Business jet activity is continuing on a positive trend, and that’s good news for the industry.
The number of business jet takeoffs and landings in January was an estimated 4 percent higher than in January 2012, UBS analyst David Strauss wrote in an analyst report Monday.
The higher activity follows a strong December and has grown at a “solid rate” for six out of the past seven months, Strauss wrote.
Strauss estimates that average daily utilization of young business jets, jets from zero to five years of age, is nearly back to “pre-crisis levels.”
Utilization of the older fleet, however, is still declining.
By market segment, utilization of long-range business jets moved 11 percent higher year over year in January, mid-range business jets rose 4 percent higher, and short-range business jets rose 2 percent.
Takeoffs and landings increased the most at Embraer, with a 30 percent increase year over year.
That was followed by Gulfstream and Bombardier at 5 percent, Hawker at 4 percent, Dassault at 3 percent and Cessna at 2 percent.
UBS expects the North American market to continue to improve driven by pent-up demand by corporations to replace their aircraft.