Embraer Executive Jets' recently released 10-year demand forecast for business jets predicts sales of 9,100 aircraft worldwide worth $259 billion. This represents a modest annual growth rate of 3 percent, as well as a slight increase in deliveries compared with the previous decade, at 8,190 business jet shipments worth $198 billion.
Once again the North American market drives the demand with 4,850 units worth $130 billion, followed by Europe and Africa with 2,100 jets worth $64 billion; the Middle East and Asia-Pacific with 1,500 aircraft worth $54 billion; and Latin America with 650 airplanes valued at $11 billion.
Large jets will lead the market both in terms of number of units and valuation at 3,400 and $175 billion, respectively. But midsize jets are expected to regain some traction, selling 3,280 worth $66 billion, which is good news for Embraer's new Legacy 450 and 500. Meanwhile, while the light jet market will continue to struggle, with estimated deliveries of 2,420 worth $18 billion.
While other regions of the world are lagging, Embraer Executive Jets president and CEO Marco Túlio Pellegrini said the North American market is steadily improving, accounting for 66 percent of deliveries in the third quarter this year.
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