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The North American and Western European markets helped buffer plunging business jet deliveries in other global regions, keeping the third-quarter decline to 5 percent globally, according to the latest UBS business jet delivery report.
Deliveries to North America were up by 9 percent, while the market in Western Europe rebounded to a 13-percent improvement, the market analyst said. Deliveries to China plummeted 83 percent in the third quarter. The Latin America market suffered similar contraction, with deliveries falling 50 percent, while the emerging Europe, Middle East and Africa (EMEA) market was off 13 percent.
On a rolling 12-month basis, global deliveries are down 4 percent, reflecting growth of 5 percent in North America and 12 percent in emerging EMEA. Over the past year, though, Western Europe had been down 12 percent and Latin America by 44 percent. In China and India, which took no large-cabin business jets in the last quarter, deliveries have been down by 44 percent over the past year. Gulfstream has had the largest percentage of total deliveries to China and India in the past 12 months at 6 percent, followed by Embraer at 4 percent.
North America has steadily regained strength, accounting for 63 percent of total business jet deliveries overall in the most recent quarter and 72 percent of light and midsize aircraft. This strength helped propel deliveries in the light jet class to a 25-percent improvement. In North America, light jet shipments are up 36 percent. Large-cabin jet deliveries decreased 26 percent and midsize jets were down 10 percent. North America accounted for 50 percent of the large-cabin deliveries in the most recent quarter.
Over the past year, small cabins have increased 12 percent, midsize jet deliveries are nearly flat and large-cabin jets remain down 18 percent.
Business jet deliveries are still 36 percent below the peak of more than 1,000 in the 2007 to 2008 timeframe. While deliveries to North America customers have improved 55 percent from the low point, they are still 23 percent below peak. Western Europe delivers, meanwhile are nearly 60 percent off peak.