While some look to book a private charter, others are choosing to buy private jets for their personal or business use. The General Aviation Manufacturers Association (GAMA) released their annual research of private jet market of 2015, which focuses on the all the latest trends the buyers and manufactures are preferring. From which aircraft to purchase, to which manufacturers and models are most popular, if you or your organization is planning to acquire a jet recently, there are some things that you just have to know.
The following articles focuses on the key findings of the GAMA report, and can be a great tool for you if you want to know what’s hot in the private jet industry. The article is shared below:
THE LATEST PRIVATE JET BUYING TRENDS
The General Aviation Manufacturers Association (GAMA) recently released its annual report showing the new private jet and general aviation aircraft that were delivered to owners in 2015. So which aircraft are new owners buying and why?
This report is always something we find fascinating. It’s the top of the supply chain for the charter industry, and a snapshot of the current buying trends for different aircraft categories, models and manufacturers.
Delivery is the final handover between manufacturer and owner. Shipment of a new aircraft can take place months – or even years – down the line from placing an order, as the order book for a private jet is often opened during the early stages of its conception, and some can create a long waiting list. But what were the key trends coming out of this year’s report?
OVERALL DELIVERIES WERE DOWN
Total deliveries of new fixed wing aircraft in 2015 were 2,267, down 4% on the 2014 total of 2,376 aircraft. The report looks across all general aviation categories including, jets and turboprop aircraft.
ARE BUYERS PLAYING A WAITING GAME?
Although a new private jet is always a status symbol for success, it may be that ‘new’ loses some of its appeal if there isn’t an exciting enough aircraft to buy. With several high-profile programmes seeing delays in development, it could be that aircraft owners are biding their time for the next big thing in private jets.
One suggestion of this is Dassault’s performance last year, where they shipped 55 new aircraft compared to 66 in 2014 and 77 in 2013. This could be a sign of Dassault buyers waiting for the Falcon 8X and the delayed Falcon 5X to be launched.
BUSINESS JETS DEMAND IS INCREASING, ESPECIALLY IN THE US
Business jets fared best with a slight increase overall. Looking at regions where new aircraft were delivered to, the USA took a growing majority compared to previous years. This is also the first time since 2008 that the US has fared better than the rest of the world combined, with 63% of all new aircraft last year going to North American buyers. Europe declined slightly in its proportion of new aircraft orders, moving from 16% in 2014, to 11.3% last year.
“The business jet sector is solid and mature,” says GAMA president and chief executive Peter Bunce. “Most of the demand is coming from the US market where the strong economy is triggering a return of corporate buyers and high-net-worth individuals.”
When to comes to making an acquisition as expensive as a private jet, there a lot of factors to consider, starting from cost. And the fact is, most people will be doing it for the first time in their lives. Now that you have a better understanding of the industry and its trends, you can make more educated decisions. To help you out further, here are some additional tips you can consider when buying a private jet:
5 tips for buying a private jet
CEO of the UAE’s first all-woman operated airline services company, LGO International, Emmanuel Dubuisson tells us the five most important things to look for when buying your private jet.
The first thing you need to identify before buying a plane is what kind of distances you’re going to cover? Is it to shoot off nearby on a weekend getaway or are planning to fly halfway around the world? You need to identify the type of travel your jet will be put through; whether it’s going to be long-range, medium-range or for short trips.
The second thing is to identify what you’ll be using it for? Is it for private travel or business travel or a mix of both? This will help you decide what kind of facilities you require while on board and this can make a huge difference in your budget.