In its inaugural quarterly report on aircraft financing sent to clients this week, Citi Private Bank said business aircraft financing, “like all other aspects of the business aircraft market, is experiencing ups and downs.”
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President Barack Obama’s February 17 speech at the Boeing plant in Everett, Wash., resonated with those assembled for a number of reasons, but to Boeing Commercial Airplanes, the most encouraging words from the Administration came with some advance briefing material distributed before the event.
“We sense an eagerness for a pickup in the long-depressed business jet market, particularly at the lower end, but we continue to observe mixed signals,” JPMorgan Investment Research notes in its latest market report. Despite the conflicting signals, the investment research firm still predicts an 8-percent rise in business jet deliveries this year.
Boeing Commercial Aviation Services announced here at the show yesterday that it had rebranded its entire service and support offering as Boeing “Edge.” This will cover material services, fleet service, flight services and information services, said the company.
GE Aviation is to expand its manufacturing and R&D capacity in the U.S. with three new facilities to open by 2013, the company announced Tuesday. It expects its production rates to grow from 3,000 commercial and military engine deliveries in 2011 to 3,400 deliveries in 2012 and 3,800 deliveries in 2013, requiring $580 million in plant, equipment and tooling during the 2011-2012 time frame across its network of 55 U.S. operations.
The Asia Pacific market will lead strong passenger growth around the world over the next 20 years, giving Boeing and its rivals with a market for 11,450 airplanes valued at $1.5 trillion. This was the latest assessment of Boeing Commercial Airplanes vice president of marketing Randy Tinseth during a media briefing on eve of this year’s Singapore Airshow
“Asia Pacific is such a strong and dynamic market [and] in 2012 we’ll continue to see resilient passenger traffic growth levels above the forecasted world average,” he predicted.
John Garrison, CEO of Bell Helicopter (Booth No. 9846), said on Sunday he believed that 2011 was the market bottom for the civil helicopter sector and that Bell’s newly-announced 525 super-medium twin program would proceed regardless of whether the Pentagon ordered more V-22 Bell/Boeing tiltrotors after 2014.
India’s big-ticket military acquisitions are expected to aggressively push schedules for the transfer of production to the country’s ambitious aerospace and defense industry. But the technology that India expects to be transferred through co-development work generated by offset agreements is raising concerns among vendors about possible violations of intellectual property rights (IPR).
The supply of parts, assemblies and services for Boeing products has created valuable new economic opportunities in Southeast Asia in recent years. In fact, since 2009, Boeing suppliers have established aerospace manufacturing centers for commercial aircraft production in five Southeast Asia countries: Vietnam, Malaysia, Indonesia, Thailand and Singapore. Meanwhile, Boeing suppliers in other countries, including Australia and Malaysia, have added new commercial or defense manufacturing capacity to their portfolios.
GA Telesis Component Repair Group Southeast has received a 2011 Boeing Performance Excellence Award. GA Telesis maintained a gold composite performance rating for each month of the 12-month performance period for the second consecutive year. It is one of 122 suppliers to receive the Gold Performance Excellence Award among the 529 Boeing-recognized suppliers that achieved either a Gold or Silver level of recognition. The company supplies Boeing with maintenance, repair and overhaul services for hydraulic, pneumatic and power generation components.