The Market for
Business Jet Aircraft
2014-2023
PURCHASING CRITERIA The Analysis Includes: 10‐Year Detailed Production Forecasts In‐Depth Overviews of the Principal Market Motivators and Constraints Calculations of Projected Manufacturer Market Shares by Units and Value Why Buy a Market Segment Analysis: Identify Key Growth Opportunities Identify Strategic Partners Identify Merger and Acquisition Targets Track and Follow Key Trends and Critical Developments Receive the Latest Intelligence from Experts with Many Years of Experience These Annually Updated Analyses are Indispensable Tools for Evaluating Market Potential Two Optional Packages Basic Analysis ‐‐ Clients that purchase the Basic option will receive the analysis in PDF format via email. This is a distinct advantage when you need the information quickly to begin working on your project or presentation. Complete Data Package ‐ When you select this option you also receive the basic analysis in PDF form via email. Thereafter, we send to you, via express courier, the complete data package depicted below: Benefits of Upgrading to the Complete Data Package: Receive all Individual Supporting Program Reports* Inclusive of Contractor Information and Program History, with Detailed Forecast Tables and Forecast Rationale for Each Program Receive a CD Containing the Analysis of the Chosen Market & Supporting Reports in MS® Word Receive Full Market Segment Spreadsheet(s) in MS® Excel which Allows Users to Manipulate Data Hard copy of the Analysis Complete with 10‐year Production Forecasts & Chart Package Neatly packaged in an Executive Zipper Case, to Provide a Complete Shelf‐Piece for Periodic Reference Ideally Suited for Top‐Level Presentations Your Most Cost‐Effective Total Solution *Page titled Programs details the reports provided with your Complete Data Package purchase. Civil Aircraft Forecast
Analysis 3
The Market for Business Jet Aircraft
2014-2023
Table of Contents
Executive Summary ................................................................................................................................................. 5
E
Figure 1 - The Market for Business Jet Aircraft
By Market Segment - Units 2014 - 2023 (Bar Graph)................................................................... 6
Figure 2 - The Market for Business Jet Aircraft
By Market Segment - Values 2014 - 2023 (Bar Graph) ................................................................ 6
PL
Figure 3 - The Market for Business Jet Aircraft
By Market Segment - Units 2014 - 2023 (Pie Chart) .................................................................... 7
Figure 4 - The Market for Business Jet Aircraft
By Market Segment - Values 2014 - 2023 (Pie Chart) .................................................................. 7
Introduction ................................................................................................................................................................ 8
Trends ........................................................................................................................................................................ 10
Competitive Environment ..................................................................................................................................... 19
SA
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Table 1 - The Market for Very Light Jet Aircraft
Unit Production by Headquarters/Company/Program 2014 - 2023 ...................................................... 24
Table 2 - The Market for Very Light Jet Aircraft
Value Statistics by Headquarters/Company/Program 2014 - 2023 ...................................................... 25
Figure 5 - The Market for Very Light Jet Aircraft
Unit Production 2014 - 2023 (Bar Graph) ................................................................................... 26
Figure 6 - The Market for Very Light Jet Aircraft
Value of Production 2014 - 2023 (Bar Graph) ............................................................................ 26
Table 3 - The Market for Very Light Jet Aircraft
Unit Production % Market Share by Headquarters/Company 2014 - 2023 .......................................... 27
Table 4 - The Market for Very Light Jet Aircraft
Value Statistics % Market Share by Headquarters/Company 2014 - 2023 .......................................... 28
Figure 7 - The Market for Very Light Jet Aircraft
Unit Production % Market Share 2014 - 2023 (Pie Chart) .......................................................... 29
Figure 8 - The Market for Very Light Jet Aircraft
Value Statistics % Market Share 2014 - 2023 (Pie Chart)........................................................... 29
Table 5 - The Market for Light Business Jet Aircraft
Unit Production by Headquarters/Company/Program 2014 - 2023 ...................................................... 32
Table 6 - The Market for Light Business Jet Aircraft
Value Statistics by Headquarters/Company/Program 2014 - 2023 ...................................................... 33
©2014
December 2014
Page 2
Civil Aircraft Forecast
Analysis 3
Figure 9 - The Market for Light Business Jet Aircraft
Unit Production 2014 - 2023 (Bar Graph) ................................................................................... 34
Figure 10 - The Market for Light Business Jet Aircraft
Value of Production 2014 - 2023 (Bar Graph) .......................................................................... 34
Table 7 - The Market for Light Business Jet Aircraft
