Jet Support Services, Inc. (JSSI) has released the JSSI Business Aviation Index for the fourth quarter of 2018 and reports year-to-date growth of 4.9 percent and an increase of 4.7 percent over the same period in 2017. The index tracks utilization of approximately 2,000 business aircraft worldwide and reports average flight hours flown on a monthly basis by region, industry and cabin type.
“Despite the dramatic market swings that defined the end of the year, flight hours were up significantly for both the quarter and the year, contributing to 2018 being one of the strongest years in a decade,” said Neil W. Book, president and CEO of JSSI. “We have seen flight activity increase worldwide and a growing demand for private travel.”
The JSSI Business Aviation Index tracks and reports on the global flight activity and utilization of business aircraft, including jets, turboprops and helicopters. Unlike commercial aviation, which is largely driven by consumer spending, business aviation is a tool needed for efficient travel to conduct core business activities. This utilization data ultimately provides early indicators and useful insights into the state of global economic conditions.
Key findings include:
– Global flight activity recorded a year-to-date increase of 4.9 percent in 2018 and a year-over-year increase of 4.7 percent.
– Regional increases were reported in nearly every segment of the world, with the highest year-to-date increases reported in Africa at 17.4 percent, Europe at 8.8 percent, and South America at 8.1 percent.
– The small cabin segment reported a 6.6 percent year-to-date increase and large cabins reported a 5.3 percent increase. Medium-sized cabins reported a decrease of -4.2 percent.
– Three of the nine industry segments analyzed reported year-to-date increases, with aviation at 9.1 percent, business services at 5.4 percent, and power & energy at 3.6 percent.
– Every aircraft age group analyzed reported a year-to-date jump in flight hours. Newer aircraft with less than five years in service reported the largest increase of 7.2 percent.
– Aircraft operated for compensation or hire (i.e., FAA Part 135), including non-scheduled charter and air-taxi operations, reported a 9.5 percent year-to-date increase and an 11 percent increase in year-over-year activity. Aircraft operated under general operating and flight rules, without compensation or reimbursement for carriage of passengers or cargo (i.e., FAA Part 91), reported a year-to-date decrease of -1.5 percent and a 2 percent increase in year-over-year activity.
For a copy of the latest JSSI Business Aviation Index, visit https://jetsupport.com/insights/.