JetNet Foresees Red Hot Bizjet Market through 2020

Stephen Pope

Wednesday, June 29, 2011 at 11:23 PM ET

Verified

Key Takeaways:

JetNet's first-ever 10-year business jet delivery forecast predicts a significant surge in demand, with 11,476 new business jets worth $258 billion expected by 2020.
The forecast is based on their JetNet iQ survey of 1,000 operators, which revealed that respondents expect increased flight utilization in the coming year.
Approximately 12% of surveyed operators anticipate placing an order for a new aircraft within the next year to replace aging models.
Optimism for higher flight hour utilization is strongest among operators in the Latin America/Caribbean and Asia Pacific regions.

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Mirroring the conclusions of several other recent industry forecasts, the results of a business aviation market survey conduced by JetNet, a Utica, New York-based research firm, predict a surge in bizjet demand in the next decade.** **

JetNet has released its first-ever 10-year business jet delivery forecast, predicting worldwide deliveries of 11,476 new business jets worth $258 billion through 2020. The figures are generally in agreement with other such forecasts released in recent months by industry heavy-hitters Bombardier, Embraer and Honeywell.