Magazine Ultimate Jet #74

The epidemic of Covid 19 has
and will have an irremediable
impact on a good number of
aeronautics industrialists. In six months, the sector
as a whole has lost all the jobs created between 2009
and 2019 according to the International Air Transport
Association -IATA. A tragedy that is undermining this
economic vector that supports 56 million people
around the world. Business aviation is obviously not
spared. And the hypothesis that a drop in commercial
travel would have led to an increase in business aircraft
purchases has not yet been proven. According to
Honeywell, which has published its market forecasts
for the next ten years, most operators indicate that
they have frozen their purchasing plans and plan to
keep their current aircraft longer. Renewal of the global
business jet fleet is therefore expected to stagnate
and the impact for airframers, who are already feeling
Resilience
the effects of the year 2020 as a
blank year, could be particularly
violent and some programs
put on hold while waiting for better days. However,
the resilience of this industry is an advantage that
should enable it to recover much faster than other
sectors. According to the study, «Business jet usage
is expected to rebound to 80% to 85% of 2019 levels
in the 4th quarter of 2020 and fully rebound by the
middle of 2021 ». Despite a decline in fleet renewal
in the medium term, Honeywell is reassured by the
industry’s forecast of an average annual growth rate
in deliveries of 4% to 5% until 2030, in line with the
expected global economic recovery. This is a glimmer
of hope for an industry and operators that for the
most part do not receive any state aid, but which
benefit from exceptional advantages
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