Some 9,769 business aircraft will be produced between 2003 and 2012 - business worth $134.5 billion. That's the prediction from Forecast International/DMS in a new study called The World Market for Business Jet Aircraft.

Despite the tough times at present, the Forecast team says amid the gloom "signs do exist that justify a sense of cautious optimism". Some of these include increasing dissatisfaction with the airline industry and continued growth in fractional programmes.

A key factor "working in the industry's favour" is that the public perception of business jets has changed in recent years. "Business jets are no longer viewed exclusively as toys for wealthy individuals or as perks for high-level corporate executives," said Raymond Jaworowski, senior analyst at Forecast International.

Forecast International says that 574 business aircraft will be produced this year, a second year of decline in production. But that should increase to 603 units in 2004 and 743 in 2005 and continue to increase through most of the remainder of the 10-year forecast period.

Source: Flight Daily News