Last year’s dot-com nosedive has taken its toll on the startup companies planning to build new business aircraft and seeking ever more elusive investor funding. Notably, Century Aerospace in June indefinitely shelved its plans to build the entry-level six-place, twin-turbofan Century Jet. And Sino Swearingen laid off 100 contract employees earlier this year to conserve cash, only to bring them back after securing enough funding to bring its SJ30-2 to certification and production. Other startups, including Eclipse, have found it hard (though not impossible) to find investment funding, causing them to stretch their development timelines. However, most of the established aircraft manufacturers have held their courses steady, and all but the Raytheon Hawker Horizon program are pretty much on schedule.
Despite the economy, business aircraft manufacturers delivered a record number of business jets in the first half of this year (although billings are slipping). New entrants coming into the market in the next few years should help keep the tide high, if not at record levels. Meanwhile, those startup companies that can ride out the current rough economic seas should be able to reap the fruits of their labors in just a few short years.
More In Aircraft
