Research Firm Predicts Rebound for Business Jet Market

The business jet field may be struggling at the moment, but the next decade looks promising, according to Forecast International, a research and analysis firm in Newtown, Conn. In a newly issued study, the firm predicts that manufacturers will produce 11,277 business jets, worth $197 billion, in the 10 years from 2009 through 2018. Production will initially decline-from about 825 jets in 2009 to 738 in 2010 and 716 in 2011-but it will rise from 2012 through 2018. During the decade covered by the study, said Forecast International, the top three manufacturers ranked in terms of unit production will be Cessna, Embraer and Bombardier. In terms of monetary value of production, Gulfstream will be number one, followed by Bombardier and Dassault. The report did acknowledge several stumbling blocks: "Market saturation remains a problem, especially in the North American market, where large numbers of relatively new business jets reside in operators' fleets," according to Forecast International senior aerospace analyst Raymond Jaworowski. "In addition, buyer hesitation is exacerbated by concerns over fuel and insurance costs and governmental regulations."