Analysts Predict Growth in Business Jet Market Despite Increases in Operating Costs
Analysts from Research & Markets have forecast that despite increased operating costs, the Business Jet Global market should grow at an average annual rate of 9.4% over the four-year range of 2012-2016, in their new report ‘Global Business Jet Market 2012-2016’.
They attribute the market growth to a couple of factors including the rise in the number of global billionaires and an increasing demand from the emergence of certain economies, however there are concerns that increased operating costs could challenge this growth.
It is noted that in 2012, 28% of growth was attributed to emerging economies and could rise to 40% by 2030.
Companies such as Bombardier Inc, Dessault Aviation and Gulfstream Aerospace Corp. may dominate the market, with other vendors mentioned being; Airbus SAS, Embraer, The Boeing co and Hawker Beechcraft will all benefit from the growing order backlogs as growth is propelled by the major owner-operator segment of the market – billionaires.