Business aviation in the Middle East is expected to keep growing at a faster rate than that seen in North America and Europe, but slower than the more dynamic expansion now being seen in the emerging markets of Asia. This is the broad consensus among manufacturers and service providers for a region that is emerging from a somewhat unsettled two-year period that has seen fallout from wider economic problems and the so-called Arab Spring political unrest.
Sparta, N.J.-based business aviation consultancy Brian Foley Associates today said it believes the recovery of the business jet market will be sooner than previous estimates, despite “being nowhere near the bottom” of the current market cycle. “It’s hard to think recovery in this environment, but there’s reason to believe that we may come out of this a little sooner than widely expected,” noted company president Brian Foley.
Brian Foley Associates, a business aviation consultancy that provides market analysis to the investment community, believes the peak for business jet backlogs likely occurred in the third quarter and will begin shrinking for the predictable future.