Sunday, September 23, 2007

Growth Industries

You want in on an industry that will likely explode in the coming decades? Get thee some private jets:

Demand for business jets is at a record level and the credit squeeze has so far had little impact on new orders from the world’s executive and wealthy individual high-flyers. Waiting lists for many models stretch to 2010 and beyond.

“Industry growth has moved into unparalleled territory,” Rob Wilson, president for business and general aviation at Honeywell Aerospace, one of the world’s leading aerospace systems suppliers, said Sunday.

According to the Honeywell annual business aviation outlook, published Sunday, 2007 will mark the fourth successive year of growth since the trough of 2003, with annual business jet deliveries set to exceed 1,000 this year for the first time, up from 861 last year. Deliveries are forecast to rise to more than 1,300 in 2008.

Why the surge in plane-buying? Because, as I've mentioned earlier, airline travel sucks:

The arguments in favour of private aviation, such as increased executive productivity, time-saving and the avoidance of congested hub airports, have been gaining support elsewhere in the world.

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