GROWTH INDICATORS

THE BOMBARDIER BUSINESS AIRCRAFT

2015-24 outlook has indicated that Europe will continue to be the second largest market for business jet deliveries after North America. The report said with average economic growth of 1.8 per cent per year and fleet compound annual growth rate of seven per cent, Europe will remain the second largest market for business jet deliveries. The report forecast that Europe will receive 1,525 deliveries valued at $50 billion during this period and that medium and large category aircraft would account for almost 70 per cent of the deliveries.

Europe continues to be on the radar of business jet manufacturers, even while emerging markets are making steady inroads. Despite several challenges, including saturation of some markets, European business aviation market is very much alive and kicking. The European Business Aviation Association (EBAA) has stated that business aviation continues to climb. In 2001 the European fleet consisted of 1,517 aircraft and by 2014, the number had more than doubled at 3,301, demonstrating that this growth has been relatively incremental over the past decade. The Association’s 2015 review of business aviation in Europe has several indicators of growth. The report includes a composite indicator aimed at capturing some of the gains made by the industry. The Revenue per Flight Indicator (RpF) takes