Bombardier has substantially downgraded its outlook for the business jet market in its most recent annual forecast, predicting the delivery of 24,000 business jets, valued at $626 billion, over the next 20 years. This is down from last year's forecast of 26,000 deliveries, valued at $661 billion, over 20 years.
The forecast is more upbeat on the commercial airliner market, with predictions for delivery of 13,100 airliners in the 20-to 149-seat sector, valued at $693 billion, through 2030. This is a marginal upgrade from last year's forecast of 12,800 aircraft and is made on the back of better economic indicators and stronger interest in newer, greener technology.
Though both the business and commercial aircraft markets remain depressed because of the ongoing economic slump Bombardier says that business aircraft indicators are improving, even as the commercial aircraft market begins to recover.
It says developing regions, such as China and India, will form important segments of the future market.
New products, according to Bombardier, will be the key to capturing the market when conditions improve. ''Maintaining our focus on new product development, such as the Learjet 85 and CSeries aircraft ... will help us emerge from the recession,'' says Mairead Lavery, Bombardier Aerospace VP-strategy, business development and structured finance.
In its Commercial Aircraft Market Forecast, Bombardier predicts 300 more aircraft will be delivered during the forecast period than last year's outlook suggested with larger-capacity aircraft comprising the bulk of the deliveries.