A Decade of Business Jet Recovery Seen
Forecast International predicts that nearly 10,900 business jets worth $141 billion will be manufactured between this year and 2014. Following a two-year decline in 2002-2003, business jet production increased by nearly 13 percent last year, and early indications are that this year should also see a double-digit increase. “Between 2005 and 2014, Cessna, Bombardier and Eclipse Aviation will lead the market in unit production,” said Raymond Jaworowski, the Newtown, Conn. firm’s senior aerospace analyst. “Market leaders in value of production are expected to be Bombardier, Gulfstream and Dassault.” Two of the most dynamic segments within the business jet market are expected to be the very light jet (VLJ) class and the long-range business jet class. Forecast International projects that 3,476 VLJs will be produced over the next decade. But “over the long term, the market potential of the VLJs is heavily dependent on the success of VLJ-based air-taxi services,” said Jaworowski.