U.S. Trade Commission Files Report on Bizjet Industry
“The U.S. business jet manufacturing industry is facing new challenges as it competes in a market environment characterized by tightened credit, uncertain government funding for research and development and new entrants into the industry,” according to a report published yesterday by the U.S. International Trade Commission (USITC). The commission report, undertaken at the request of the House Ways and Means Committee, covers the 2006 to 2010 period, along with all available data from 2011, for business jets with an mtow of 50,000 pounds or less.
The report provides an overview of the structure of the U.S. and global business jet industry; discusses the global market for business jets and the effects of the recent economic downturn on business jet demand; reviews government policies and programs involving the business jet industry, including those related to financial support, aircraft R&D and certification; and examines factors that could affect the future competitiveness of the industry, particularly in the U.S., Europe, Brazil, Canada and China.
Both NBAA and GAMA praised the release of the report. “This new report underscores the fact that business aviation is an essential industry, strengthening America’s manufacturing base, fostering economic development and serving as an indispensable tool for thousands of companies trying to operate in a fiercely competitive global marketplace,” NBAA president and CEO Ed Bolen said.