“There are a lot of new buyers in the marketplace,” said Mark Burns, president of Gulfstream Aerospace. That observation explains the positive outlook maintained by the leadership team at the business aviation OEM—in spite of a soft second quarter and the ongoing prospects of unease in the economy into 2021. The pandemic has taken—in upsets to the company’s supply chain as well as its own operations as it has navigated the year—but it has also given back in other ways. Burns noted that the dramatic change in the playing field during 2020 has acted as “an accelerant for new businesses” with their accompanying need to travel, and to meet with customers and suppliers. And enough of these new entrants to the marketplace have turned to business aviation as a solution to start making up for other losses in the corporate aviation world.
Gulfstream Leadership Looks Forward to 2021
Key Takeaways:
- Gulfstream maintains an optimistic outlook, noting that the pandemic has accelerated demand from new buyers, including first-time purchasers opting for high-end models, helping to offset other corporate aviation losses.
- The company successfully kept its G700 development program on schedule, achieving milestones like five flying test articles and imminent completion entry, despite operational changes due to COVID-19.
- Gulfstream prioritizes sustainability in new designs, aiming for reduced emissions and increased fuel efficiency, while also expecting stable pricing and continued deliveries into 2021.
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