Bombardier Aerospace’s new Business Aircraft Market Forecast predicts that 26,000 business jets will be delivered between 2010 and 2029 in the segments where the manufacturer competes according to Aviation Week. This is the first time Bombardier has included a 20-year outlook for business aircraft.
The 20-year forecast period represents total revenue of around $661 billion for the industry, of which 10,500 deliveries worth $254 billion are anticipated in the period from 2010 to 2019, and 15,500 deliveries worth $407 billion in the period from 2020 to 2029.
Despite the continued global economic downturn, the Canadian manufacturer believes long-term market drivers of growth for the business jet industry remain solid. “Toward the second half of calendar year 2009, these indicators began showing signs that this market segment was stabilizing,” says the report. “The market drivers include wealth creation, above average economic growth in emerging markets, increased globalization of trade, significant replacement demand potential, new aircraft programs and demand from non-traditional offerings.”
However, Bombardier warns, while there are signs of stabilization in the business aircraft industry, historically a lag exists between economic recovery and its positive impact on revenues. “Bombardier will maintain its focus on strengthening its market leadership position by continuing to invest in its in-development Learjet 85 aircraft and Global Vision flight deck programs,” says the report. “With a strong product line and dedication to customer support and product development, Bombardier plans to benefit from the expected long-term market growth and to lead the way in the business jet market.”