WASHINGTON, DC, May 30, 2012 – The United States International Trade Commission (USITC) has released a report on the competitive conditions affecting the global business jet industry. General Aviation Manufacturers Association (GAMA) President and CEO Pete Bunce responded to today’s release with the following statement:
“The USITC report comes at a time of significant economic challenges for the global business jet industry. General aviation manufacturers around the world are collectively suffering through one of the worst economic downturns the industry has ever experienced.
This report usefully highlights a number of key factors impacting the industry, including the slow economic recovery in the largest markets – North America and Europe – as well as tight financing, the threat of new taxes and fees, and delays in certification which impact manufacturers’ ability to bring new, safety-enhancing technologies to market in a timely manner.
The report also emphasizes the importance of research and development investment by both private industry and governments as well as new markets which have emerged around the world. With further economic growth expected in these key regions, general aviation manufacturers will continue to spread their reach in order to take advantage of market opportunities. As a result, the quintessentially global nature of the general aviation manufacturing industry and its supply chain will become even more pronounced.”
View the report at: http://www.usitc.gov/publications/332/pub4314.pdf