Press Release
Issued by Gulfstream Aerospace Corporation.
July 19, 2010
Gulfstream has placed the first ultra-long-range G550 aircraft on the Indian civil registry after winning type validation from the Directorate General of Civil Aviation (DGCA), an attached office of the Ministry of Civil Aviation, Government of India. The G550 is the current range leader in the business-jet market, with the capability to fly 6,750 nautical miles nonstop.
It joins a growing fleet of Gulfstream jets in the Indian skies, which will soon include the all-new and much-anticipated G650 – the largest, fastest, longest-range purpose-built business jet. The Mach .925 G650 is due for Federal Aviation Administration (FAA) certification next year and entry into service in 2012. The aircraft will have a range of 7,000 nautical miles, connecting Mumbai or New Delhi to London nonstop at very high speed. Alternatively, it will link any two cities across the globe with a maximum of one stop. Gulfstream has a 200-order backlog for the G650, its new flagship aircraft.
Gulfstream has received type validation from the DGCA for many models, including the GIII, GIV, GV, G100, G200, G450 and G500.
"Over a quarter century, Gulfstream has earned a reputation as the preferred provider of private jets to many of the country's business leaders," said Gulfstream Regional Vice President Jason Akovenko, who is responsible for the Asia-Pacific region. "The Indian aviation industry is strong and vibrant, and we are excited about the future. Gulfstream continues to expand its commitment in the country by significantly increasing marketing and product support activities to serve our customers."
Air Works in Mumbai has long been an authorized service center, recently supplemented by the presence of a Gulfstream field service representative, Kannan Kumar, in Chennai. In the last year alone, Gulfstream has doubled spare parts at bases in Asia. Globally, it maintains a parts inventory of $1.2 billion. The company has a service presence on six continents with 44 facilities, including those of sister company Jet Aviation. This extensive service network assures customers of support wherever they fly.
In the last few years, Gulfstream has seen its sales shift from 60 percent North American to 60 percent international, with much of the shift toward Asian markets. "When we look at the market in India, we see considerable upward potential," said Akovenko. "The country has been enjoying robust economic growth, which has contributed to wealth creation. This has spurred strong demand for private jets."
Akovenko sees a number of trends supporting the growth of private aviation in India, including:
- A dynamic business culture
- Increasing global business linkages, including Indian acquisitions abroad
- Recognition in government and industry that aviation helps foster economic growth
Asia was the strongest market for private jets last year, growing 15 percent over 2008, according to aerospace analyst firm Teal Group. This figure outpaced Europe at 13 percent and the United States at just 2 percent. Teal Group projects that the strongest growth between 2010 and 2019 will be in the large-cabin segment, which will account for the majority of Gulfstream sales worldwide.
Today, India has a private jet fleet of nearly 130 aircraft, versus 11,000 in the U.S. "That provides considerable room for growth," Akovenko remarked. The Business Aviation Association for India predicts 1,400 private aircraft by 2015 compared to some 500 today, a figure that includes helicopters as well as piston and turboprop fixed-wing aircraft. Eighteen Gulfstream aircraft are in the Indian fleet, all of them in the mid- to large-cabin segments, making them among the most capable private aircraft in India. Companies and individuals will need to fly farther as business expands among continents, providing an incentive to trade up to larger Gulfstream models or acquire Gulfstream aircraft for the first time.
"We are focusing intently on building close and successful relationships with our operators and providing the industry-leading service for which Gulfstream is famous," Akovenko said. For more than a decade, Gulfstream routinely has been named No. 1 in product support in surveys conducted by major industry trade publications such as Professional Pilot and Aviation International News.
