Leading aerospace industry consulting firm, Teal Group, forecast that over 13,030 business aircraft worth $325.6 billion will be delivered to corporate flight departments over the next 10 years. The forecast includes 9,361 traditional business jets worth $262.4 billion; 537 airliners converted for business use as well as regional jet conversions worth a combined $44.1 billion; and 3,132 business turboprops worth $19.1 billion.
The forecast describes a resurgence in corporate aviation, which has been the last segment of the aviation industry to recover from the recession that began in 2006. The pilot shortage among regional airlines has received a lot of coverage, and now Corporate Aviation will need their share of freshly trained pilots coming into the industry which adds to the opportunities available for those interested in aviation as a career.
Teal’s forecast calls for a four-year recovery period starting next year with an average of 9-percent annual growth. At this projected growth rate, deliveries should reach the 2008 peak level in 2016, the consulting firm said.