MONTREAL, 17 June 2013. Worldwide business aviation demand will be for 24,000 business aircraft worth about $650 billion between 2013 and 2013, according to the Bombardier Aerospace Business Aircraft Market Forecast released Friday in anticipation of this week's Paris Air Show in Le Bourget, France.
About 9,800 business aircraft deliveries, worth $269 billion, will be made in the general aviation market during the 2013 to 2022 period, and 14,200 aircraft, worth $381 billion, will be delivered from 2023 to 2032, Bombardier analysts say.
As confidence returns to world markets, business aircraft orders and backlogs will expand and deliveries will grow. While business jet orders and deliveries for 2013 are expected to be comparable to those of 2012, Bombardier forecasts that they will begin to improve in 2014 and that the industry will surpass its prior delivery peak year of 2008 by as early as 2016.
Bombardier analysts predict that with demand for business jets shifting towards emerging markets, the fleet of large and medium category aircraft will grow, with the large aircraft category demonstrating the fastest growth.
Over the forecast period, Bombardier predicts North America will receive the greatest number of new business jet deliveries between 2013 and 2032, followed by Europe which, despite its continued economic challenges, remains the second largest market.
China is forecast to become the third largest region in terms of deliveries over the next 20 years with 1,000 deliveries from 2013 to 2022, and 1,420 deliveries from 2023 to 2032. Bombardier also expects key growth markets including Brazil, India, Russia, the Commonwealth of Independent States (CIS), Mexico, and Turkey to receive a significant share of business jet deliveries during the next 20 years.
Bombardier analysts point out challenges facing the business aviation sector, which include rising fuel prices and increased environmental awareness. the company is banking on its the Global 7000, Global 8000, Learjet 70, Learjet 75, Learjet 85 and Challenger 350 jets to serve the business aviation market.
For more information contact Bombardier Aerospace online at www.bombardier.com.