Unit Production % Market Share by Headquarters/Company 2014 - 2023 .......................................... 35
Table 8 - The Market for Light Business Jet Aircraft
Value Statistics % Market Share by Headquarters/Company 2014 - 2023 .......................................... 36
Figure 11 - The Market for Light Business Jet Aircraft
Unit Production % Market Share 2014 - 2023 (Pie Chart) ........................................................ 37
Figure 12 - The Market for Light Business Jet Aircraft
Value Statistics % Market Share 2014 - 2023 (Pie Chart) ......................................................... 37
E
Table 9 - The Market for Light Medium Business Jets
Unit Production by Headquarters/Company/Program 2014 - 2023 ...................................................... 39
PL
Table 10 - The Market for Light Medium Business Jets
Value Statistics by Headquarters/Company/Program 2014 - 2023..................................................... 40
Figure 13 - The Market for Light Medium Business Jets
Unit Production 2014 - 2023 (Bar Graph) ................................................................................. 41
Figure 14 - The Market for Light Medium Business Jets
Value of Production 2014 - 2023 (Bar Graph) .......................................................................... 41
Table 11 - The Market for Light Medium Business Jets
Unit Production % Market Share by Headquarters/Company 2014 - 2023 ........................................ 42
SA
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Table 12 - The Market for Light Medium Business Jets
Value Statistics % Market Share by Headquarters/Company 2014 - 2023......................................... 42
Figure 15 - The Market for Light Medium Business Jets
Unit Production % Market Share 2014 - 2023 (Pie Chart) ........................................................ 43
Figure 16 - The Market for Light Medium Business Jets
Value Statistics % Market Share 2014 - 2023 (Pie Chart) ......................................................... 43
Table 13 - The Market for Medium Business Jets
Unit Production by Headquarters/Company/Program 2014 - 2023 .................................................... 45
Table 14 - The Market for Medium Business Jets
Value Statistics by Headquarters/Company/Program 2014 - 2023..................................................... 46
Figure 17 - The Market for Medium Business Jets
Unit Production 2014 - 2023 (Bar Graph) ................................................................................. 47
Figure 18 - The Market for Medium Business Jets
Value of Production 2014 - 2023 (Bar Graph) .......................................................................... 47
Table 15 - The Market for Medium Business Jets
Unit Production % Market Share by Headquarters/Company 2014 - 2023 ........................................ 48
Table 16 - The Market for Medium Business Jets
Value Statistics % Market Share by Headquarters/Company 2014 - 2023......................................... 49
Figure 19 - The Market for Medium Business Jets
Unit Production % Market Share 2014 - 2023 (Pie Chart) ........................................................ 50
Figure 20 - The Market for Medium Business Jets
Value Statistics % Market Share 2014- 2023 (Pie Chart) .......................................................... 50
December 2014
Civil Aircraft Forecast
Page 3
Analysis 3
Table 17 - The Market for Super Mid-Size Business Jets
Unit Production by Headquarters/Company/Program 2014 - 2023 .................................................... 53
Table 18 - The Market for Super Mid-Size Business Jets
Value Statistics by Headquarters/Company/Program 2014 - 2023..................................................... 54
Figure 21 - The Market for Super Mid-Size Business Jets
Unit Production 2014 - 2023 (Bar Graph) ................................................................................. 55
Figure 22 - The Market for Super Mid-Size Business Jets
Value of Production 2014 - 2023 (Bar Graph) .......................................................................... 55
Table 19 - The Market for Super Mid-Size Business Jets
Unit Production % Market Share by Headquarters/Company 2014 - 2023 ........................................ 56
Table 20 - The Market for Super Mid-Size Business Jets
Value Statistics % Market Share by Headquarters/Company 2014 - 2023......................................... 57
E
Figure 23 - The Market for Super Mid-Size Business Jets
Unit Production % Market Share 2014 - 2023 (Pie Chart) ........................................................ 58
PL
Figure 24 - The Market for Super Mid-Size Business Jets
Value Statistics % Market Share 2014 - 2023 (Pie Chart) ......................................................... 58
Table 21 - The Market for Large Business Jets
Unit Production by Headquarters/Company/Program 2014 - 2023 .................................................... 60
Table 22 - The Market for Large Business Jets
Value Statistics by Headquarters/Company/Program 2014 - 2023..................................................... 61
Figure 25 - The Market for Large Business Jets
Unit Production 2014 - 2023 (Bar Graph) ................................................................................. 62
SA
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Figure 26 - The Market for Large Business Jets
Value of Production 2014 - 2023 (Bar Graph) .......................................................................... 62
