“Well – one thing for sure – “change”. Over the last twenty-five years we have witnessed the transformation of the “Business Aircraft” into a validated and substantiated tool that has allowed businesses to become more competitive and responsive like never before. The economy has gone global and having the tools to meet the challenge is simply not an option but a matter of survival. Throughout the growth of business aviation we have seen many changes. All but gone are the first generation of business aircraft – the Lear 20’s series and Sabre 40/60’s that started the revolution in the 1960’s have been replaced by more efficient and sophisticated machines. Business Aircraft lead the industry now with models that range the full spectrum with state of the art features – from global behemoths to the new class of jets called “VLJ’s” that make the private aircraft dream attainable to a whole new group of businesses and professionals.
Surprisingly though many predictions of the past have gone completely in the opposite direction. One for instance was that the age of the turbo props was coming to an end, to be replaced by the new family of efficient and high performance jets soon to hit the market. Years have gone by now since those predictions were made only to have the turbo-prop’s now selling at all time highs? Who would have thought that 25 year old turbo props of all models would be having such an impact on the market in 2007? Manufacturers of all type of aircraft have record order books with backlogs years into the future. Yes, the health of the Business Aircraft industry looks good – regardless if it is driven by a propeller or a jet!
The picture is not entirely all roses. There are indeed significant challenges to the industry. Increased regulation and costs have been on the front lines for sometime now, mainly the subject of “user fees” and the attempt to pass more taxes onto the general aviation industry. We have recently fought off a major assault that made it right to the door step of General Aviation, but the battle is not yet won and we need to remain diligent. Of course the health of the economy and fuel prices are also on everyone’s mind as we look to the future. The impact of rising fuel costs interestingly have not yet had a major impact on the industry but coupled with a slowing economy we may finally see a slow down in 2008. The ever weakening US Dollar though may have a silver lining, indirectly creating a “second wind” for the Business Aircraft industry as many growing economies around the world see the benefits of flying privately and look to the US Market to meet their needs. With the Presidential elections soon upon us many things remain unknown, but one thing we can bank on is that change will happen and that Business Aviation will be there to help us meet the challenges!
Kevin McCutcheon, President of the Flight Solutions, Inc.
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