion profit forecast it published in June. But despite what most would consider a glowing projection, IATA general director and CEO Giovanni Bisignani called for a “reality check” due to the razor-thin margins on which airlines operate.
Aviation market consultant Brian Foley predicts that business jet deliveries will rise at “a steady 2.7-percent per year (compound annual growth rate) between now and 2019.” His forecast calls for 8,900 business jets, worth $170 billion, to be delivered in the 10-year period.
Aviation market consultant Brian Foley predicts that business jet deliveries will rise at “a steady 2.7 percent per year (compound annual growth rate) between now and 2019.” His forecast calls for manufacturers to deliver 8,900 business jets worth $170 billion in the 10-year period.
Forecast International, known for development of the 10-year unit and value production forecast for aerospace, defense, electronics and power systems industries, is unveiling its new Platinum Forecast System here at the Singapore Airshow.
In its latest business jet market prediction covering the next 10 years, Forecast International calls for worldwide production of 11,277 business jets worth an estimated $197 billion. According to the report, total production will decline for the next two years, to a low of 716 aircraft in 2011, before beginning its rise through the end of the forecast period.
Engine manufacturers Honeywell and Rolls-Royce expressed tempered optimism about the helicopter marketplace at February’s Heli-Expo, where each released its annual industry forecast. Both predicted a dip in deliveries and offered caveats reflecting the precarious state of the economy.