Embraer Bullish on Bizjets This Decade
Brazilian aircraft manufacturer Embraer released a 10-year business jet forecast at the Sun ’n’ Fun Fly-In in Lakeland, Fla., yesterday that calls for 10,000 business jets worth $190 billion to be delivered between this year and 2019. If this estimate proves accurate, the next 10 years will be better than the previous decade, when 8,000 jets worth $155 billion were shipped. While Embraer’s forecast for the next year is relatively flat, the curve rises sharply in 2012 and builds to reach 2008 levels–about $22 billion in annual business jet deliveries–in the 2016 to 2017 time frame. It then continues upward, hitting nearly $25 billion in jet shipments for 2019. North America is expected to remain the top consumer for business jets, taking 48 percent of deliveries. Europe is next, at 34 percent; Asia Pacific, 8.2 percent; Latin America, 6 percent; and China, 3.5 percent. Meanwhile, Embraer delivered 19 business jets in the first quarter (16 Phenom 100s, one Phenom 300 and two Legacy 600s) and plans to ship 120 Phenoms and a mix of 17 Legacy 600s, 650s and Lineage 1000s this year. Certification and first deliveries of the 3,900-nm Legacy 650 are scheduled for the second half of this year.