Findings of a study commissioned by Airbus Corporate Jets (ACJ) and based on input from business aviation financiers and private jet brokers based in America show business aviation increasingly contributing to the U.S. economy.
Business aviation contributes around $150 billion to the U.S. economy each year,1 and the study2 reveals 69% expect this to rise to more than $180 billion by 2028. Nearly one in three (31%) predict the sector will contribute more than $190 billion to the U.S. economy in five years’ time.
There are more than 5,000 public-use airports, but fewer than 500 have commercial airline services, making business aviation vital.1 It is an economic lifeline for thousands of communities in America. In the recent survey, 21% of business aviation professionals expect business aviation’s role here to increase dramatically over the next five years, with a further 51% anticipating a slight rise.
Some 27% of U.S. private jet financiers and brokers interviewed also expect the level of support business aviation provides to emergency responders and humanitarian relief programs to increase dramatically, and a further 49% say the role they play here will increase slightly.
In a separate new ACJ survey3 of senior executives at large U.S. corporations who own business jets, 77% say their employers use them for humanitarian and charitable purposes such as the Corporate Angel Network or by supporting other charities by providing some level of access to their aircraft. Over the next three years, 87% think their employers will make their aircraft more available for charitable and humanitarian causes.
“The wider benefits of the business aviation market should not be overlooked,” said Sean McGeough, VP Commercial ACJ for North America. “It makes a huge contribution directly and indirectly to jobs, taxes and the U.S. economy overall. Many owners of business jets make them available when they can for good causes. Our study suggests that the contribution business aviation makes to economic growth in the U.S., and to supporting humanitarian projects and charities is set to increase.”
1. NBAA https://nbaa.org/business-aviation/business-aviation-just-the-facts/
2. Airbus Corporate Jets commissioned the independent research company Pureprofile to survey 50 business aviation financiers, and 50 private jet brokers based in the U.S. The study was conducted in September 2023.
3. Airbus Corporate Jets commissioned the independent research company Pureprofile to survey 100 senior executives of large U.S. corporations with annual revenue of $500 million or more who said their employer uses business aviation. 87% said their employer owns/leases a business jet. The study was conducted in September 2023.
