Posted on February 8th, 2019
While general air travel began to reveal indications of recovery in 2012, increased by solid development in rotorcraft and the agricultural turboprop airplane segment, the slow financial rehabilitation and financial unpredictabilities continued to afflict business jet and multi-engine piston deliveries. Nevertheless, “We see growth in company air travel demand over the long term driven by an expanding U.S. and global economy, particularly in the turboprop, turbine, and jet rotorcraft markets,” the FAA stated in its “Aerospace Forecast for Fiscal Years 2013-2033,” released on Wednesday.
After expanding rapidly for most of the many previous years and then slowing over an earlier couple of years, the business jet market is lastly seeing an end to the problematic impact of the recession, according to the most current aircraft shipment activity, said the FAA. The projection is for durable development in the long-term outlook for company jets, driven by higher corporate profits and the growth of around the world GDP, however at rates lower than those anticipated in 2012. Additionally, continued concerns about air travel, protection, and security delays keep business aviation appealing relative to commercial air flights.