AINsight: Industry Preps To Gather at NBAA Convention

 - October 3, 2018, 2:32 PM

NBAA’s BACE is just around the corner, and this year we will all converge in Orlando, Florida from October 15 to 17. These gatherings are always critically important. We have met as an industry for years and there is typically a different backdrop for each year. Some years it is right before a Presidential election. Some years it is during our darkest economic times and others—like this one—it is surrounded by optimism and glasses half full.

Over the last few months, I have had the privilege of speaking at industry events, and at each one the idea of good times abounds has been the theme. This will be the first NBAA-BACE to have this much positive energy in more than 10 years, with high demand and very low global supply of preowned business aircraft. In fact, the only reason any of our businesses are not better than they are is just the sheer lack of available supply. This is the first time in more than 10 years that the global economy seems to be growing in sync with every market. Combine that with the fact that not in 10 years have so many first-time buyers come into the market at once.

We typically enjoy a two-aircraft opportunity when we work with a client. First, we are engaged to sell the client’s current airplane then turn around and acquire/replace the airplane we just sold. In the case of the first-time buyer, there is no relinquished airplane to sell, so the chance to sell is eliminated and we are tasked only with acquiring. Don’t get me wrong: this is a positive occurrence and marks the first time in more than a decade that the pool of business aircraft owners is actually growing. Growth is fabulous.

Now let’s focus on the celebration. I do not mean to insinuate that we are all walking around the trade show with our neckties askew and party hats on. I mean that, when you put 25,000 of the best and brightest aviation professionals together, what you have is a celebration of collaboration, discussion, and actual growth among us all. Sure, there are a few times each year some smaller gatherings allow for this coming together, but the NBAA-BACE is the king of them all. We learn together through visiting exhibits, attending working sessions on the most topical programs, and then of course we dine and socialize together.

Once back home, we can use all the collective information to be even better informers for our clients and prospects. I am not sure of any other industry that gathers, informs, educates, and celebrates like business aviation does during NBAA BACE. If you have not made plans to attend, you should! It is well worth the investment of dollars and time. I look forward to being together and walking away even better and brighter. See you there.