Meanwhile, How Healthy Are We?
But what about the industry's "visibility and success?" Where does it really stand, how does its current status stack up to earlier years? And, most important, where is it going? Those questions are always in the air at each NBAA convention and this year was not an exception. Enter Rolls-Royce, which this week released a formal prediction for continued growth in business jet deliveries through the remainder of the decade. The company, which not coincidentally sells a very popular line of jet engines, said it forecasts an engine market worth $61 billion over the next 20 years, with the value of medium- and long-range jets dominating. Not all of those new aircraft will be in North America, however.
Rolls-Royce said it expects China, India and Russia to become major players over the period, but still not growing to the size of the markets in Europe and North America. Punctuating the company's findings, Alan Stiley, Rolls-Royce Vice President for Marketing, Corporate and Regional Aircraft said, "The growth trend for business jet deliveries now exceeds the pace of narrow body commercial airliner deliveries. The largest segment in terms of engine value will remain the medium, long-range and ultra long-range aircraft." Rolls-Royce forecasts that 48,000 engines, valued at $61 billion, will be needed over the next 20 years to meet demand for 23,000 new corporate jet aircraft from very light jets through business jetliners.