The same sort of market conditions that depressed the light and midsize business jet market for the past seven years is now slowing down the previously untouched large-cabin market. In fact, Gulfstream President Mark Burns told a packed news conference at NBAA in Las Vegas that the combination of a large inventory of relatively new used aircraft and what he termed “overproduction” by other unnamed manufacturers has softened the lucrative market sector. “It is a headwind for us,” he said. “2016 will be somewhat flattish for us.” He also noted that after half a decade of selling more aircraft overseas, the market is returning to the U.S. and the sales process there takes longer. Still, the company sold 46 aircraft in the second quarter of this year and the new aircraft it has introduced in the past few years continue to dominate their portions of the market.
Gulfstream is also moving at full speed on its new G500 and G600 programs and it flew the prototype 500 to NBAA for its debut this week. Scott Neal, Vice President for Worldwide Sales, said the company put its aircraft to good use getting people and gear from the Dubai Air Show, which ended last week, to Las Vegas in time for NBAA this week. Three city-to-city speed records were set. Gulfstream has a major presence inside the convention hall and at the static display at Henderson Executive Airport.
