Embraer Executive Jets president and CEO Michael Amalfitano was positively beaming as he read out the numbers during his "state of the new aircraft market" report on Monday at EBACE 2019. He announced that the company attained a five-year compound annual growth rate of 15 percent, which compares favorably with the growth rate of the business aviation industry, which he put at slightly less than 2 percent. Moreover, with preowned aircraft inventory dropping, the ratio of new aircraft to preowned aircraft sales is skewing in favor of new, at 3.3 to 1.
"Our U.S. and European customers are driving demand," said Amalfitano. "Compounded, they account for 91 percent of deliveries in the first quarter of 2019, with Europe alone accounting for 24 percent of our new aircraft deliveries. We've now achieved a market share in Europe of 8.6 percent." This constitutes 251 aircraft as of the end of 2018 based in Europe.
The company is expanding its global reach in an effort to keep up with the customer support demands that come with increasing market share. Today, Embraer Executive Jets has 19 authorized service centers in Europe that support 13 field support representatives.