GAMA, the General Aviation Manufacturers Association, released its first quarter 2024 shipment and billings report earlier today. Business for the general aviation sector is up slightly over 2023. However, billings in current dollars still have not caught up to 2019 levels and would be well below 2019 on an inflation-adjusted basis. In a nutshell, stagnation continues in the business aviation market, with a few pockets of success.
The following table summarizes deliveries over the last six years and shows that the business jet industry is still not back to 2019 levels in 2024.Supply chain constraints continue to restrict deliveries, and book-to-bill ratios that are over one continue to provide long-term confidence in the sector.Unfortunately, given today’s circumstances after the great resignation after the pandemic, the industry continues to lack the experienced personnel to produce at the rates it once achieved.The industry remains far from the record performance in 2007-2008, and we do not expect to be matched before the mid-2030s in terms of volume.
