Post published:22/05/2023
Post category:Latest Member News
Reading time:3 mins read

Five-Year Outlook Points to Steady Growth After Record-Setting Demand Cools

Forecast Projects $195 Billion in Total Transaction Volume Over the Next 5 Years

Danbury, CT – May 22, 2023 – Global Jet Capital, a global leader in financial solutions for business aircraft, released its annual Business Jet Market Forecast today. In the updated report, the company projects continued growth for the next five years. The forecast also contains insights and projections for the business aviation market through 2027, including breakdowns of new deliveries and pre-owned transactions. The high level of detail in the report is based on outputs generated by Global Jet Capital’s proprietary transaction forecast model.

“As expected, we have seen a leveling off from the unprecedented demand that our industry experienced post-pandemic, but looking ahead, we see a steady growth pattern for both new and pre-owned aircraft. Most OEMs have strong backlogs and should see improvements in supply-chain challenges that limited deliveries in 2022 and so far in 2023. Pre-owned transactions continue to return to rates more in line with historical trends and are expected to pick up in 2024 and beyond to reflect increasing demand from new aircraft models,” Andrew Farrant, Chief Marketing Officer, stated.

Based on its econometric top-down model, Global Jet Capital projects $195 billion in total transaction volume of new and pre-owned transactions between 2023 and 2027, with a compound annual growth rate of 3.1 percent during that time.

In the report, the company forecasts that deliveries of all size categories will increase during the period, but heavy long-range jet demand should increase at faster rates than other sizes as demand favors more international travel. North America is expected to remain the largest business jet market over the next five years, with Europe remaining the second largest market. Latin America is also forecasted to continue its important pre-owned market interest.

Global Jet Capital believes that the projections contained within the forecast are a useful tool for individuals and organizations navigating the business aircraft industry. To download the Market Forecast, visit: https://www.globaljetcapital.com/forecast-2023

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Paul Cremer

My name is Paul Cremer, and this marks my 42nd year working within the business and general aviation industry. Over this time, I’ve had the privilege of overseeing a diverse array of sector activities, ranging from aircraft charter and management to air ambulance services, ground operations, air traffic control, airport management, technology implementation, and the outsourcing services I currently manage.

In my role focused on delivering advisory, technology, and outsourcing services to aviation customers, I handle a wide spectrum of responsibilities. This includes overseeing International Trip Support, Operations Control Centre Services (OCC), Continuing Airworthiness Management Service (CAMO), Airworthiness Reviews, ARC Services, Aircraft Delivery and Re-delivery Support Services, Maintenance Coordination Services including AOG, Tech Ops (Maintenance Control Centre), and managing myairops software products. As the Head of Aviation Delivery, I lead the customer-facing delivery of Technology & Outsourcing products and services for the market, drawing upon a wealth of knowledge, expertise, and industry connections within Gama Aviation’s Technology and Outsourcing Strategic Business Unit.

My journey into Business and General Aviation began during my teenage years while still in school. I was fortunate enough to be welcomed into the industry, starting at a flying club, and later working at the Air Traffic Services Unit at Blackbushe Airport. There, I maintained the ATC Movement Logs in the Control Tower during weekends, solidifying my passion for aviation. Upon completing my schooling, I seized opportunities at Fairoaks Airport, where I began as Ground Crew while pursuing my Aerodrome Flight Information Service Officer’s license. Advancements in my career led me to the role of Air Traffic Services Manager.

Since joining Gama Aviation in 1996, I’ve held various positions, including Operations Manager (Post Holder), Operations & Commercial Manager, Commercial Manager, Operations Delivery Manager, Head of Business Aviation Delivery, and currently, Head of Aviation Delivery. This role encompasses Gama Aviation Group’s Gama Aviation, myairops, and FlyerTech companies.

In 2023, I was honoured to be invited to serve as the Chair of the Operations Working Group for the British Business & General Aviation Association. This opportunity allows me to contribute to industry initiatives within BBGA’s membership of nearly 200 industry companies, focusing on challenges such as regulatory compliance, Air Services Agreements, technological advancements, workforce development, operational matters, and sustainability.

Marc Bailey

Marc Bailey has spent his entire career in aviation and has worked in most areas of Aviation Services with scheduled airlines, MRO’s, military contract support and latterly with associations, government, and its agencies.

Marc represents your position in Europe (even post Brexit) – as President of ECOGAS (European Council of General Aviation Support) which maintains a voice with EASA. All the major member states are represented on the ECOGAS board. With EASA restructuring its meetings with industry, ECOGAS is now well positioned to represent our position in all areas following industry partnerships with the European Independent Maintenance Group and with ARPAS the new drone and autonomous association.

Marc is chair of the UKASF (United Kingdom Airworthiness Strategic Forum) as part of an initiative to develop Aviation Services across all aviation activities. The UKASF pulls together airlines, MROs, Rotary, Drones, and commercial GA bodies to work with CAA and DfT. The objective is for industry to take the lead to drive strategic issues to benefit all parties. We are well positioned after four years to continue our good work and with the re-established role of Chief Surveyor in the CAA we have a good focal point to do this.

Marc chairs the CAA Finance and Services Forum which allows industry in the UK to discuss in the financial plans for the CAA and the value for money delivered by those funds paid by industry. This is a new and valuable new platform for all parties.

Under recent developments Marc has formed an alliance with, ARPAS, AOPA, BHA and BBGA so that we can strengthen our voice under a joint ‘GA 4 Biz’ banner. This alliance is working to do everything possible to represent the industry’s business interests with UK government and to help realise the Government’s desire to make UK General Aviation a Global Leader in a post Brexit environment. GA4Biz – GA4Biz

The next Generation initiatives with industry and government have continued to develop with the retention platform now evolving into the “Aviation Skills Recruitment Platform”. The platform now not only offers a vehicle for those offering and seeking posts in aviation, it also provides pathways with its TalentView portion seeking to provide pathways for new entrants into our sector. The recruitment platform is being further developed to include training opportunities across a wide range of providers, from government agencies through academic bodies. Getting our next generation activities right in the UK over the next couple of years is our single most important issue which we in aviation must grab with both hands. Marc is playing a central role to help develop many of these channels.

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