The global business aviation industry is anticipating a modest increase in flight utilization, according to statistics released last week by aviation information services firm JetNet at its second annual iQ Summit in New York City. Based on the results of its most recent quarterly survey of business aviation operators, the company foresees nearly 5-percent growth in flight hours worldwide over the next 12 months and a 7-percent increase in the following 12 months.

Half of the survey respondents believe that the industry is currently at the low point in the business cycle, while about 24 percent say business aviation has yet to reach bottom. Those pessimists are about evenly balanced by the remaining 26 percent, who believe the industry is on an upswing.

Among the respondents, 36 percent reported that they have delayed the purchase of a new business aircraft since the economic downturn began in 2008. Among the top reasons cited for the delay was uncertainty about the economy or regulatory environment, while nearly 5 percent mentioned the public opinion toward business aviation as a factor in their decision to delay their purchase.