Tag: Business Jet

Strong Growth Ahead for Business Aviation Per Honeywell Forecast

Flying Magazine reports, this week the annual Honeywell Global Business Aviation Outlook was released, “predicting strong and stable growth in the industry for the next five years. The forecast also predicts demand for 8,500 new business aircraft worth $280 billion during that period, up a little from earlier forecasts and prompting some manufacturers to ramp up production. At the same time, customer demand has leveled off, suggesting a more balanced market is taking hold, according to the survey.”
Full Story (Flying Magazine)

Business Jet Deliveries Forecasted to Rise 17% This Year

Aviation International News reports, “Deliveries from the top-five business jet OEMs are forecast to jump by 17 percent from an estimated 575 in 2023 to 670 deliveries in 2024, according to investment research firm Jefferies.” This would top “the 652 delivered in 2019, according to the analyst.” Driving “this growth are new programs – including Gulfstream’s flagship G700, which is anticipated to soon enter service, and Dassault Aviation’s Falcon 6X – along with an easing of the supply-chain headwinds, Jefferies added.”
Full Story (Aviation International News)

Dassault Falcon Jet Announces $100M Expansion in Little Rock, Arkansas

The AP reports that on Tuesday, Dassault Falcon Jet “announced a $100 million expansion of its facility in Little Rock that the jet manufacturer said will add 800 new jobs. Dassault announced it had selected Little Rock for the expanded completion center for the development and delivery of its new Dassault Falcon 6X business jet and future Falcon programs. The company already has 1,400 workers at its two facilities in Little Rock.”
Full Story (Associated Press)

Dassault’s First Falcon 6X Business Jet Enters Service

Aviation International News reports Dassault announced that on November 30, the company’s “Falcon 6X began flying for its new owner. … Dassault did not reveal the identity or location of the 6X launch customer.” The 6X, with a maximum range of 5,500 nm, was launched in February 2018 “after the 5X program was canceled due to problems with the in-development Safran Silvercrest engine. The 6X is 20 inches longer than the 5X, to accommodate the 6X’s more powerful Pratt & Whitney PW812D engines.”
Full Story (Aviation International News)

Used Business Jet Inventory Up 59% Year Over Year, Data Show

Aviation Week reports Jefferies data reveal “the number of used business jets for sale in April 2023 increased 59% year-over-year (YOY) and was up 4% when compared to March levels.” Used inventory on the market “is equal to 3.6% of the total fleet, below a five-year average of 5.6%,” even as pricing “is up 15% compared to April.”
Full Story (Aviation Today)

Business Jet Manufacturers Face a Number of Challenges

Aviation Week reports, “Business aircraft manufacturers face a number of challenges and threats, including flight shaming, workforce shortages, along with supply chain and FAA issues leading to production and regulatory delays.” These issues are particularly untimely with the increased passenger demand for air travel, and it makes for a difficult business environment. It is more challenging for businesses to expand with such issues affecting growth infrastructure.
Full Story (Aviation Week)

Business Jet Prices Increase

Aviation International News reports that the estimated valuation of preowned business jets “is up 4 percent from February 2021.” The aircraft valuation “is based on average selling price adjusted for typical premiums and/or discounts, age of aircraft, upgrades, engine plans, and usage, providing an estimate for what the sales price of an aircraft should be.” Asking prices are “up 13 percent over the average fleet valuation.”
Full Story (Aviation International News)