Describing business jets as "the hottest segment of the aviation industry", Teal Group market analysts predict in a forecast released at the show that almost 4,900 corporate aircraft worth over $62 billion will be produced from 1999 to 2008.
This compares with just over 3,300 business jets worth around $40 billion produced over the last decade.
"After spending the late 1980s and early 1990s in the doldrums, the bizjet market continues to be in the midst of a terrific growth spurt," says Teal Group analyst Richard Aboulafia.
Almost 540 jets worth $7.9 billion will be delivered this year, "and 2000 should be almost as good," he says.
Teal Group predicts that Bombardier will move up to take the biggest market share (26.6%), followed closely by Gulfstream (21%), Cessna (19.7%) and Dassault (17%). Raytheon (9.4%) will be fifth, but will be boosted after 2000 by new models, it says.
"The other business aircraft manufacturers will either remain niche players, or be absorbed by Bombardier, Cessna or Raytheon," Aboulafia predicts.
Teal Group says fractional ownership has clearly increased demand for business jets, but admits it has no way of knowing how big this segment of the market will become. Fractional ownership will soon account for 10% of the worldwide fleet, it says: "This may rise to 15%, or even 25%. We have no way of forecasting this."
Source: Flight Daily News
