Business jet industry ‘set to boom’

Aircraft company Hawker Beechcraft Corporation (HBC) has carried out research on the European jet industry, with findings showing that the aging business jets in circulation will soon need replacing.

Despite the harsh economic conditions this will likely lead to an uplift in sales. In Europe the average age of business jets are 13.2 years old, and a staggering 17% of the fleet are over 30 years old. Figures for the UK specifically show an even older (although the second largest) fleet.

HBC’s Europe, Middle East and Africa president Sean McGeough said: “This analysis highlights just how old many business aircraft in Europe are, with one in six at least 30 years old. Many of these aircraft will be less economically and environmentally viable than new aircraft so we anticipate seeing a significant number of aircraft retirements over the next few years.

“The industry has made a huge investment into delivering greater fuel efficiency for business aircraft. Newer aircraft not only have more efficient engines but are more aerodynamic and lighter.”

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