Table 23 - The Market for Large Business Jets
Unit Production % Market Share by Headquarters/Company 2014 - 2023 ........................................ 63
Table 24 - The Market for Large Business Jets
Value Statistics % Market Share by Headquarters/Company 2014 - 2023......................................... 63
Figure 27 - The Market for Large Business Jets
Unit Production % Market Share 2014 - 2023 (Pie Chart) ........................................................ 64
Figure 28 - The Market for Large Business Jets
Value Statistics % Market Share 2014 - 2023 (Pie Chart) ......................................................... 64
Table 25 - The Market for Long-Range Business Jets
Unit Production by Headquarters/Company/Program 2014 - 2023 .................................................... 68
Table 26 - The Market for Long-Range Business Jets
Value Statistics by Headquarters/Company/Program 2014 - 2023..................................................... 69
Figure 29 - The Market for Long-Range Business Jets
Unit Production 2014 - 2023 (Bar Graph) ................................................................................. 71
Figure 30 - The Market for Long-Range Business Jets
Value of Production 2014 - 2023 (Bar Graph) .......................................................................... 71
Table 27 - The Market for Long-Range Business Jets
Unit Production % Market Share by Headquarters/Company 2014 - 2023 ........................................ 72
Table 28 - The Market for Long-Range Business Jets
Value Statistics % Market Share by Headquarters/Company 2014 - 2023......................................... 72
©2014
December 2014
Page 4
Civil Aircraft Forecast
Analysis 3
Figure 31 - The Market for Long-Range Business Jets
Unit Production % Market Share 2014 - 2023 (Pie Chart) ........................................................ 73
Figure 32 - The Market for Long-Range Business Jets
Value Statistics % Market Share 2014 - 2023 (Pie Chart) ......................................................... 73
Table 29 - The Market for Corporate-Configured Airliners
Unit Production by Headquarters/Company/Program 2014 - 2023 .................................................... 75
Table 30 - The Market for Corporate-Configured Airliners
Value Statistics by Headquarters/Company/Program 2014 - 2023..................................................... 76
Figure 33 - The Market for Corporate-Configured Airliners
Unit Production 2014 - 2023 (Bar Graph) ................................................................................. 78
Figure 34 - The Market for Corporate-Configured Airliners
Value of Production 2014 - 2023 (Bar Graph) .......................................................................... 78
E
Table 31 - The Market for Corporate-Configured Airliners
Unit Production % Market Share by Headquarters/Company 2014 - 2023 ........................................ 79
PL
Table 32 - The Market for Corporate-Configured Airliners
Value Statistics % Market Share by Headquarters/Company 2014 - 2023......................................... 80
Figure 35 - The Market for Corporate-Configured Airliners
Unit Production % Market Share 2014 - 2023 (Pie Chart) ........................................................ 81
Figure 36 - The Market for Corporate-Configured Airliners
Value Statistics % Market Share 2014 - 2023 (Pie Chart) ......................................................... 81
Market Statistics ..................................................................................................................................................... 82
SA
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Table 33 - The Market for Business Jet Aircraft
Unit Production by Headquarters/Company/Program 2014 - 2023 .................................................... 83
Table 34 - The Market for Business Jet Aircraft
Value Statistics by Headquarters/Company/Program 2014 - 2023..................................................... 87
Figure 37 - The Market for Business Jet Aircraft
Unit Production 2014 - 2023 (Bar Graph) ................................................................................. 91
Figure 38 - The Market for Business Jet Aircraft
Value of Production 2014 - 2023 (Bar Graph) .......................................................................... 91
Table 35 - The Market for Business Jet Aircraft
Unit Production % Market Share by Headquarters/Company 2014 - 2023 ........................................ 92
Table 36 - The Market for Business Jet Aircraft
Value Statistics % Market Share by Headquarters/Company 2014 - 2023......................................... 93
Figure 39 - The Market for Business Jet Aircraft
Unit Production % Market Share 2014 - 2023 (Pie Chart) ........................................................ 94
Figure 40 - The Market for Business Jet Aircraft
Value Statistics % Market Share 2014 - 2023 (Pie Chart) ......................................................... 94
Conclusion ............................................................................................................................................................... 95
*
December 2014
*
*
Civil Aircraft Forecast
The Market for Business Jet Aircraft
Executive Summary
The business jet market is currently in the early stages
of recovery. This recovery got underway in 2013, when
annual business jet production registered a slight
increase after having declined for four consecutive years
from 2009 through 2012.
