Rolls-Royce forecasts that 48,000 engines, valued at $61 billion, will be needed over the next 20 years to meet demand for 23,000 new corporate jet aircraft from very light jets through to business jetliners.
Demand is also being fuelled by the business community's increasing recognition of the value of using business jets as a productivity tool. In addition, evolving fractional programs are expanding the market by lowering the cost of entry and ownership.
Rolls-Royce identified the emerging markets of China, India and Russia as growth regions for the industry, saying that these markets will play a relatively larger role through the forecast period. However, North America is expected to remain the largest market.
“The growth trend for business jet deliveries now exceeds the pace of narrow body commercial airliner deliveries,” said Alan Stiley, Rolls-Royce vice president for marketing, corporate and regional aircraft. “The largest segment in terms of engine value will remain the medium, long-range and ultra long-range aircraft, where Rolls-Royce is well positioned with its BR710 and Tay engines. In fact the market share by aircraft value for these aircraft will remain near 70 percent.”
Author: Andrew Allcock