Aircraft trading company Jetcraft has hailed 2018 as a “turning point” for the industry after a turbulent decade, and upped its prediction for aircraft deliveries in its fourth 10-year market forecast, issued ahead of the show.
The NBAA BACE static exhibitor expects 8,736 new business jets to be handed over between now and 2028, a slight increase on the 8,349 in its last annual outlook. North America will continue to dominate, with 60% of deliveries, followed by Europe on 18% and Asia-Pacific on 13%.
Jahid Fazal-Karim, Jetcraft’s owner and chairman, says the current “cycle of steady and healthy growth” will continue, “driven by an increase in wealth creation and the demand for larger and more expensive aircraft”.
He adds: “2018 has been a real turning point for business aviation, as we have now successfully navigated through our industry’s most difficult period.”
He notes that Fortune 500 companies still have not returned to “historic aircraft transaction levels”, focusing instead on priorities such as share buybacks and paying down debt. “This customer segment is unlikely to restart aircraft purchasing programmes until well into the cycle,” he says.
Jetcraft’s forecast predicts that the large category, including converted airliners, will make up 32% of total units and 64% of revenue over the 10 years.
Jetcraft’s full forecast is available at jetcraft.com/knowledge.
Source: Flight Daily News