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Biz jet deliveries plummet by half since 2007

Last year's business jet delivery tally of 675 aircraft was half the total at the height of the market in 2007 - according to an industry study compiled by Flightglobal's Ascend Advisory.

While North America and Europe still remain the two key markets for new aircraft deliveries, their combined share of annual shipments has fallen from almost 90% in 2003 to 70% in 2012, Ascend reveals. The continents' decline has been prompted by the protracted economic crisis and the shift in sales focus to the prosperous emerging markets, especially Latin America and Asia-Pacific.

"Outside the USA, the 10-year business jet fleet growth is led by Brazil, with over 750 aircraft added since 2003. This market has been stimulated by 'home' producer Embraer's growing portfolio of business jet types," says the study.

Ascend points to a "definite shift in focus" towards larger business jets in the past five years. "Midsize and large cabin types accounted for 53% [of new aircraft deliveries] last year, compared to less than 40% 10 years ago," the study reveals.

In contrast deliveries of very light, entry level and light business jets have more than halved from a 28% share of the shipment tally in 2003 to 13% last year, says Ascend.

"The market for new smaller jets (light-mediums and under) has been affected by a high used inventory and a lack of financing," it continues.

The company is hopeful the business jet market will emerge from the doldrums within the next five years thanks to "20 brand new types or upgrades of existing aircraft" coming into the market. "It is possible that new deliveries will once again pass 1,000 per year by the end of this decade," says Ascend.

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