Steady Growth in BizAv Market

Industry analysts appear to be upbeat about the business aviation market, both new and used business jets. Here’s a breakdown of the factors supporting this position:

  • Lower used business jet inventory and 5.7% growth in pre-owned jet transactions from November 2011 to November 2012
  • Record corporate profits
  • Higher aircraft use
  • Extension of U.S. 50% bonus depreciation on business aircraft. This incentive can apply to aircraft under contract by Dec. 31, 2013, but not put into service until 2014.
  • Regional airports seeing large increases in general aviation flights (example: Long Island MacArthur Airport reports 33% increase in private plane flights in 2012 compared to 2011)
  • Especially strong December 2012 for Bombardier (11 contracts for Learjet 75 and Global 6000)

Things are looking up for the private jet market, which is a good thing. Aviation is a significant part of the U.S. economy; it’s not simply a luxury market. The business aviation sector has far-reaching, significant effects:

  • Employs 1.2 million skilled, high wage jobs
  • Inserts $150 billion in U.S. economy every year

2013 promises to bring increased improvement in business aviation. It’s about time!

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