Gulfstream Soars as Bizjet Deliveries, Revenues Rise

Revenues at General Dynamics’ aerospace division, which includes Gulfstream Aerospace and Jet Aviation, climbed 4.1% year over year to $3.062 billion in the second quarter, while profits soared 26.3%, to $403 million. That was thanks to higher deliveries at Gulfstream—38 aircraft (32 large-cabin jets and six super-midsize G280s) versus 37 (31 large-cabins and six G280s) in the same period last year—and a more favorable mix in the three-month period, with 15 G700s handed over.

In the first six months, Gulfstream shipped 74 jets (62 large-cabins, 12 G280s), compared with 61 (59 large-cabins, nine G280s) in the first half of 2024. General Dynamics chairman and CEO Phebe Novakovic slightly raised Gulfstream forecast deliveries for this year to 150 to 155 aircraft, with G800 shipments expected to start in the current quarter. She added that the first 20 G800s will be handed over to G650 customers. Novakovic said Gulfstream’s current production capacity is 200 aircraft a year.

Meanwhile, she noted that demand for Gulfstream remains strong, with sales spread across the product line and also around the world, with North America, Europe, and the Middle East specifically mentioned. Book-to-bill was 1.3:1 during the quarter, prompting aerospace backlog to rise to $19.9 billion, up nearly $1 billion from late March and the highest since 2022.

According to Novakovic, the supply-chain issue at Gulfstream is easing up, with both quantity and quality of parts and components improving during the quarter. “I’m increasingly confident that we can meet this year’s delivery plan,” she told analysts today during the second-quarter investor call. “In fact, we are delivering G700s on a much more predictable cadence. I am pleased that all of our G700 retrofit airplanes have been delivered. Also, all of the G700s that were completed before engines were installed have also been delivered.”