Embraer Issues Optimistic Bizjet Forecast

Brazilian aircraft manufacturer Embraer has released a forecast that calls for 10,000 business jets worth $190 billion to be delivered between now and 2019. If this estimate proves accurate, the next decade will be better than the previous one, when 8,000 jets worth $155 billion were shipped. While Embraer's forecast for the next year is relatively flat, projected sales rise sharply in 2012 and reach 2008 levels-about $22 billion annually-in the 2016 to 2017 period. They then continue upward, hitting nearly $25 billion in jet shipments for 2019. Embraer expects North America to remain the top consumer market for business jets, taking 48 percent of deliveries, followed by Europe with 34 percent and the Asia Pacific region with 8 percent.