Baltimore, Maryland –A new industry forecast from AIR (AirInsightResearch) (www.airdsa.com) “Business Aviation Market: Analysis and Outlook 2017-2030” is available. It presents business jets and turboprop market forecasts and analysis, including a detailed aircraft performance indices from 2017 to 2020.
The business jets segment has suffered an abysmal downturn since the onset of the global financial crisis in 2008. Overall, the market decline from 2009 to 2015 was a staggering -52.9 percent. Further decline materialized until 2017 but aircraft production will enter a period of recovery in 2018-2024, as suggested in at approximately 5 percent growth average annually.
The business and personal jets market has transformed since 2010; new technologies (avionics, flight control systems, and materials) and new competitors (Pilatus, Honda) will spur the global growth of business aircraft. The market is progressively going through the excess inventory resulting from overproduction in the late 2000s and will now enter a period of stable growth driven by fleet renewal, expansion, and regional market growth. A total of 18,279 business jets and turboprops have and will be produced in AIR’s study that covers 2017 to 2030.
“Our study reveals an upward migration in terms of design and market demand” said Michel Merluzeau, AIR market analysis director,” corporate customers are seeking global mobility and the United States is no longer the dominant market that it once was, although it remains the market that still sets many of the standards for today’s jets and turboprop aircraft”
“We are particularly impressed with the Pilatus PC-24, which sets the standards for value and performance in the lower end of the market spectrum,” said Ernie Arvai, President of Air Insight Group. “The upper market segment will witness a rapid growth of the large-cabin market with new designs from Dassault, Bombardier, and AVIC likely to change the competitive dynamics by the late 2020s”.
“In this environment, this race for the next best solution, it is clear to us that supersonic business jets are likely to materialize from 2025. Two companies emerge as front-runners, Dassault and Gulfstream, but those programmes may have to be joint efforts involving traditional and less traditional business aviation participants such as Lockheed Martin and Aerion. This is a smaller market in terms of volume, but given its high revenue potential, market shares could substantially be impacted by 2030,” emphasized Merluzeau.
AIR is a premium aerospace & defense boutique analysis & consulting group. Our innovative strategies and market intelligence have provided a sustainable strategic advantage for our clients for over a decade.
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Please visit http://airinsightresearch.com/business-aviation-market-2017-2030-outlook-and-analysis for more details and to order the forecast on-line.