AVIONICS INTELLIGENCE VIDEO BLOG. 25 Oct. 2011. Executive Editor Courtney Howard in The Avionics Intelligence Report recognizes that business aviation market segment is rebounding. General aviation overall is experiencing rapid growth specifically in the Asia-Pacific region, and manufacturers of business jets and commercial aircraft are setting their sights on China, Korean, and other Asian markets.
In the first quarter of 2011, market analysts and research firms, such as Research and Markets in Dublin, forecast an end to the three-year decline in the business aviation segment in 2012. The market rebound appears to be on track, based on the optimistic mood at the National Business Aviation Association (NBAA) conference in Las Vegas this month, as well as the multimillion- and even billion-dollar aircraft orders placed on the exhibit floor. Myriad conversations with aircraft manufacturers at the show also prove this out.
A bright spot in the business jet market is the Asia-Pacific region. During NBAA, China Business Aviation Group CEO Jason Liao revealed his predictions for the Chinese aircraft market, which he expects will include 1,000 or more business jets over the next decade. By all accounts, aircraft manufacturers Bombardier and Embraer agree with this projection, forecasting roughly 1,000 business jets in China by the end of this decade.
Boeing is bullish on the commercial airplane market in Asia, projecting 1,250 new airplanes will be delivered to Northeast Asian carriers, to the tune of $200 billion, over the next 20 years. Rapid economic growth is driving passenger traffic in the region according to Randy Tinseth, Boeing Commercial Airplanes vice president of marketing.
As for the overall avionics market, Research and Market’s “Personal and Business Jets: Market Analysis and Outlook" report reveals that “end user demands for open systems architecture will drive product development as the total avionics market edges back toward $2 billion annual revenues by 2020.” The analysts cite Garmin, Rockwell Collins and Honeywell as strong market influencers through 2015, and predict that acquisitions will accelerate, and avionics OEMs will expand beyond traditional cockpit systems toward more integrated airborne electronics solutions for business aircraft.