The International Aircraft Dealers Association (IADA) says it sees a significantly larger market over the next six months for business aviation aircraft.
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The Global Business Jet market has been on the recovery path while facing tremendous headwinds in a complex, difficult & highly challenging market environment with the global economy reeling under the pressure of COVID-19 pandemic. The global business jet market in fact has been faring much better than commercial aviation, marking a major departure from the usual trend owing to social distancing mandates, and has witnessed a strong uptick in fleet utilization levels by late 2020 and is projected to make a recovery to pre-COVID levels, in terms of fleet utilization, by mid-2021. The industry has shown tremendous resilience over the past decade with the OEMs focusing on portfolio refresh led by new product introductions, reinforcement of presence across key markets & regions and services portfolio expansion amid a difficult demand environment through the decade.