New Delhi, October 27, 2018: Jetcraft’s fourth-annual business aviation market forecast calls for deliveries of 8,736 business jets—spanning very light jets to bizliners—worth $271 billion over the next 10 years. It predicts deliveries will peak in 2025, at 1,027 units worth more than $34 billion.
Under the forecast, North America is expected to take the lion’s share of these new deliveries, accounting for 60 percent of volume, or 5,241 aircraft, over the forecast period. This is followed by Europe, 18 percent (1,572 jets); Asia-Pacific, 13 percent (1,136); South America, 5 percent (262); and Africa, Middle East, and Russia/CIS, each at both 5 percent and 175 units according to the reports published in businesstoday.in.
The forecast predicts that the large jet category— super-large, ultra-long-range, and bizliner—will constitute 32 percent by volume, or 2,778 aircraft, and 64 percent of total billings over the next decade. Jetcraft said all new aircraft model programs, both announced and projected, during the forecast period will be super-midsize jets or larger.
Taking into account both forecasted unit deliveries and retirements, Jetcraft is calling for a total installed business jet fleet of 28,195 at the end of 2027, a 37 percent increase that represents 7,598 aircraft.
“This year’s forecast predicts the continuation of our current business cycle of steady and healthy growth, driven by an increase in wealth creation and the demand for larger and more expensive aircraft,” concluded Jetcraft owner and chairman Jahid Fazal-Karim.