The Very Light Jet (VLJ) aircraft market will be worth $2.52 billion, with 1,403 jets being delivered between 2007 and 2011, according to a new study by global aviation consultants PMI Media Ltd.
The study, called The Microjet Market 2007-2016, identifies six top contenders in the market: the Adam Aircraft A700, Embraer Phenom 100, Diamond D-Jet, Eclipse 500, the HondaJet and the Cessna Mustang, which is the only VLJ to have reached full certification.
“Based on manufacturers’ own production figures we see annual delivery rates rising steadily to 2010 and peaking at around 350 units a year,” says the report’s author Philip Butterworth-Hayes. “In the first five years of production, 85% of the customer base will be located in North America.”
Another prediction the report makes: “It is in Florida where we believe the microjet-based air taxi concept will live or die,” Butterworth-Hayes says.
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