GJC Forecasts $162.1B Bizjet Market over Next 5 Years
The new and preowned business jet market is forecast to combine for $162.1 billion in total transactions with a compound annual growth rate (CAGR) of 7.4 percent through 2025, according to Global Jet Capital’s (GJC) first-ever business jet market forecast that was released today.
Providing a picture of both preowned and new aircraft transactions, the GJC forecast predicts transaction volume will grow from 3,308 transactions worth $29.3 billion this year to 3,743 worth $36.3 billion in 2025. Meanwhile, transaction volume will be up by 5.5 percent from 2020 to 2021 alone and dollar volume by 15.5 percent.
GJC foresees a rebound in 2021 for new business jets, with delivery volume anticipated to jump by 11.8 percent and dollar volume 13.9 percent this year. However, the business jet finance provider believes it will be 2023 before the deliveries return to 2019 levels and 2024 before the market sees another more significant jump. GJC forecast business jet deliveries to increase at a CAGR of 5.4 percent through 2025, while dollar volume will have a 7.3 percent CAGR.
Preowned transactions, meanwhile, are anticipated to account for 79.4 percent of the total market. Over the five-year forecast period, preowned unit volume is projected to increase at a 3.2 percent CAGR, while dollar volume will increase at a 7.5 percent CAGR.
North America-based fractional ownership provider Jet It and its European affiliate JetClub are the launch customers for the all-electric, cabin-class Bye Aerospace eFlyer 800, the companies said yesterday. Powered by a pair of Safran Engineus electric motors, the eFlyer 800 will be able to carry seven passengers, fly up to 500 nm with 45-minute IFR reserves, and cruise at speeds up to 320 knots. Certification is planned in 2025.
Revealing its initial customers, Bye Aerospace said Jet It and JetClub signed a purchase agreement for a fleet of eFlyer 800s, though it did not detail the number of firm orders and options. The agreement also includes four eFlyer 4 airplane purchase deposits.
As launch customers, Jet It founder and CEO Glenn Gonzales and JetClub founder and CEO Vishal Hiremath will join Bye Aerospace’s strategic advisory council for the eFlyer.
“As an aviation company run by aviators, we believe electric propulsion is the next major innovation in air travel, and Bye Aerospace will be one of the very few manufacturers able to certify an environmentally sustainable aircraft that meets the needs of our expanding customer base,” Gonzales said.
Bye Aerospace estimates that the eFlyer 800 will operate at about one-fifth the costs of current twin turboprops.
Want more? A longer version of this article can be found at FutureFlight.aero, a news and information resource developed by AIN to provide objective, independent coverage and analysis of cutting-edge aviation technology.
SmartSky Expands Honeywell Deal To Include Bizav Connectivity
SmartSky Networks has designated Honeywell as an authorized value-added reseller for its air-to-ground business aviation connectivity services in North America. Honeywell is also a provider of Immarsat's GX Aviation service, which uses the Arizona-based OEM’s JetWave equipment, and this new agreement gives its customers another option for high-speed connectivity rivaling that of ground-based Wi-Fi.
SmartSky said its network uses 5G technology to provide reliable, secure, and affordable in-flight connectivity (IFC). A low-latency signal delivered to each aircraft in the network ensures high performance regardless of network loading, according to the companies. While similar offerings share beams among several aircraft, each beam in the SmartSky system communicates with only one aircraft at a time.
The Honeywell GoDirect Router will be authorized for use with the SmartSky Network for business aviation customers wishing to receive the full slate of Honeywell services and support.
This latest announcement builds on the relationship between the two companies which began two years ago when Honeywell was named as a distributor for SmartSky’s commercial aviation applications. “Expanding our relationship to include business aviation marks yet another important milestone and expands our ability to address this underserved market,” said SmartSky CEO David Helfgott. “Honeywell’s proven track record in providing innovative connectivity and flight services aligns well with SmartSky’s vision to enable and empower the emerging connected aircraft ecosystem.”
JetTech STCs Add New Features for CitationJets
JetTech unveiled its most recent avionics supplemental type certificates (STC) for the Cessna CitationJet today at the Aircraft Electronics Association convention. One STC covers installation of touchscreen Garmin TXi displays, GTN 750/650 Xi navigators, and the GFC 600 autopilot in CitationJets through S/N 0359.
The company’s other new STC is for an “enhanced equipment package” added to its GTN STCs, and this includes Garmin’s GSR 56 Iridium satcom, GDR 66 datalink (for controller-pilot datalink communications features), GWX 75 digital weather radar, Garmin USB ports, Shadin AIS-380 fuel flow, Bose headphone jacks, and a pedestal-mount Jupiter Avionics glove box.
In addition to the aforementioned equipment, the original GTN STC also provides for the installation of Garmin GTX 33/3000 and 335/345 transponders, voice-activated GMA 35 audio system, GA 35/37 antennas, SiriusXM satellite weather and music, and ADS-B Out/In.
With the GFC 600 autopilot, CitationJet owners can fly autopilot-coupled LPV approaches; the autopilot also adds Garmin’s Electronic Stability & Protection system, along with under-and over-speed protection, LVL mode, airspeed climb and descent mode, flight director command cues, and vertical navigation (when the GTN navigator is also installed).
The JetTech STCs and equipment installations are available from authorized Garmin dealers.
SAF Lowers Contrail Formation by Up to 70%, Says NASA
Besides lowering an aircraft’s carbon emissions, using a 50/50 sustainable aviation fuel (SAF) blend can also result in 50 to 70 percent fewer ice crystal contrails at cruising altitude, further reducing aviation’s impact on the environment, according to in-flight research by NASA and the German Aerospace Center (DLR). Ice crystal contrail formations can linger in the upper atmosphere for hours and affect the way Earth is heated and cooled, NASA said.
