Jetcraft Releases Fourth Annual 10-Year Market Forecast
Jetcraft, the global leader in business aircraft sales and acquisitions, is today releasing its fourth annual 10-year business aviation market forecast.
The annual market forecast reaffirms that steady growth in the private jet industry is set to continue, with predictions of 8,736 unit deliveries over the next 10 years, representing $271bn in revenues (based on 2018 pricing). North America will once again take the lead, accounting for 60% (5,241) of predicted new unit deliveries over the forecast period, with Europe expecting 18% (1,572), and Asia-Pacific 13% (1,136).
Jahid Fazal-Karim, Owner and Chairman of the Board at Jetcraft, says: “2018 has been a real turning point for business aviation, as we have now successfully navigated through our industry’s most difficult period. This year’s forecast predicts the continuation of our current business cycle of steady and healthy growth, driven by an increase in wealth creation and the demand for larger and more expensive aircraft.”
The increase in wealth creation over the past decade has spurred growth in family offices that are now offering a wide variety of specialized services, including business aviation. Together with the increase in block charter and fractional programs, this is exposing more UHNWIs to the industry than ever before.
However, despite continued economic growth, Fortune 500 companies have yet to return to historical aircraft transaction levels, due to maintaining a focus on other financial priorities, such as share buybacks and paying down debt. This customer segment is unlikely to restart aircraft purchasing programs until well into the cycle.
The forecast predicts that the large jet category, comprising super large, ultra long range and converted airline segments, will constitute 32% of total units (2,778) and 64% of total revenue over the next decade. All new aircraft model programs, both announced and projected, during the forecast period are exclusively widebodies.
Fazal-Karim adds: “Predicted unit deliveries in the large jet category account for a huge proportion of total revenues in the industry, demonstrating the trend towards larger, long range aircraft to support today’s global business needs.”
While the industry is set to embark on a period of substantial growth, its resilience during the challenges of the previous business cycle has prepared it well for expansion.
Fazal-Karim concludes: “We’re confident that the lessons we’ve learned over the past decade will ensure sustainable growth for business aviation in the years to come. Ours is an enduring industry, and one with a buoyant future ahead.”
Jetcraft’s full 2018 10-year Business Aviation Market Forecast is available to download at https://www.jetcraft.com/knowledge/market-forecast. Report graphs available for publication on request.
High-resolution images and interviews available
Telephone: +44 (0)1483 447380
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Preeminent Tax Practitioner Yash Rupal to Join Simpson Thacher in London21.2.2020 13:00:00 EET | Press release
Simpson Thacher & Bartlett LLP announced today that Yash Rupal will join the Firm as a Partner in its London office where he will be a part of its global Tax Practice. He currently heads the London Tax Group at Linklaters. Yash represents a broad range of U.K. and international corporate clients, financial institutions, investment funds, hedge funds, asset managers and their respective executives on complicated, often cross-border, mergers and acquisitions, investment fund planning and tax planning matters. He also advises extensively on tax disputes, tax litigation and HMRC enquiries. “We are delighted to welcome Yash to Simpson Thacher,” said Bill Dougherty, Chairman of the Firm’s Executive Committee. “With more than 30 years of experience advising many of the world’s leading asset managers and financial institutions, Yash is widely regarded as one of the most preeminent tax practitioners in London. He will expand our tax capabilities for clients with interests in the U.K., continent
Tej Kohli Foundation Seeks to Incubate New Projects That Can Eliminate Corneal Blindness By 203521.2.2020 11:00:00 EET | Press release
The Tej Kohli Foundation is to establish a new incubator to provide seed and acceleration funding to projects with the potential to help eliminate corneal blindness worldwide. Funding, practical resources and intellectual capital will be available to both commercial and non-commercial projects that have a clear path to the prevention, treatment and cure of corneal blindness; with funding decisions based on the magnitude of the total impact that a project will likely have in poor and underserved communities worldwide by 2035, as well as the likelihood that a project will succeed. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200221005010/en/ Mrs. Gurujalli Tejavathi outside her home in the Bhadradri District in India. Mrs. Tejavathi receives free eye care for a previously transplanted cornea from the Tej Kohli Foundation. (Photo: Business Wire) The Tej Kohli Foundation continues to build its position as a multi-disciplinary
