WASHINGTON, DC, May 30, 2012 - The United States International Trade Commission (USITC) has released a report on the competitive conditions affecting the global business jet industry. General Aviation Manufacturers Association (GAMA) President and CEO Pete Bunce responded to today's release with the following statement:
“The USITC report comes at a time of significant economic challenges for the global business jet industry. General aviation manufacturers around the world are collectively suffering through one of the worst economic downturns the industry has ever experienced.
This report usefully highlights a number of key factors impacting the industry, including the slow economic recovery in the largest markets - North America and Europe - as well as tight financing, the threat of new taxes and fees, and delays in certification which impact manufacturers’ ability to bring new, safety-enhancing technologies to market in a timely manner.
The report also emphasizes the importance of research and development investment by both private industry and governments as well as new markets which have emerged around the world. With further economic growth expected in these key regions, general aviation manufacturers will continue to spread their reach in order to take advantage of market opportunities. As a result, the quintessentially global nature of the general aviation manufacturing industry and its supply chain will become even more pronounced.”
View the report at: http://www.usitc.gov/publications/332/pub4314.pdf
GAMA is an international trade association representing over 75 of the world's leading manufacturers of general aviation airplanes and rotorcraft, engines, avionics, components and related services. GAMA's members also operate repair stations, fixed based operations, pilot and maintenance training facilities and they manage fleets of aircraft. GAMA fosters and advances the welfare, safety, and interests of general aviation by working with governments and the industry to promote a better understanding of the important role general aviation plays worldwide in economic growth and development. GAMA is headquartered in Washington, DC, with a European office in Brussels, Belgium. For additional information, visit GAMA's website at www.GAMA.aero.