Business aviation’s annual contribution to the US economy is expected to climb by over $50 billion within five years bringing, the industry’s annual input to $183 billion.
This is according to a study – one of two published on the eve of NBAA BACE – of US-based private jet financiers and brokers commissioned by Airbus Corporate Jets (ACJ).
With fewer than 500 of the 5,000 public-use airports in the USA currently served by commercial airlines, business aviation has become a key and often indispensable component of the country’s transportation system. Some 85% of survey respondents believe the significance of this role will continue to grow over the next five years.
The ACJ study also reveals over 60% of financiers and brokers expect the sale of large business jets to increase over the period, driven by a desire to upgrade from older to new-generation models – particularly high-end, large-cabin and midsize business jets.
Airbus says these sectors “are increasing at a faster rate than other categories due to their range and capacity, and because OEMs are driving interest with the introduction of new models”. Between now and 2027, 84% of those surveyed believe the focus on top-end and midsize jets will increase.
The second study from ACJ reveals 90% of senior executives at large corporations expect widespread availability and take-up of sustainable aviation fuel (SAF) will lead to an increase in US companies using private jets. Similarly, 90% of respondents expect SAF affordability will lead to an overall increase in the sale of business aircraft.
The report also shows the growing role played by the business aviation industry in supporting humanitarian causes with two-thirds of senior executives of large US corporations open to using their aircraft for philanthropic purposes.
