Mid-size and large business jet market growing, says research

A recently released research report shows growth in the markets for mid-size and larger business jets. Terry Spruce’s 5 June 2017 news article published at the Corporate Jet Investor website states that a research report published by Global Jet Capital “reveals that 27% of the 1,742 private jets in Europe are midsize, large and jet airliners based in the UK and Germany.”

A further breakdown of the report shows that the UK’s 255 aircraft is the largest distribution, followed by Germany with 209 aircraft, according to Spruce. Europe’s number of mid-size to large jets is particularly high when compared to corresponding markets in other regions. As Spruce reports, about “41% of Europe’s fleet of business aircraft is mid to large cabin, a significantly higher proportion that in the global fleet, where the corresponding figure in 32%.”

Positive outlook

The research report says that the European business jet market is signalling favourable short-term to medium-term growth prospects. Spruce quotes Global Jet Capital’s European Sales Director, Mathias Müller, as saying: “The European private jet market has been subdued for a number of years now, but the economic outlook is improving in the region, and if this can be sustained over the long-term, it should have a positive impact on the corporate aviation sector.”

Economic progress

Stable economic growth rates in most European countries are also contributing to the encouraging outlook in this particular segment of the private aviation market. Mid-size to large jets are performing well in Portugal, Russia and Austria as a result of improving economic conditions. Spruce quotes Global Jet Capital’s Director of Sales for Northern Europe, Graeme Shanks, as adding: “The improving economic environment in Europe, coupled with the fact that there are over 1,000 mid to heavy jets in the Continent, means we have an increasingly positive outlook on this market.”