Next 10 years predicted to outpace previous
decade on both units and revenues.

Jetcraft, the global leader in business aircraft sales and acquisitions, is today releasing its fourth annual 10-year business aviation market forecast.

The annual market forecast reaffirms that steady growth in the private jet industry is set to continue, with predictions of 8,736 unit deliveries over the next 10 years, representing $271bn in revenues (based on 2018 pricing). North America will once again take the lead, accounting for 60% (5,241) of predicted new unit deliveries over the forecast period, with Europe expecting 18% (1,572), and Asia-Pacific 13% (1,136).

Jahid Fazal-Karim, Owner and Chairman of the Board at Jetcraft, says: “2018 has been a real turning point for business aviation, as we have now successfully navigated through our industry’s most difficult period. This year’s forecast predicts the continuation of our current business cycle of steady and healthy growth, driven by an increase in wealth creation and the demand for larger and more expensive aircraft.”

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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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Chris Strong, Senior Vice President, Conventions and Membership, NBAA

How long have you been at your current organization?

This is my 10^th year with NBAA

What are your responsibilities within your organization?

I work within a pretty wide swath of the NBAA team, including primary responsibility for our three large annual conventions, NBAA-BACE (held each year, currently in either Orlando or Las Vegas), EBACE (held annually in Geneva, Switzerland) and ABACE (held each year in Shanghai, China). Additionally, I am responsible for strategic direction for membership and member programs.

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Product Overview

The Global Express is a large cabin, ultra long-range business jet produced by Bombardier. It launched as 1 of 4 new aircraft models built to compete in the new ultra-long range large-cabin market. The Global Express shares the Canadair Regional Jets fuselage cross-section and features an advanced all new supercritical wing with a 35-degree sweep, winglets, and a new T-tail.

As of June 2018, 77% of the Global Express aircraft were purchased pre-owned by their current owners, the other 23% new. 9.5% are for sale with the majority of those (86%) under an exclusive broker agreement. When for sale, the average time on the market is 278 days. Over the past 12 months, the Global Express has averaged 2.3 full retail transactions per month.

Brief History

The Bombardier Global Express (BD-700) was first announced in October 1991 at the NBAA Annual Event as part of a new class of ultra long range large-cabin business jets being manufactured by Bombardier. It was designed to fly long distances at a high speed between any two points on the globe and to need only one refueling stop. The Global Express was officially launched on December 20, 1993 and its first flight was on October 13, 1996. In 1998 it received Canadian (July) and US (November) Certification with first customer deliveries in the first quarter of 1999. A total of 150 Global Express aircraft were manufactured with all but 2 still in operation.

Worldwide Appeal

There are 148 Global Express aircraft in operation today. Most of these are wholly owned (147) with 1 in shared ownership. 13.5% are currently leased. North America has the largest percentage of wholly owned Global Express aircraft (61%), followed by Europe (21%), and Asia (8%).

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Business aviation in Africa is a diverse and evolving market, and this year’s Africa Aerospace & Defence (AAD) exhibition is the ideal place to demonstrate its potential.

Nobody understands this better than Danie Joubert, Africa’s Vice President of Sales for Jetcraft. After two decades spent traveling the continent, Joubert’s market expertise is unsurpassed. Joubert embodies the local feel in a global network that makes up the company’s philosophy.

“Just one year since setting up a dedicated resource in South Africa, Jetcraft has brought global connectivity to the continent,” he says. “One example is how African aircraft sellers now have options on their doorstep, rather than needing to contact US or European brokers.”

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Product Overview

The Citation VI is a continuation of the Citation III model, which was designed for optimal speed and utilized lightweight composites and smooth surfaces to cut down on drag. It can climb quickly to flight level and can cruise at a speed of 469 knots.

As of June 2018, 94% of Citation VI aircraft were purchased pre-owned by their current owners, the other 6% new. 19.4% are for sale with more than half of those (71%) under an exclusive broker agreement. When for sale, the average time on the market is 441 days

Brief History

Designed as a more economical version of the Citation III, the new Citation VI model delivered lower operating costs plus good speed and range capabilities. It was equipped with a basic standardized avionics package and a generic cabin interior without the option of custom interiors. Unlike the digital autopilot of the Citation III, the Citation VI uses an analog version to cut cost and weight. The Citation VI was delivered in April 1991 and was discontinued in May 1995. A total of 38 Citation VI aircraft have been manufactured with 36 in operation worldwide.

Worldwide Appeal

There are 36 Citation VI aircraft in operation today. Most of these are wholly owned (34), with 2 in shared ownership. None are currently leased. North America has the largest percentage of wholly owned Citation VI aircraft (74%), followed by Europe (9%) and Asia (9%).

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Eric H. Roth, President, International Jet Interiors

How long have you been at your current organization?

I started International Jet Interiors 32 years ago – November 5, 1986.

What are your responsibilities within your organization?

As President, I touch on every facet of our organization and I remain personally involved from the initial bid through the final delivery. I am very “hands on” and active in the development and daily activities of the company.

Describe a typical day or week in your role.

I am in the office by 8am daily and meet with my operations team to attain updates on all current projects. From there I work with my front office on design, engineering, finance, strategic growth, marketing and sales – finalizing quotes and speaking with brokers and clients. To break up the day, I walk through our shops and hangar multiple times to inspect our work, talk with our highly-talented employees and to ensure that we deliver an extraordinary experience and quality completion for our clientele.

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Matt Potts, former Corporate Counsel, Jetcraft
Location: London, UK

How long have you been at Jetcraft?

I have been with Jetcraft about ten months – since July of 2017

What are your responsibilities within the global Jetcraft team?

As Corporate Counsel my role is to work with the sales team to manage the legal aspect of our aircraft transactions. I just moved to London and my focus is to support our EMEA sales team. That includes drafting and reviewing agreements, advising on the risks that may be involved in a specific transaction, and making sure that the closings occur on time and efficiently. I am also handling the general legal matters for the office here in the UK as well.

Describe a typical day or week in your role.

Part of what I like about working in our industry is that there really aren’t typical days. My goal everyday is to make sure that I am never the person that is holding up a deal. Whatever I need to do in a given day to make sure that is the case, is what I will end up doing.

What do you love most about your job?

As with a lot of people in aviation, I grew up just loving planes and I always wanted to work in the industry. As a kid, I thought that would lead me to be an aeronautical engineer, and then that evolved into me wanting to be a commercial airline pilot. I ended up in law school with a pilot’s license and an undergraduate degree in engineering. Now, I get to come to work every day and talk about planes while using every bit of my education.

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