FAA Forecast: Skies Slowly Brighten for Bizav

Demand for business jets is beginning to recover, driven by higher corporate profits and the rise of worldwide GDP, according to the annual FAA Aerospace Forecast released last month.

“As the industry experts report a significant portion of piston aircraft hours are also used for business purposes, we predict business usage of general aviation aircraft will expand at a faster pace than that for personal and recreational use,” the agency’s analysts said, adding that the most recent shipment activity indicates “cautiously optimistic” results that the hard impact of the recession on the business jet market may have come to an end.