The National Business Aircraft Association convention is underway in Las Vegas, and today we will examine the market and trends for business aircraft. The mood at NBAA is cautiously optimistic for some manufacturers, and unclear for others. But one thing all agree on is that market conditions have changed, and the US market is now the big driver for business aviation in the short-term.
Business aviation took off in the 2000-2008 era, reaching record growth levels and sales. But once the recession hit in the US in 2009, the market shifted. Large intercontinental jets, fueled by China and growth in developing countries, maintained their market position while the small to medium side of the business floundered. But in 2014 and 2015, the international side of the business has weakened while the US market, with Fortune 500 companies having not recently purchased aircraft, has rebounded. The split between US and international deliveries, once approaching 50%/50%, is now back to about 2/3rds US deliveries in 2015.