Global Market For Regional Aircraft Worth $528 Billion US
Bombardier Aerospace released its annual aircraft market
forecasts for the business and commercial aircraft markets on
Wednesday, stating worldwide demand will help compensate for the
expected decline in the US market for regional and business
aircraft.
"As we transition to a more international customer base that
features less emphasis on the US, as well as a structural shift
towards larger and more cost-effective aircraft, Bombardier's key
product families -- business jets and regional aircraft -- are
expected to continue to generate strong interest across all
markets," said Mairead Lavery, Vice-President, Strategy and
Business Development, Bombardier Aerospace. "With its comprehensive
portfolio of business and commercial aircraft that encompass
state-of-the-art technologies and innovative design solutions, and
its focus on customer services, Bombardier is well positioned for
the future."
In the 10-year period from 2008 to 2017, Bombardier's Business
Aircraft Market Forecast predicts that business aircraft
manufacturers will deliver a total of 1,320 business jets annually
in all segments it competes (from light to corporate airliner
segments), a substantial increase from the industry average of over
620 business jet deliveries annually during the 1998 to 2007
period.
The total forecasted 13,200 deliveries over the 10-year period
represent revenues of approximately $300 billion US for the
industry.
Despite strong concerns over a possible downturn in the US and
world economies that could create a decrease in overall orders over
the next two years, Bombardier believes industry deliveries should
keep increasing until 2017. In addition, based on the important
surge in orders over the last few years and manufacturers' solid
backlogs, the business aircraft industry is expected to maintain
its positive trend in deliveries.
According to Bombardier's Commercial Aircraft Market Forecast,
demand for 20- to 149-seat commercial aircraft is expected to reach
approximately 12,900 new aircraft in the 20-year period from 2008
to 2027, an increase in demand from last year's forecast.
Forecasted demand is valued at approximately $528 billion US.
The trend towards larger aircraft, coupled with sustained higher
fuel prices, will reinforce operators' requirement for modern
aircraft with low operating costs, according to Bombardier.
One in every three commercial flights worldwide are on regional
aircraft, Bombardier notes. Increasingly, airlines are also looking
"back" towards turboprop aircraft, such as Bombardier's own Q400,
to fly routes more economically than their RJ brethren.