Research and Markets has published a new report – Global Business Jet Market – 2019-2028 – Market Dynamics, Competitive Landscape, OEM Strategies & Plans, Trends & Growth Opportunities, Market Outlook.
The report finds that the global business jet market is resilient, despite challenges, with new product introductions, reinforcement of presence across key markets and regions and services portfolio expansion for industry OEMs.
According to the report, order intake and aircraft deliveries by the industry OEMs improved for 2018, with the book-to-bill ratios across OEMs reaching parity level accompanied by amelioration in order backlog position along with stabilisation of inventory and prices in the used jet market. The report found that aircraft utilisation levels across most operators and users were stable, driving aircraft service and aftermarket activity.
Regulatory mandates, including the FAA’s upcoming ADS-B requirement and other aircraft upgrades, are likely to drive aircraft modernisation and upgrade activity over the near term as well as driving some replacement demand.
The report found that new business jet programmes, led by Gulfstream’s G500 and Bombardier’s Global 7500, are likely to stimulate demand growth over the near term. It also stated that the market dynamics for business jets face transformation with the era of supersonic business jets likely to become a reality towards the middle 2020s. A number of industry OEMs are working on the development of supersonic business jets.
Developments on the urban aerial mobility front could also present a key challenge to the traditional general aviation segment in future, particularly the light business jet segment.
The report also said the industry’s expectation for growth from the typical range-bound movement is likely to be missed in 2019, with the recent onset of trade wars posing a threat to the ongoing global economic recovery and the spike in global crude oil prices and input costs putting pressure on profitability.
