A new study has predicted that $135 billion worth of business jets will be produced between 2004 and 2013.
The study, 'The World Market for Business Jet Aircraft', was produced by Forecast International. It projects that a total of 10,809 business jets will be produced during the period.
This will come as welcome news to those involved in the industry, particularly following 2002 and 2003, which saw double-digit declines in business jet production.
Already this year, the indication is that the sector is picking up. Forecast International said data for the first quarter of 2004 shows that business jet production is up nearly 14% compared with the same period in 2003. However, the pace is expected to slow later in the year.
Predicted
Cessna is predicted to be the market leader in unit production between 2004 and 2013, producing 3,268 business jets - a 30.2% market share. Bombardier comes in second with 1,699 aircraft (15.7% market share), followed by Eclipse Aviation's 1,317 aircraft (12.2% market share). Gulfstream and Raytheon are both predicted to have a 10% market share, producing 1,083 jets each.
In financial terms, Gulfstream is expected to lead the market with production worth $32.8 billion, which equates to a 24.3% market share. Following Gulfstream are Bombardier ($32.5 billion; 24%), Dassault ($22.3 billion; 16.5%) and Cessna ($22.2 billion; 16.4%).
Entry-level business jets, such as the Cessna CJ1/2/3 and Beechcraft Premier 1, were also predicted to be a growth segment over the next 10 years.
TIM SCHWARZ
Source: Flight Daily News
