Story ID: 766 Jetcraft
Jetcraft Business Propels in Middle East
By: Kerry Lynch
Caption: Middle East expected to account for 3 percent of deliveries over next 10 years.
Word Count: 195
Eying an expanding market in the Middle East, aircraft broker Jetcraft (Chalet P7) has brought a Dassault Falcon 7X and Embraer Legacy 650 to the MEBAA Show static display. The company noted that the Middle East has been a “strong contributor” to its business this year, accounting for 10 percent of its total sales—a contribution higher than Jetcraft’s historical average. The company added that this performance will help keep it on track to improve on last year’s record results.
  
Long-term, Jetcraft’s most recent market forecast predicts the Middle East will account for three percent of business aircraft deliveries over the next 10 years. Worldwide, Jetcraft forecasts business aircraft deliveries will reach 7,879 units over the next decade, with 236 of those aircraft destined for the Middle East.
  
Jetcraft believes oil prices could provide a boost to the market, particularly in emerging regions. The forecast takes a conservative approach, assuming an oil price below $50 per barrel over the entire forecast period. “However, if the price of oil increases to at least $80 per barrel, the overall industry could experience a material increase in business aircraft orders from emerging markets again,” it said.