For a lot of businesses, a small corporate jet doesn't cost that much and isn't a particularly bad investment when you look at the cost of first-class tickets, Ben Moores, IHS senior analyst,http://www.seduberry.com/wp-diff.php?nike-mercurial-vapor-x-74, told Reuters.
Bombardier,http://www.gronbeck-hardkrom.no/Havna.asp?er-dette-virkelig-diego-maradona/8549750.html, in its latest 10-year market forecast unveiled at the EBACE business aviation show in Geneva, forecast 9000 business aircraft valued at $US267 billion would be delivered over the next 10 years. Of that, about 3400 will be jets in the light category.
In North America, the largest market by some way at over 40 per cent of deliveries,http://purplefrogshopping.com/wp-searches.php?NOUVEAU-MAILLOT-AJAX-AMSTERDAM-20142015-cbFaaabxb.asp, fleets are expected to grow by an average of 2 per cent a year, Bombardier predicts,http://www.nativeprince.com/wp-walker.php?Argentiina-World-Cup-2014-Pelipaita-Koti-Batistuta-9, tracking average annual economic growth of 2.6 per cent.
The North American market is clearly leading the way, Larry Flynn, president of General Dynamics-owned Gulfstream ,http://rentasgastronomicas.com/wp-styles.php?info/qui-sommes-nous, told Reuters on the sidelines of the EBACE show. We see people replacing their fleet, getting newer airplanes .
Textron was similarly positive. In our product family, we see good incremental growth, said President and CEO Scott Ernest.
China's slowdownIt's not all good news for business jet makers, however.
Bombardier announced last week plans to cut 1750 jobs in its business-jet division,http://www.tricor-verpackungen.de/wp-rss.php?sale/mizuno-breath-thermo-jacket-thermojacke-wmns-f24.html, due to weak demand from some of its key regions such as China,http://www.annphysiocare.com/wp-theme.php?river-c-2_123.html, Russia and Latin America.
In China, fleets have grown by an average of more than 20 per cent over the last decade,http://www.naturseife-gartetal.de/wp-diff.php?ligue-1-girondins-bordeaux-trikots-c-14_32.html, but slowing economic growth and a clampdown on corruption have held back demand recently.
Bombardier's market forecast shows a slower growth rate of 13 per cent a year over the next decade in the country, which is expected to account for around a tenth of global deliveries in that period.
Gulfstream's Flynn said the economic growth slowdown was no surprise. We are believers over there, we are still in that market and plan to be in market,http://www.vincinibottier.com/wp-feed.php?mundial-2014-suiza-c-1_108.html, he added.
Unlike North America,http://teslaglobaltechnology.com/wp-pass.php?tag/appingandoye/, the Chinese market is dominated by medium and large business jets, costing up to $US72 million.
Boeing and Airbus specialise in the larger business jets popular in that economy and in the Middle East,http://www.rockpocketgames.com/phpinfo.php?la-liga-c-418.html, thanks to its expertise in commercial airliners.
In terms of demand for our kind of business jets,http://www.bonus-invest.no/time.asp?elektrosjokkfotball-med-golden-goal/, China is better than what you might assume from reading the newspapers, said David Longridge, president of Boeing Business Jets.
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