Industry Insights

How findings from our 10-year market forecast reflect real-world trends in the private jet market

The annual NBAA-BACE trade show is defined by one thing – an industry-wide interest in, and passion for, aviation.

Which is why Aerion’s announcement – that the first transatlantic supersonic jet since Concorde would soon be taking to the skies – was greeted with such enthusiasm at this year’s show. Aerion announced that the jet is on track to fly in June 2023, with the first transatlantic crossing the same year, 20 years after the celebrated Concorde flew its last.

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The faster-than-sound business jet will undoubtedly be a market disruptor, particularly given its anticipated intercontinental capabilities, which will be a key indicator of its market performance. According to Jetcraft’s new 10-year market forecast, those regions where business needs are increasingly globalized will take the lead in terms of unit deliveries. North America is set to account for 60% of deliveries (5,241 units) over the forecast period, with Europe taking second place at 18% (1,572), and Asia Pacific third at 13% (1,136).

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Forbes.com, November 2018
Story by Bridget Arsenault

With more than 20 offices worldwide and 55 years of experience Jetcraft is one of the true leaders in private aviation. With new jet share companies disrupting the market – creating an Uber-like marketplace in the elite world of private travel, Jetcraft continues to offer its experience and expertise to that top percent looking to purchase a private plane. Having accrued unparalleled industry expertise and understanding of the varied global markets in which they operate, has made Jetcraft a leader in aircraft sales, acquisitions and trades. We spoke with the company’s current owner Jahid Fazal-Karim to understand the nuances behind what he does and how he’s built such a successful company.

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How findings from our 10-year market forecast reflect real-world trends in the private jet market

This year’s NBAA-BACE trade show in Orlando was marked by an industry-wide feeling of confidence.

The show coincided with our fourth annual 10-year business aviation market forecast, which reaffirms the optimism felt by show exhibitors and attendees. According to the forecast, steady growth in the private jet industry is set to continue, with 8,736 unit deliveries representing $271 billion in revenues (based on 2018 pricing) anticipated over the next 10 years.

Now that we’ve successfully navigated through our industry’s most difficult period, OEMs are again using trade shows to make a statement about their place in the industry. In Orlando, Embraer took early news headlines with the announcement of two new aircraft, the Praetor 500 and 600, both of which made their world debut on the hot tarmac of the static display.

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The President of Jetcraft Australia and New Zealand, Mick Doohan, was recently featured in The Australian – Wish Magazine. Doohan spoke about aircraft in Australia, the business case for buying or hiring your own plane, and also how much fun they can be.

Wish Magazine, October 2018
Story by Stephen Corby, portrait bu Vanessa von Zitzewitz

You might think of private jets as the sleek, chic and salaciously expensive playthings of the über-mega-rich, but they’re actually much more than that. According to Mick Doohan – living legend of motorcycle racing, five-time world champion and these days the man you need to talk to in Australia if you want to buy, borrow or sell a personal aircraft – they are also something Dr Who would appreciate.

“It’s a time machine, basically,” Doohan says, chatting by phone from his Monaco home. “Really, what a private aircraft gives you is time: it’s the freedom to fly on your schedule and to save time with things like check-in, and the simple fact that you’re not waiting for the aircraft, the aircraft is waiting for you.

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In today’s global business environment, more and more customers are preferring larger, long-range and ultra-long-range aircraft. Newly launched aircraft programs, or those currently in development, are almost exclusively catering to the rising demand for wide-body models.

The desirability of an ultra-long-range model is evident from its name. These aircraft are desirable tools to facilitate our increasingly globalized world of business.

So, which of these aircraft are worth considering for your next purchase? Here’s a preview of seven new jets scheduled to enter the market within the next five years…

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Gray skies and threatening thunderstorms couldn’t dampen spirits at EBACE 2018 in Geneva. The mood was buoyant and the good feeling that came out of NBAA-BACE in October has clearly extended to Europe, as demonstrated by the show’s big announcements.

The Show Daily publications touted the unveiling of Bombardier’s Global 5500 and 6500 aircraft as ‘business aviation’s best-kept secret’, bringing upgraded options to the super-large and ultra-long-range market segments. Concurrently, Rolls Royce announced its re-entry to business aviation with the Pearl engine that will power the two Bombardier business jets.

Embraer’s press conference saw the announcement that the OEM is to become the first business jet customer for ViaSat’s Ka-band in-flight connectivity service, delivering 16MBps to the aircraft, enabling passengers to stream content and live TV – a bonus for the longer journeys that passengers are making.

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By 2026, Asia is predicted to be tied with North America in terms of ultra-high-net-worth-individual (UHNWI) population, as shown in The Wealth Report by Knight Frank, cited in our 10 Year Market Forecast. As more individuals are buying private aircraft in Asia, an increase in the UHNWI population could cause a boost in demand for the region.

Asia’s promising position in the global business aviation industry has never been more evident than at the 2018 Asian Business Aviation Conference & Exhibition (ABACE). OEMs, operators and industry leaders were abuzz with the opportunities that Asia presents, speaking of new infrastructure, a better attitude towards business aviation and a steadily maturing market.

Overtaking Europe

Jetcraft is no exception when it comes to optimism about the region. Backed by our consistently healthy sales, we have determined that Asia-Pacific is one of the world’s fastest growing markets, accounting for approximately 15% of Jetcraft’s transactions in 2017. This trend has continued into Q1 of 2018, setting a positive projection for the rest of the year.

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The general aviation community in the U.S. is abuzz with discussions of ADS-B and the 2020 deadline. As the mandate draws near, what do you need to know?

First, many aircraft need to be upgraded in order to comply, so it is recommended that flight departments schedule the upgrades now in order to be sure that everything is completed in time to remain compliant. It is estimated that there are 105,000* aircraft that are not yet equipped, so the maintenance shops will soon become overwhelmed.

Next, be sure to make an appointment with a trusted service center that can help figure out what needs to be installed or upgraded, and can complete it in a reliable and timely manner. It is advised that operators check that their ADS-B Out solution is Version 2, particularly early-equipped aircraft that were installed with Version 0 or 1 systems. Complicating the issue is that Version 2 is not currently required for operations in all international regions of airspace, so it is possible that an...

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Insight abounded at the recent Corporate Jet Investor conference in London, with representatives from across business aviation coming together to share their observations on the industry.

Opening the first day of the conference, Jetcraft’s president Chad Anderson set out a confident forecast for the next ten years, hailing it as ‘a new beginning’ for the industry.

“We’re entering 2018 looking at the glass half full,” he announced. “Based on our forecast, I’d say buyer confidence is going to maintain well into a new business cycle – and the optimism should remain until 2024 or 2025.”

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