Bizjet Deliveries Will Return to Sustained Growth in 2013
Published July 9, 2012
Categories: Business Aviation
In its latest business aircraft market forecast, Bombardier Aerospace said it believes that the long-term market drivers of business jet industry growth remain solid. These market drivers include: wealth creation, increasing business jet penetration in high growth economies, globalization of trade, replacement demand and market accessibility.
The plane-maker said this confidence is reflected in its 20-year
delivery forecast, which predicts 24,000 business jet deliveries valued at $648 billion. We anticipate 9,800 deliveries worth $266 billion from 2012 to 2021, and 14,200 deliveries worth $382 billion from 2022 to 2031, Bombardier said.
Bombardier said it expects the worldwide business jet fleet to grow at a compound annual growth rate (CAGR) of 3.7% over the forecast period, from
15,200 aircraft in 2011 to 31,500 aircraft by 2031, net of retirements.
In the short term, the forecast predicts deliveries will lag orders as manufacturers attempt to maintain backlog levels. Bombardier expects business jet deliveries to return to sustained growth starting in 2013, with the large aircraft category demonstrating the fastest growth.
Bombardier said that North America will continue to lead the world in business jet deliveries with 9,500 aircraft, followed by Europe with 3,920. China will become the third largest market for business jet deliveries with 2,420 deliveries from 2012 to 2031.
To read the Bombardier Business Aircraft Market forecast click here.