“The financial turbulence being felt around the globe has placed a significant focus on the challenges facing the aviation industry, particularly within the business jet sector. The sharp downturn in global economies in late 2008 precipitated a sharp decline in demand that affected aircraft manufacturers, suppliers and operators.
With demand for air travel closely linked to economic growth, we anticipate continued volatility in the aerospace industry in the near term. However, despite the current recession, the market fundamentals are strong in the long term. As the world begins to emerge from this economic crisis, demand should gradually return and future prospects remain solid,” said Mairead Lavery, Vice-President, Strategy and Business Development, Bombardier Aerospace.
While in the short term the industry faces such important challenges as high pre-owned inventories, negative public perceptions and a difficult economic climate, Bombardier remains confident that there is a strong potential for the business aircraft industry over the next 10 years. The anticipated return of global economic growth is expected to result in a strong recovery in the demand for business jets.
Source: Bombarier
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