A 10-year business jet market outlook released today by pre-owned aircraft broker Jetcraft reflects a marked recalibration of growth expectations once inflated by what has proved to be the industry’s unfounded belief that emerging markets would trigger a golden age of growth. According to Jetcraft’s analysts, 8,755 new aircraft worth $271.1 billion will be delivered between 2015 and 2024.
Annual delivery totals are set to rise at a compound annual growth rate (CAGR) of 7.5 percent to a peak of 1,127 in 2021 from 735 aircraft this year. It then predicts a moderate downturn between 2022 and 2024.
In terms of units and revenue, ultra-long-range jets are expected to command the lion’s share, while super-light jets are seen as the least significant in deliveries and very light lets generating the least in revenues. The highestCAGR gain over the forecast period is set to be among midsize jets, with large aircraft expected to achieve the lowest growth.
Over the 10-year period, the forecast sees 54 percent of the new deliveries going to North America (4,728 aircraft); Europe, 14 percent (1,225); Asia-Pacific, 12 percent (1,050); Russia and the CIS, 5 percent (438); and Middle East and Africa, each with 3 percent (263).
WestJet completed the transformation of its remaining all-economy aircraft, fulfilling its commitment to update the interior of all aircraft that were formerly operated by Swoop or Sunwing airlines. T...
TravelX announced that Kaszek, Latin America's leading venture capital firm, made a substantial investment in its platform, bringing the company's total funding to $45 million. The invest...
Luxaviation UK renewed its WYVERN WINGMAN Certified Operator status, underscoring its ongoing commitment to the highest standards of operational safety and discipline. This certification is upheld thr...
EHang launches its Global Fast Track Program — a structured and accelerated pathway for the assessment and introduction of pilotless eVTOL operations in international markets. Sri Lanka is...
