Gulfstream Aerospace’s likelihood of reaching its forecasted 19 G700 deliveries by year-end "is zero,” said business aviation industry analyst Rollie Vincent.
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As the clock ticks down on 2023, with five calendar days remaining (including today), and without G700 FAA certification yet in hand, Gulfstream Aerospace’s likelihood of reaching its forecasted 19 G700 deliveries by year-end "is zero,” business aviation industry analyst Rollie Vincent told AIN. Meanwhile, a Gulfstream spokeswoman told AIN that the company “continues to work towards G700 certification by the end of the year.”
Even if the aircraft manufacturer received FAA approval for the twinjet today, “I think that the most we could expect at this point is for FAA certification and an initial delivery or two before year-end,” Vincent noted. “My understanding is that the FAA was still doing some flying of the aircraft [this month], so things will have to move fast and in a highly coordinated fashion for that goal to be achieved. This is doable—the team at Gulfstream is highly experienced and focused, so with a little luck, this would be a nice way to close out an eventful year for the company.”
In October, parent company General Dynamics downgraded its 2023 estimate of 145 Gulfstream deliveries to between 133 and 135 aircraft. According to General Dynamics, this counts 40 to 45 jets—including 19 G700s—in the fourth quarter. Without any G700 deliveries, this would drop to 114 to 116 units and could reduce fourth-quarter revenues by about $1.425 billion, although that is based on the jet’s $75 million retail price.
Vincent estimates that Gulfstream is holding in inventory about 24 outfitted or nearly outfitted G700s worth approximately $1.8 billion at list prices.
2023 Clock Running Out for Gulfstream G700 Deliveries
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As the clock ticks down on 2023 and without G700 FAA certification yet in hand, Gulfstream Aerospace’s likelihood of reaching its forecasted 19 G700 deliveries by year-end "is zero,” business aviation industry analyst Rollie Vincent told AIN. Meanwhile, a Gulfstream spokeswoman told AIN that the company “continues to work towards G700 certification by the end of the year.”
Even if Gulfstream received FAA approval for the twinjet today, “I think that the most we could expect at this point is for FAA certification and an initial delivery or two before year-end,” Vincent noted. “My understanding is that the FAA was still doing some flying of the aircraft [this month], so things will have to move fast and in a highly coordinated fashion for that goal to be achieved. This is doable—the team at Gulfstream is highly experienced and focused, so with a little luck, this would be a nice way to close out an eventful year for the company.”
In October, parent company General Dynamics downgraded its 2023 estimate of 145 Gulfstream deliveries to between 133 and 135. According to General Dynamics, this counts 40 to 45 jets—including 19 G700s—in the fourth quarter. Without any G700 deliveries, this would drop to 114 to 116 units and could reduce fourth-quarter revenues by about $1.425 billion, although that is based on the jet’s $75 million retail price.