Jetcraft forecasts 7,879 deliveries over the next 10 years
Jetcraft has released a new 10 year business jet delivery forecast, covering the years 2016 to 2025.
The company is forecasting there will be a total of 7,879 deliveries worth over $248 billion during the period.
North America is expected to solidify its position as the leading market business aviation market, with Jetcraft forecasting 60% of all business jet shipments will go into the region. The gains in North America are largely at the expense of Latin America, where the forecast of 5% of all deliveries is a big drop from the 9% predicted in 2015.
Jetcraft’s rational behind the drop is an outpouring of Ultra High Net Worth Individuals from faltering emerging economies. This has affected the outlook for Asia Pacific as well, with the forecast dropping below 1,000 units to 789, a 2% downward correction.
Both of these drops are larger than the 1% dip in deliveries that are predicted to Russia and the CIS, where total deliveries are expected to reach 315. Although it is difficult to know how many aircraft are currently in the country, 315 deliveries will roughly double the size of the fleet.
“Last year, we highlighted the unpredictability of our industry since 2008, and the impact of global events during the past 12 months have certainly continued this trend,” said Jahid Fazal-Karim, chairman, Jetcraft. “As global factors continue to influence the business aviation market, we are uniquely positioned—through our 20+ offices worldwide—to qualitatively test our forecast’s assumptions and the impact of these global factors on the ground, providing a cumulative view that joins our analysis with real-world business transactions,”