Happy 2020. If you have successfully stuck to your New Year Resolutions by the time you have read this, you are already doing better than 87% of the population*.
As is traditional, here is the official Corporate Jet Investor forecast for 2020:
US buyers – helped by the strong dollar – will continue to dominate the market. But demand will tail off after June; as the Presidential Election distracts people. Corporates will continue to want to use business aircraft – but some will not want to own them.
Outside North America, the year will be very similar to 2019 – tough. The Middle East is still in turmoil and may get even worse. Much of Europe is trying to avoid recession. Key African economies like Nigeria and South Africa are grim. There will be no Brexit bounce. China will continue to be a hostile environment. CEOs in Japan may be tempted to buy more aircraft in case they need to get away.
All of aviation – commercial and business – will remain under attack in Europe. Protestors will attempt to disrupt private jets landing for the World Economic Forum. The good news is that we will see electric aircraft and sustainable aviation fuel come a lot closer.
It is no secret that several law enforcement agencies have been investigating several parts of the industry and 2020 will see prosecutions start. This will prompt a lot of discussion about common industry practices.
This all seems a bit grim, but there will be a lot of good things happening in tough markets. The Roaring Twenties took a few years to get going. As Orson Welles said: “In Italy for 30 years under the Borgias they had warfare, terror, murder and bloodshed but they produced Michelangelo, Leonardo da Vinci and the Renaissance.” Business aviation will see a lot of innovation and new ideas in 2020 and we look forward to covering them.
Let’s all raise a glass of green juice to 2020.
*This is not true. I have already broken by New Year’s resolution of not making up statistics.