|The business aviation market saw modest gains this quarter. Photo: Embraer Executive Jets.
[Avionics Today 11-18-2014] Global business aviation activity saw modest gains in the third quarter of 2014 with 2 percent growth quarter-over-quarter and 2.2 percent growth year-over-year, according to Jet Support Services Inc.’s (JSSI) most recent Business Aviation Index report. JSSI, a provider of maintenance support and financial services to the business aviation industry, tracks the number of hours that business aircraft have flown by region, industry and aircraft type and releases all related data on a quarterly basis.
"The results we're seeing are consistent with macro trends in the greater U.S. economy in that there continues to be steady growth, but at a lower rate than during the second quarter when the economy was bouncing back from a particularly harsh winter. Fortunately for business jet operators, the cost of fuel has come down this year. With that said, the cost of maintenance continues to be quite volatile," said Neil Book, president and CEO of JSSI.
At the industry level, the aviation, construction, consumer goods, power and energy sectors all saw positive growth since last quarter. Regional results were mixed with positive activity in the developed markets, but an overall decline in less mature business aviation markets. "What stands out, though, is the large decline in African business aviation activity. As the Ebola crisis persists in Western Africa, many business travelers have been reluctant to travel to the region, and that reluctance is coming across in our data," said Book.