“We know that contrail formation from jet exhaust has a larger, more immediate impact on climate than carbon dioxide emissions,” said Richard Moore, a NASA scientist at Langley Research Center in Virginia. “This research shows we have an opportunity, using alternative fuels, to make immediate changes that could help the planet.”
Jet engine exhaust includes water vapor and soot particles. As the water vapor cools, it condenses and ice crystals form when this supercooled water interacts with exhaust soot or other particles naturally in the air.
By using SAF, jet engines release fewer soot particles, resulting in fewer ice crystal formations. In addition, the crystals that do form are larger, meaning they fall more quickly and melt in the warmer air below.
During the recent trials, DLR’s research A320 burned SAF while NASA’s DC-8 “flying laboratory” trailed behind, sampling and analyzing gases and particles in the A320’s wake.
Air Partner Targets First-time Private Jet Travelers
Charter broker Air Partner is introducing JetCard First Flight, a program available until September 1 for new business jet flyers that will allow them to experience the company’s private jet membership program and its benefits. The program is applicable for one-way or roundtrip booking, but the minimum flight time per trip is two hours.
Benefits include a fixed hourly rate with no additional costs, 15 percent round-trip discount for qualified flights, free cancellation up to 72 hours before the flight date, an upgrade in cabin size with no premium charge, and no blackout dates. Also included is access to a dedicated jet card account manager and private terminals, as well as personalized catering and ground transportation from the airport to the client's hotel or venue.
David McCown, Air Partner’s president of the Americas, said an uptick in more leisure travelers using private aviation this year prompted the development of the program. “As travel continues to ramp up this summer both domestically and internationally, Air Partner wanted to introduce an offer that would show first-time private jet travelers the benefits of our JetCard program,” he said.
Testing Proves Gogo 5G Network ‘Better Than We Thought’
Gogo Business Aviation is progressing on equipment installation and testing of its 5G air-to-ground (ATG) network for a 2022 launch, attaining several new milestones, the Colorado-based company said today. In terms of the ground network, Gogo has installed the first two 5G antennas on a tower, permitting prototype testing of system performance. It also represents the start of the fourth ATG network Gogo has designed and built over 28 years, noted Dave Glenn, the company's senior v-p of customer operations.
Additionally, its 5G air card prototype has been completed, as has coast-to-coast flight testing of its 5G belly-mounted antennas. As part of the validation of the hardware’s performance, a connection between the aircraft and ground antennas was completed during flight.
Gogo senior v-p of engineering Mike Syverson added that using a 5G SIM card, the company successfully performed an end-to-end call from the aircraft to the cell site, through its data center to the internet, and back. It’s a process that has required “a lot of software development to put those pieces together,” he said.
“The tests we’ve conducted and successfully passed validate what we modeled when we initially announced we would build a 5G network,” Syverson said. “Through the testing we’ve done so far, we now know that Gogo 5G is going to be better than we originally thought it would be.”
Cabin audio and in-flight entertainment specialist Alto Aviation has expanded its Cadence cabin management system product line with new switch panels that replace obsolete Baker passenger controls.
Unveiled today during the 64th annual Aircraft Electronics Association International Convention and Trade Show in Dallas, the Alto Cadence switch panels are FAA TSO-C139a approved. Upgrading MHL3 and MHL4 Baker panels, the new panels expand the range of Cadence replacement switches that can be used for Airshow, Audio International, Lufthansa Nice, and Pacific Systems.
Alto offers more than 30 unique replacement switch series bezels. According to the company, the replacement units are designed for seamless installation and fit with any interior design, cutting down on installation costs by preserving existing woodwork and retaining cutouts. The panels further accommodate new functionality, including Bluetooth audio, HDMI, and USB ports, Alto said.
“Introduction of our Alto Cadence CMS replacement for obsolete Baker passenger controls represents our continued commitment to anticipate and provide our clients with effective ideas that solve obsolescence, reduce wood rework, and significantly save in installation costs and resources,” said Kevin Hayes, v-p of sales and marketing at Alto Aviation.
People in Aviation
John Foster has stepped into the role of chairman and CEO of Skytech. Foster has led Skytech for the past 22 years as president and has worked for the company since 1980. Justin Lazzeri, a nearly 20-year Skytech veteran, has taken the role of president. Lazzeri began as a part-time company pilot before moving into the role of director of marketing and ultimately v-p of aircraft operations. Rick Shepard, meanwhile, was named executive v-p of operations, overseeing both the FBO and flight departments. Shepard also has served with the firm for 20 years and formerly was v-p of FBO operations.
Air Partner appointed Andy Balser v-p of supplier relations. Balser brings more than 20 years of aviation customer service and operations experience to his new role, including spending 13 years with NetJets and also serving with Nexus Flight Operations Services, Hawker Beechcraft, Argus International, and Jet Edge International.
Banyan promoted Abby Self to store manager of the Banyan Pilot Shop. Self joined Banyan in December 2019 as the store buyer and has more than 13 years of retail and merchandising industry with experience as an e-commerce manager.
Kulr Technology Group named Greg Provenzano v-p of sales and marketing. Provenzano joins the thermal management specialist with more than 35 years of leadership and worldwide sales experience in electronic components, design services, and systems, most recently serving as senior v-p for Advanced Energy.
West Star appointed Randy Miller technical sales manager for the Bombardier Challenger/Global division at its Grand Junction, Colorado facility. Miller, who has more than 25 years of aviation experience including with West Star, has also worked with StandardAero, Textron Aviation, and Western Aircraft.
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