Advanced Bionics Announces Voluntary Field Corrective Action of The HiRes Ultra / Ultra 3D Cochlear Implant21.2.2020 05:23:00 EET | Press release
Advanced Bionics (AB), a global leader in developing advanced cochlear implant systems, announced today that it has begun notifying regulatory authorities that it will voluntarily initiate a field corrective action related to the initial version of HiRes Ultra and Ultra 3D cochlear implant devices due to a decrease in performance experienced by a small percentage of recipients. AB’s priority is to ensure that all cochlear implant recipients and health care providers have the information they need to understand this situation and that they receive the necessary support. Existing recipients of HiRes Ultra and Ultra 3D may continue to use their device as normal. If recipients experience issues of hearing degradation they should visit their audiologist or other health care provider. In addition, we will begin the notification process for device recipients worldwide, where allowed, to make them aware of the potential issue. This voluntary action is being taken in an abundance of caution in
O-RAN Alliance Continues to Grow as Global Operators and Suppliers Reach Across Borders to Collaborate on Open Innovation in Radio Access Networks20.2.2020 21:45:00 EET | Press release
The O-RAN Alliance continues to gain momentum in enabling the Radio Access Network (RAN) industry to deliver intelligent, fully interoperable, virtualized and open RAN. This global collaboration represents a unique willingness to reach across borders and create new platforms that will drive innovation for everyone. Two years ago, 5 mobile carriers spanning the continents of Asia, Europe, and North America joined forces to launch the O-RAN Alliance as “a world-wide, carrier-led effort to drive new levels of openness in the radio access network of next generation wireless systems.” A year later, nearly 80 participating companies released O-RAN’s first specification and technology demos. Nine new operators have joined the O-RAN Alliance in 2019 and 2020, including Bell Canada, BT, Chunghwa Telecom, DISH Network, KDDI, SoftBank Corp., Sprint and Vodafone. Now with over 160 companies (including 24 mobile operators across 4 continents), O-RAN is governed by a global board spanning 4 continen
BreezoMeter Wins Prestigious EU Horizon 2020 Grant to Advance Air Quality Research20.2.2020 20:35:00 EET | Press release
BreezoMeter, leading provider of air quality data, has won sought after funding & endorsement from the EU’s Horizon 2020 Research & Innovation programme. The research will focus on understanding air quality health impact & improving forecast methods. Horizon 2020 is the biggest EU Research & Innovation programme, with nearly €80 billion of funding over 7 years. It’s the financial instrument of the ‘Innovation Union’, designed to secure Europe’s future global competitiveness. The grant is awarded to those demonstrating world-class science and industrial leadership. The prestigious grant was awarded for AQ-Watch (Air Quality: Worldwide Analysis & Forecasting of Atmospheric Composition for Health). The project received funding from the European Union’s Horizon 2020 research and innovation programme under EC grant agreement No 870301. The project is led by the Max Planck Institute for Meteorology, Hamburg, Germany - and coordinated by Prof. Dr. Guy Brasseur and Dr. Gabriela Adler, BreezoMe
EUV Photoresist Pioneer Inpria Raises $31 Million in Series C Funding Led by JSR Corporation20.2.2020 15:00:00 EET | Press release
Inpria, a pioneer in high-resolution metal oxide photoresists for extreme ultraviolet lithography (EUV), today announced that it has secured $31 million in Series C funding from a broad syndicate representing leaders from across the semiconductor manufacturing ecosystem. This financing was led by photoresist manufacturer and existing investor, JSR Corporation. New investors included SK hynix Inc. and TSMC Partners. The round also included participation from existing investors Air Liquide Venture Capital ALIAD, Applied Ventures, Intel Capital and Samsung Venture Investment Corporation. “Inpria is the world leader in metal oxide photoresists for advanced EUV lithography process,” said Mark Slezak, President of JSR Micro and new Inpria Board Director. “We are excited to expand our partnership with Inpria as we collaborate with them on quality and overall market acceptance.” Comprised of tin-oxide nanoclusters, Inpria photoresists deliver higher resolution with building blocks a fraction t
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom