Press Release
Issued by Gulfstream Aerospace Corporation.
November 13, 2011
Gulfstream Aerospace Corp. President Larry Flynn told reporters at the Dubai Airshow that the Middle East market for Gulfstream jets continues to expand, and that increasingly these aircraft are being used as essential transportation to pursue investments and business interests around the world.
"Gulfstream has had a strong presence in this market since the GII days – more than 40 years," Flynn said. "The difference today is that more and more businesses are viewing business jets as essential to their widening interests. The long-range capabilities of our aircraft easily allow businesses to reach markets in Asia, Europe and beyond.
"This is part of a worldwide trend. As investors and businesses look around the globe for opportunities, the need for long-range, rapid transportation increases. Gulfstream is the industry leader in meeting that demand."
Flynn pointed to Gulfstream's market share in the large-cabin segment within the Middle East. The company's share exceeds 40 percent, making it the largest provider of large-cabin, long- range jets in the region.
"We have a strong brand that is built on technology, performance and product support," said Flynn. "Because we firmly believe in the value of product support, we're continuously investing in our own service organization and working closely with our sister company, Jet Aviation, to provide the best service around the world."
Gulfstream this year was rated number one in product support in two leading trade journals, Professional Pilot and Aviation International News.
Gulfstream has the industry's largest service organization, employing more than 3,300 technicians and other specialists worldwide. It also maintains an inventory of $1.2 billion in spare parts around the world, including in Dubai, London, Madrid and Singapore. Gulfstream recently expanded its company-owned maintenance center in Luton, England, outside of London, one of the most frequent destinations for Middle East business travelers. Jet Aviation's fixed base operations in Dubai, Jeddah and Riyadh also provide various services for Gulfstream aircraft.
Gulfstream sales are now predominantly international, with about 70 percent of recent orders outside the United States, Flynn noted. The Middle East remains a strong market, particularly the United Arab Emirates and Arabian Peninsula, he said.
"In a time of political and market change, businesses in the Middle East are investing strategically and for the long-term, and these investments span the world," Flynn said. "We see this as positive for business aviation in general, and Gulfstream in particular."
Gulfstream is seeing strong aircraft utilization worldwide, with fleet hours now back to their 2008 peak. The company has a growing backlog of orders, which stands at $18.6 billion and includes orders for more than 200 Gulfstream G650 aircraft, one of two new products about to enter the market. The ultra-long-range, 0.925 Mach G650 will enter service in the second quarter of 2012 and the large-cabin, mid-range G280 will enter service in 2012 also.
"The G650 creates a market segment all its own, with 7,000 nautical-mile range, the largest purpose-built business jet cabin and the highest cruise speed of any civil aircraft," said Flynn. "The G280 sets the standard in the super-midsize class. Performance has significantly exceeded our original projections. These two aircraft keep us at the forefront of the industry, even as we continuously invest in new technology and expand our operations."
Gulfstream has more than 11,500 employees worldwide today. Growth has come in all sectors of the company – especially production, engineering and product support.
Gulfstream is on track for green deliveries of 80 large-cabin models and 15-20 mid-cabin models in 2011. In addition, the company plans to make green deliveries this year of 10 to 12 G650 aircraft.
