Welcome!

News Feed Item

A Global Business Indicator: 2013 Was a Good Year for Business Aviation

JSSI Business Aviation Index Indicates Global Market Growth with Flight Activity Up 4 Percent in 2013

CHICAGO, Feb. 27, 2014 /PRNewswire/ -- According to JSSI's 2013 year-end Business Aviation Index, global business aviation activity grew by 4 percent in 2013, surpassing the 2.9 percent growth that the IMF estimates took place in the world's GDP in 2013.

Jet Support Services, Inc. (JSSI), the world's leading provider of maintenance support and financial services to the business aviation industry, has released its 2013 year-end Business Aviation Index, which tracks the number of hours that business aircraft have flown by region, industry and aircraft type.

The Manufacturing, Power & Energy and Real Estate industries all posted impressive gains, while the Construction, Financial Services and Healthcare industries contracted.

JSSI Index: By Industry

Industry

Year-over-Year (calendar)

Quarter-over-Quarter

Construction

-13%

-16%

Financial Services

-9%

-9%

Healthcare

-1%

-7%

Manufacturing

+10%

+13%

Power & Energy

+29%

+2%

Real Estate

+6%

+62%

However, when looking at the data by region, business aviation experienced growth in virtually every market, both on an annual and quarterly basis.

"The global growth in flight hours is a positive indicator for the health of both the aviation industry and the economy as a whole. When viewed by region, the data is generally consistent with macroeconomic trends across the globe. Business aviation continues its strong rebound in the U.S., with 6 percent year-over-year growth and 7 percent quarter-over-quarter growth," said Neil Book, President & CEO, JSSI.

JSSI Index: By Region

Region

Year-over-Year

Quarter-over-Quarter

Asia

+22%

+24%

Europe

+12%

-13%

Latin America

-1%

+10%

Middle East/Africa

+25%

+3%

United States

+6%

+7%

"Although European flight hours were down from the third quarter, flight activity for our European-based clients is still up 12 percent over Q4 2012," said Mr. Book.

Emerging markets in Asia, the Middle East and Africa were up by over 20 percent since last year, while flight hours in Latin America remained flat.

Finally, observing business aviation activity by aircraft type provides insight as to exactly how the business community is flying. For the first time, the JSSI Business Aviation Index is releasing data on aircraft type usage:

JSSI Index: By Aircraft Type

Aircraft Type

Year-over-Year

Quarter-over-Quarter

Large Cabin

+7%

+6%

Medium Cabin

+5%

+10%

Small Cabin

+8%

-3%

Single Engine

+60%

+1%

"It is encouraging to see growth from single engine turboprops to large cabin aircraft. This tells us that businesses large and small, along with the owner/operator community, are flying their airplanes again. As the global economy has recovered, we initially saw hesitation from businesses to start flying again. We're now seeing this hesitation dissipate. It also doesn't hurt that the Obama administration's negative rhetoric toward the business aviation community has quieted somewhat in his second term. We look forward to seeing how the business aviation industry grows and evolves throughout 2014 and beyond both in the U.S. and around the globe," continued Mr. Book.

About Jet Support Services, Inc. 
Founded in 1989, JSSI is the only hourly cost maintenance provider covering virtually all makes and models of business aircraft, engines and APUs. JSSI provides its customers with comprehensive, flexible and affordable financial tools for managing the often unpredictable costs of operating and maintaining nearly all types of turbine-powered aircraft, including jets, turbo-props and turbine- powered helicopters. JSSI serves customers globally and manages maintenance services through its worldwide infrastructure of certified technical advisors. For more information, please visit www.jetsupport.com.

