Embraer Executive Jets has predicted that the total global demand for business jets over the next ten years stands at 9 100 new aircraft worth $259 billion.
Released at the National Business Aviation Association Convention and Exhibition in Las Vegas, Nevada. This represents a Compound Annual Growth Rate (CAGR) of 3% per year over the next 10 years. The analysis foresees that demand is likely to exceed the last decade’s deliveries and market value, when approximately 8 190 business jets were delivered, worth $198 billion.
The new deliveries forecast reflects a higher potential demand coming from the US market as well as a reduction in the demand from emerging markets, Embraer said. The small and medium jet segments are expected to represent the majority of the market, with nearly two thirds of the total deliveries, benefiting mostly from the opportunities out of the North American and European markets.
North America is expected to lead the way with 4 850 jets while Europe and Africa will require 2 100 jets worth $64 billion. The majority of demand will be for large jets (3 400) followed by medium jets (3 280) and light (2 420).