Jetcraft’s 3rd Annual Business Aviation Market Forecast Predicts Fleet Will Grow 33% over Coming Decade
Jetcraft’s 3 rd Annual Business Aviation Market Forecast Predicts Fleet Will Grow 33% over Coming Decade
Ten-year projection points to new business cycle, improved absorption rates of pre-owned aircraft and predicts the trend for widebody aircraft will continue
Jetcraft, the leader in business aircraft sales, marketing and ownership strategies, today released its third annual 10-year business aviation market forecast. The global business aviation installed base of just more than 21,000 aircraft will surpass the 28,000 unit mark (net retirements) in 2026, growing 33% during the forecast period.
Jetcraft’s 2017 forecast calls for 8,349 unit deliveries representing $252 billion in revenues (based on 2017 pricing) to be realized by 2026. North America will again lead the way with 62% (5,176 units) marketshare of unit deliveries, followed by Europe with 17% and Asia with 12% (1,420 units and 1,002 units, respectively).
“Pinpointing the transition into a new business cycle is challenging,” said Jetcraft’s Chairman Jahid Fazal-Karim. “Our forecast indicates we are finally exiting the post-2008 recession period, entering several years of steadier, healthier growth and expanding revenues. This new business cycle should shape our industry for years to come.”
Pre-Owned Market Pace Improves
If market assumptions established over the previous business cycle remain, absorption rates in the pre-owned market will shorten over the forecast period. This trend characterizes a healthy pre-owned market across all aircraft categories, with significant improvement in the Large aircraft segment. Furthermore, absorption rates for pre-owned aircraft should shorten during a period of important new program releases during the coming years.
Larger Aircraft Preference, Substantially More Revenues