Contact:
Anne Donohoe / Marj Rose
732.620.0033 / 214.862.8992
[email protected] / [email protected]

 

SOURCE Jet Support Services, Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
"We're here to tell the world about our cloud-scale infrastructure that we have at Juniper combined with the world-class security that we put into the cloud," explained Lisa Guess, VP of Systems Engineering at Juniper Networks, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Historically, some banking activities such as trading have been relying heavily on analytics and cutting edge algorithmic tools. The coming of age of powerful data analytics solutions combined with the development of intelligent algorithms have created new opportunities for financial institutions. In his session at 20th Cloud Expo, Sebastien Meunier, Head of Digital for North America at Chappuis Halder & Co., discussed how these tools can be leveraged to develop a lasting competitive advantage ...
In his session at 20th Cloud Expo, Mike Johnston, an infrastructure engineer at Supergiant.io, discussed how to use Kubernetes to set up a SaaS infrastructure for your business. Mike Johnston is an infrastructure engineer at Supergiant.io with over 12 years of experience designing, deploying, and maintaining server and workstation infrastructure at all scales. He has experience with brick and mortar data centers as well as cloud providers like Digital Ocean, Amazon Web Services, and Rackspace. H...
The question before companies today is not whether to become intelligent, it’s a question of how and how fast. The key is to adopt and deploy an intelligent application strategy while simultaneously preparing to scale that intelligence. In her session at 21st Cloud Expo, Sangeeta Chakraborty, Chief Customer Officer at Ayasdi, will provide a tactical framework to become a truly intelligent enterprise, including how to identify the right applications for AI, how to build a Center of Excellence to ...
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
SYS-CON Events announced today that Massive Networks will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Massive Networks mission is simple. To help your business operate seamlessly with fast, reliable, and secure internet and network solutions. Improve your customer's experience with outstanding connections to your cloud.
DevOps is under attack because developers don’t want to mess with infrastructure. They will happily own their code into production, but want to use platforms instead of raw automation. That’s changing the landscape that we understand as DevOps with both architecture concepts (CloudNative) and process redefinition (SRE). Rob Hirschfeld’s recent work in Kubernetes operations has led to the conclusion that containers and related platforms have changed the way we should be thinking about DevOps and...
As businesses adopt functionalities in cloud computing, it’s imperative that IT operations consistently ensure cloud systems work correctly – all of the time, and to their best capabilities. In his session at @BigDataExpo, Bernd Harzog, CEO and founder of OpsDataStore, presented an industry answer to the common question, “Are you running IT operations as efficiently and as cost effectively as you need to?” He then expounded on the industry issues he frequently came up against as an analyst, and ...
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
SYS-CON Events announced today that Datera, that offers a radically new data management architecture, has been named "Exhibitor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Datera is transforming the traditional datacenter model through modern cloud simplicity. The technology industry is at another major inflection point. The rise of mobile, the Internet of Things, data storage and Big...
Given the popularity of the containers, further investment in the telco/cable industry is needed to transition existing VM-based solutions to containerized cloud native deployments. The networking architecture of the solution isolates the network traffic into different network planes (e.g., management, control, and media). This naturally makes support for multiple interfaces in container orchestration engines an indispensable requirement.
Everything run by electricity will eventually be connected to the Internet. Get ahead of the Internet of Things revolution and join Akvelon expert and IoT industry leader, Sergey Grebnov, in his session at @ThingsExpo, for an educational dive into the world of managing your home, workplace and all the devices they contain with the power of machine-based AI and intelligent Bot services for a completely streamlined experience.
Because IoT devices are deployed in mission-critical environments more than ever before, it’s increasingly imperative they be truly smart. IoT sensors simply stockpiling data isn’t useful. IoT must be artificially and naturally intelligent in order to provide more value In his session at @ThingsExpo, John Crupi, Vice President and Engineering System Architect at Greenwave Systems, will discuss how IoT artificial intelligence (AI) can be carried out via edge analytics and machine learning techn...
FinTechs use the cloud to operate at the speed and scale of digital financial activity, but are often hindered by the complexity of managing security and compliance in the cloud. In his session at 20th Cloud Expo, Sesh Murthy, co-founder and CTO of Cloud Raxak, showed how proactive and automated cloud security enables FinTechs to leverage the cloud to achieve their business goals. Through business-driven cloud security, FinTechs can speed time-to-market, diminish risk and costs, maintain continu...
In his session at @ThingsExpo, Arvind Radhakrishnen discussed how IoT offers new business models in banking and financial services organizations with the capability to revolutionize products, payments, channels, business processes and asset management built on strong architectural foundation. The following topics were covered: How IoT stands to impact various business parameters including customer experience, cost and risk management within BFS organizations.