Rolls-Royce says that the market for business jets is on the upturn with increased deliveries predicted in 2005 and beyond. While it is anticipated that all business jet sectors will see growth in deliveries, the medium to very long-range sector will have two-thirds of aircraft delivery value over the forecast period.

Revealed in the company’s latest business jet forecast – covering 2004 to 2023 – the industry is in the beginning of a stronger market for business aircraft as virtually all of the key market driver indicators have turned positive.

“Economic indicators, coupled with a reduced inventory of viable used aircraft and growth of share purchases at fractional companies, support our increased delivery forecast,” said Ian Aitken, president, corporate & regional aircraft for Rolls-Royce.

The age profile of current in-service business jets also shows there will be a wave of replacement orders through the forecast period. Almost 40 per cent of today’s business jet fleet is 20 years of age or older.

The Rolls-Royce forecast illustrates a strong demand for all sectors across the business jet landscape over the next 20 years. The long term forecast projection shows the need for 23,000 aircraft with a delivery value of $284 billion for micro-jets through business liners.

The traditional business jet sector is forecast to have 15,000 aircraft deliveries up to 2023, up slightly from the Rolls-Royce 20 year forecast published last year.

Almost 47,000 engines, with a delivery value of $60 billion, in multiple engine thrust classes will be required over the forecast period. The 5,000 lb and above thrust categories will be responsible for the majority of engine delivery value.

The forecast also indicates a rising proportion of new aircraft deliveries for fractional use, relative to the total market. Today, fractional operators take delivery of about 10 to 15 per cent of annual business jets sold. The forecast shows this proportion increasing to as much as 22 percent of the market.

North America is forecast to keep its dominant share of business jet deliveries, while other regions of the world will have higher growth rates relative to their historical performance as a result of growing regional economies.