WASHINGTON, DC, February 12, 2003 – The General Aviation Manufacturers Association (GAMA) announced today that total industry billings fell from an all-time high of $13.9 billion to $11.9 billion in 2002. The U.S. portion of industry billings fell 9.9 percent, from $8.6 billion in 2001 to $7.8 billion. Shipments of general aviation airplanes totaled 2,539 in 2002, with the U.S. portion of the industry shipping 2,214 in 2002.

"As we look back on 2002, we see that our string of record-setting billings and business jet shipments has come to an end," GAMA President and CEO Ed Bolen stated. "However, on a positive note, business jet flight activity increased last year, we set a new safety record – the fewest number of general aviation accidents ever and the security of general aviation operations has been significantly enhanced."

Addressing the outlook for the general aviation industry, GAMA Chairman Bill Boisture, President of Gulfstream Aerospace Corporation, focused on the challenges ahead, stating, "Although the numbers are down, this is not the biggest one year decrease our industry has ever experienced. The general aviation manufacturing industry today is three times the size it was just six years ago. However, we can’t ignore the fact that this market is not where we want it to be. As manufacturers, we’re navigating through tough economic times by cutting costs, stimulating sales through customer support and positioning for future growth by increasing the utility of our products."

Exports of U.S.-produced airplanes were down last in 2002. Billings for exported airplanes dropped 16.8 percent as the number of exported airplanes fell 26.1 percent. For U.S. manufacturers, the export market accounted for 25.4 percent of their total billings and 16.8 percent of their total shipments.