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Forcast Sees Better BizAv Prospects
Nov 19, 2009
Benet Wilson This e-mail address is being protected from spambots. You need JavaScript enabled to view it |
Dubai Airshow - Dassualt Falcon, Airbus, Boeing, Cessna, Hawker-Beechcraft, Gulfstream, Embraer
A new report released yesterday by Connecticut-based Forecast International says business aviation will produce 11,277 business jets, worth an estimated $197 billion, between 2009 and 2018.
Aircraft production is expected to total approximately 825 units in 2009, followed by 738 units in 2010 and 716 in 2011, said the report, entitled "The Market for Business Jet Aircraft." Annual production is projected to rise in 2012, however, and continue improving through the remainder of the forecast timeframe.
The bad economy and collapse of financial markets caused an industry that had seen several years of tremendous growth come to a sudden halt in late 2008, said the report. "New orders dwindled to near zero; scheduled deliveries were deferred, and cancellations began eating into sizable order backlogs. In response, business jet manufacturers slashed production rates," it said.
READ MORE: AviationWeek.com
Photo Credit: Mike Vines
