FAA Announces Aerospace Forecast for Next Two Decades

The Federal Aviation Administration recently published an aerospace forecast for fiscal years 2012-2032. According to the report, the demand for general aviation products and services will continue to grow, particularly in new business jets and light sport aircraft.

The report also noted thatthe active general aviation fleet is projected to increase at an average annual rate of 0.6 percent over the 21-year forecast period. The forecast said that the more expensive and sophisticated turbine-powered fleet (including rotorcraft) is projected to grow at an average of 2.9 percent a year over the forecast period, with the turbine jet portion increasing at 4.0 percent a year.

To read the entire report, click here.