The initial take from this year’s NBAA convention from a leading industry analyst is “somewhat positive.” Jonathan Raviv of Citi Research notes the tightening used jet market and increased valuations, the continued march into super-midsize and large-cabin jets by new aircraft buyers, and Monday’s announcement by NetJets to option up to 325 new Cessna Longitudes and Hemispheres from Textron Aviation as signs of a business jet market that is poised to turn the corner over the next several years.
Raviv was particularly bullish on Friday’s announced leadership change at Textron Aviation, where Ron Draper was promoted to CEO. Raviv noted that “Draper started at Cessna 20 years ago and was most recently in charge of aviation supply chain. We sensed excitement about the change at the show given Draper’s aviation legacy.”
Raviv also touched on the observation that many OEMs are showing persistent campaigns to add value and competitiveness to existing products, mentioning added maximum ranges announced for the Gulfstream G500 and G600 and Bombardier’s new Global 5500 and 6500. “We’re also interested in commentary on the intensifying competitive dynamics in the super-midsize and large-cabin segments,” he said. Overall, Raviv said an “early take on attendee sentiment is positive” at this year’s convention.