A down third quarter slowed gains in the business jet market that surfaced in the first half of the year and put the industry on pace for another flat year, the General Aviation Manufacturers Association’s latest shipment report reveals.
Business jet executives were hopeful that the market was improving after the first half of the year when deliveries had picked up 13.1% and billings 13.2%. But the market faltered in recent months – with many of the OEM chiefs pointing to uncertainties leading up to the elections and well as with the global economies
As a result, OEMs delivered 134 business jets in the third quarter, down from 167 in the third quarter 2012. Through the first nine months, business jet shipments are up just one aircraft to 428 units.
On the positive side, both turboprop shipments and piston shipments were stronger in the third quarter and up on the year (10.5% for turboprops and 3.5% for pistons). Fourth quarter is usually the strongest at most the manufacturers. And, with the elections over, officials are hoping that buyers who have been sitting on the sidelines will move forward with more certainty.
“Now that the U.S. election is behind us, we hope that legislators quickly act on the nation’s budget crisis so that individuals and businesses can begin to chart their own long range fiscal paths,” says GAMA President and CEO Pete Bunce.