Each of the Big Five established players has at least one
new model in design and development.
The recovery in the business jet market is likely to be
gradual and measured in its pace: a solid, if
unspectacular, recovery. We do not expect the 2008
production level of 1,314 business jets to be reached in
any year of the 2014-2023 forecast period.
The recovery appears poised to strengthen in the next
few years.
Most market indicators are positive.
Economic growth is continuing, however sluggishly.
Corporate profits are strong. Orders for new business
jets are rising, and order backlogs at manufacturers have
stabilized. The inventory of used aircraft for sale is
declining. Flight activity is increasing.
E
In order to facilitate market analysis, we have divided
the business jet market into eight classes. These range
from very light jets at the low end of the market to longrange jets and corporate-configured airliners at the top
end.
To some extent, though, the business jet sector
continues to be a tale of two markets. Demand is quite
strong in the upper tiers of the sector, from the super
mid-size class up through the long-range segment. In
the medium jet class, the picture is a bit mixed but is
nevertheless improving.
However, in the lighter
categories, demand is still somewhat weak.
PL
The Forecast
Forecast International projects that a total of 9,634
business jets will be produced in the 20-year period
from 2014 through 2023. The value of this production
is estimated at $255 billion in constant 2014 U.S.
dollars.
Production is forecast to total 719 units in 2014, and to
steadily increase to 1,136 units by 2020. A two-year
cyclical downturn in production is anticipated for the
2021-2022 timeframe, before build rates rebound in
2023.
SA
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The market for lighter jets is largely concentrated in
North America, the biggest geographic market for
business jets but a heavily saturated market as well.
While economic improvement in the U.S. has been
slow, corporate profits have been robust, allowing
businesses to accumulate large reserves of cash.
Uncertainty over economic and political conditions,
though, has made many of these businesses hesitant to
make large capital acquisitions such as aircraft
purchases.
During the forecast period, the top three manufacturers
in unit production are projected to be Cessna,
Bombardier, and Embraer. Cessna is forecast to
produce 2,363 business jets, representing 24.5 percent
of the market.
The key to unlocking this latent demand in the North
American market is continued economic improvement.
This should serve to strengthen business confidence and
unlock corporate coffers.
Greater transparency
concerning government intentions regarding taxation
and regulations would further boost business
confidence.
Bombardier is expected to build 2,075 business jets
during the forecast period, for a market share of
21.5 percent. Embraer is third, with production of 1,732
aircraft and a share of 18 percent.
The business jet market is strong in most other regions
of the world, with Europe being a significant exception.
But even in Europe, the outlook is improving, as the
worst of the region's recent sovereign debt crisis appears
to be over.
When the market is calculated in terms of monetary
value, the manufacturers of the larger, high-value
business jet types rise to the top of the rankings. In
production value, Gulfstream takes the top spot with
$74.7 billion worth of production, a share of
29.3 percent. In second place is Bombardier, with
$69.7 billion worth of production and a 27.3 percent
share. Dassault is third with a 17.4 percent market share
on production worth $44.5 billion. Cessna, Embraer,
and Boeing take the next three spots.
Fourth, fifth, and sixth places are taken by Gulfstream,
Dassault, and Honda, respectively.
Meanwhile, as they have traditionally done, business jet
manufacturers used the recent market downturn (and the
immediate aftermath) to launch several new models.
*
©2014
*
*
December 2014
Product Code F613
The Market for Business Jet Aircraft
PROGRAMS
The following reports are included in this section: (Note: a single report may cover several programs.)
SA
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PL
E
Airbus A319/320/321
Boeing 737 BBJ
Bombardier Challenger 300/350
Bombardier Challenger
Bombardier CRJ Regional Jets
Bombardier Global 5000
Bombardier Global Series
Cessna Citation Longitude
Cessna Citation X
Cessna Citation XLS/Citation Latitude
Cessna M2/CJ2/CJ3/CJ4
Cessna Mustang
Cessna Sovereign
Dassault Falcon 5X
Dassault Falcon 900/7X/8X
Dassault Falcon 2000
Eclipse Aerospace 550
Embraer 170/175/190/195
Embraer Legacy 450/500
Embraer Legacy 600/650
Embraer Phenom 100
Embraer Phenom 300
Gulfstream G150/G280
Gulfstream G450
Gulfstream G550
Gulfstream G650
Honda Aircraft HondaJet
Learjet 60/70/75/85
Pilatus PC-24
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