The global business aviation industry is anticipating a modest increase in flight utilization, according to statistics released by data tracker JetNet at its second annual iQ Summit in New York City recently. The Utica, N.Y.-based company conducts quarterly surveys through its JetNet iQ product, which it uses to gather information about the current state of the business aviation market and predict future trends.
Based on the results of its most recent quarterly survey of bizav operators in more than 50 countries, the company foresees nearly 5-percent growth in flight hours worldwide over the next year and a 7-percent increase the following year. Half of the respondents in the survey believe that the industry is currently at the low point in the business cycle, while approximately 24 percent say business aviation has yet to reach bottom. Those pessimists are countered by the remaining 26 percent who believe the industry is on an upswing.
