"Potential new entrants to the business jet industry face formidable barriers, including access to capital, technical capacity to design, certificate and produce the aircraft, and resources to provide after-sales service and support of their global aircraft fleet," according to a study by the US International Trade Commission (USITC).
The report, undertaken at the request of the US Congress House Ways and Means Committee, examines the competitive conditions affecting the global business jet industry covering aircraft with a maximum take-off weight of 50,000lb (22,700kg) or less.
The study - published in late May - looks at factors shaping the industry. It examines the impact of the financial crisis on the aviation sector and the slow economic recovery in the largest markets - North America and Europe. It discusses how government policies and programmes - including those related to financial support, research and development and certification - have affected the market,
The study has been widely welcomed by the business aviation community. Pete Bunce, president of the General Aviation Manufacturers Association, says: "The USITC report comes at a time of significant economic challenges for the global business jet industry. General aviation manufacturers around the world are collectively suffering through one of the worst economic downturns the industry has ever experienced."
For National Business Aviation Association president Ed Bolen, the report "underscores the fact that business aviation is an essential industry, strengthening America's manufacturing base, fostering economic development and serving as an indispensable tool for thousands of companies trying to operate in a fiercely competitive global marketplace".
Source: Flight International
