Business aviation led the aerospace industry’s recovery from the post 9/11 recession and it may be flying in that direction this year.
Global shipments of business jets, turboprops and piston-engined planes dropped 11 per cent to 2,015 aircraft last year from 2009 and were less than half the peak year 2007’s 4,270 aircraft, says the General Aviation Manufacturers Association in Washington.
Turboprop deliveries were down 18 per cent to 363, business jets fell 12.3 per cent to 763 and small piston-engined planes 7.7 per cent to 889. GAMA represents North American, European and other general aviation manufacturers and its numbers are based on members’ data. In dollar value of shipments, Bombardier Inc. maintained its narrow lead over Gulfstream.
The world economy is growing again after the 2008-09 recession, corporate profits are improving and aircraft utilization rates are rising, GAMA says. “General aviation is an expanding pie and manufacturers are in it for the long term with many new products and innovations,” CEO Peter Bunce said.
Despite the recession’s overhang, the total value of shipments rose 1.2 per cent last year to $19.7 billion U.S. to make 2010 the third-best year on record. Large long-range business jets led the way.
Source: MONTREAL GAZETTE