JetNet Foresees Red Hot Bizjet Market through 2020

Research firm’s survey calls for buying bonanza in next decade.

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.

Earlier this year the company launched its JetNet iQ survey of business aircraft operators, taking the 1,000 responses it received and combining the data with product life cycle, market value analysis and other economic indicators, to come up with its forecast. What was somewhat**** surprising about the survey results was the fact that business aircraft operators say they expect to fly a lot more in the coming 12 months, with around 12 percent of respondents noting there is a good chance they will place an order for a new airplane in the next year to replace aging aircraft.

Owners and operators worldwide expect average flight hour utilization to increase year‐over‐year in 2011 and again in 2012, JetNet noted. Based on survey responses, the most optimistic owners and operators for higher flight hour utilization in the coming year are from the Latin America/Caribbean and Asia Pacific regions. Respondents in North America and Europe, while expecting to fly more hours, do not expect hours to increase as fast as do those outside these regions.