Rolls-Royce today predicted continued growth in business jet deliveries through the remainder of the decade and forecasts an engine market worth $110 billion over the next 20 years, with medium and large business jets dominating in terms of aircraft and engine value. The company’s business jet forecast was released at the 2008 European Business Aviation Conference and Exhibition (EBACE) in Geneva.
Rolls-Royce forecasts that 79,000 engines, valued at $110 billion, are needed over the next 20 years to meet a demand for 39,000 new business jet aircraft; from very light jets through business jetliners. Demand is being augmented by an increase in deliveries to non-USA markets coupled with the introduction of new models, which will add a further stimulus to the market.
Demand is being fuelled by the business community’s increasing recognition of the value of using business jets as a productivity tool.
Of the 39,000 new business aircraft, 40 per cent are expected to be in the medium or large business jet category (75 per cent by value). The forecast predicts that nearly 16,000 medium and large business jets will be delivered between 2008 and 2027.
These are the sectors where Rolls-Royce has successfully participated for over 40 years, resulting in a market leading 34 per cent share by value of the total sector.
Rolls-Royce is working hard to improve the environmental impact of its products and has the youngest, most fuel-efficient engine fleet of all the engine manufacturers. It has brought six new civil engine programs to market in the past six years, two of which are applications for the corporate market.
To further strengthen its position in this growing market, Rolls-Royce is developing the BR725 engine which will power the Gulfstream G650. This is a new sector defining aircraft. It features a large cabin, long-range and high-speed. In addition, the RB282 engine has been launched on the Dassault SMS, a new super mid-sized business jet.
The BR725 engine will set the standard in environmental performance for the corporate market, reflecting Rolls-Royce's continuous focus on reducing noise and emissions through its investment in technology.
Other engines in the Rolls-Royce portfolio include: the AE 3007 engine powering the Cessna Citation X and Embraer Legacy 600; the Tay 611-8C engine powering Gulfstream’s G350 and G450; and the BR710 engine powering the Bombardier Global Express, Global 5000 and Gulfstream G500 and G550 aircraft.
All of these engines are supported by Rolls-Royce CorporateCare®, the industry’s most comprehensive engine maintenance management program.
Alan Stiley, Rolls-Royce Vice President for Marketing, Corporate and Regional Engines said: “The market continues to grow at a robust rate; it has also become more diverse in terms of geographic distribution and breadth of aircraft capability available. In response, Rolls-Royce will continue to invest in new products and services in order to maintain its leading position with business aircraft operators and manufacturers.”