WASHINGTON, DC, February 11, 2004 ─ The General Aviation Manufacturers Association (GAMA) announced today that shipments of piston-engine airplanes increased 9.5 percent in 2003. The strong growth in the piston-engine market largely offsets a decline in shipments of turboprop airplanes and business jets, keeping total industry shipments essentially unchanged from the previous year at 2,686 units. Total industry billings, however, declined 15.5 percent to $9.99 billion.
According to GAMA Chairman Clay Jones, general aviation manufacturers believe “the impressive strength of the piston segment in 2003 is an early indicator of a broader turnaround in all segments of general aviation.”
Jones credited a provision in last year’s tax bill, commonly known as “bonus depreciation,” with stimulating many recent airplane orders. He said extending the provision, which is set to sunset at the end of this year, is GAMA’s top legislative priority.
YEAR END SHIPMENTS OF AIRPLANES – MANUFACTURED WORLDWIDE |
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YTD 2002 |
YTD 2003 |
CHANGE |
| Pistons | 1,731 | 1,896 | +9.5% |
| Turboprops | 280 | 272 | -2.9% |
| Business Jets | 676 | 518 | -23.4% |
| Total Shipments | 2,687 | 2,686 | 0.0% |
| Total Billings | $11.2B | $9.99B | -15.5% |
YEAR END SHIPMENTS OF AIRPLANES – MANUFACTURED IN THE U.S. |
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| Pistons | 1,496 | 1,590 | +6.3% |
| Turboprops | 187 | 163 | -12.8% |
| Business Jets | 524 | 384 | -26.7% |
| Total Shipments | 2,207 | 2,137 | -3.2% |
| Total Billings | $7.72B | $6.43B | -16.7% |