Engine maker Rolls-Royce has dismissed prospects of an imminent downturn in the business aviation market, predicting continuing growth this decade and an engine market worth $110 billion over the next 20 years, with medium and large business jets dominating in terms of aircraft and engine value.
R-R forecasts that 79,000 engines, valued at $110 billion, are needed over the next two decades to meet a demand for 39,000 new business jet aircraft, from very light jets to business jetliners. Demand is being boosted by an increase in deliveries to markets outside the USA coupled with the introduction of new models, which will add a further stimulus to the market.
R-R says demand is being fuelled by the "business community's increasing recognition of the value of using business jets as a means of enhancing productivity".
Of the 39,000 new business aircraft, 40% are expected to be in the medium or large business jet category (75% by value). The forecast predicts that nearly 16,000 medium and large business jets will be delivered between 2008 and 2027.
Source: Flight International
